[ARFC] Set Liquidity Observation Labs as Emission manager for wstETH on V3 markets

Governance
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Title: [ARFC] Set "Lido Liquidity Observation Labs as Emission manager for wstETH on V3 markets

Author: Aave Chan Initiative (ACI)

Dated: 2024-01-31

Summary

This ARFC proposes to set the Lido "Lido Liquidity Observation Labs wallet as the emission manager for the wstETH token on Ethereum, Base, Arbitrum, Optimism, Polygon and Gnosis Aave V3 markets. This will enable the Lido "Lido Liquidity Observation Labs to define and fund incentive programs for all wstETH markets, promoting growth and expanding the user base of Aave.

Motivation

The Lido "Lido Liquidity Observation Labs has expressed a desire to actively contribute to the growth and development of the Aave V3. By setting their wallet as the emission manager for the wstETH token, the Foundation will be able to directly fund incentive programs that can attract more users to the pool and stimulate activity. This aligns with the broader goals of the Aave community to foster active and engaged markets.

Specification

The Lido "Lido Liquidity Observation Labs wallet address will be provided in a later stage.

The AIP call setEmissionAdmin() method in the emission_manager contract.

EMISSION_MANAGER.setEmissionAdmin(wstETH, EMISSION_ADMIN);

This method will set the Lido "Lido Liquidity Observation Labs wallet as the emission admin for the wstETH token on Ethereum, Base, Arbitrum, Optimism, Polygon and Gnosis V3 markets.

Disclaimer

This proposal is powered by Skyward. The Aave Chan Initiative has not been paid by any third party for this proposal.

Next Steps

  1. Gather feedback from the community and risk service providers.
  2. If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
  3. If Snapshot outcome is YAE, escalate this proposal to AIP stage

Copyright

Copyright and related rights waived under Creative Commons Zero (CC0).

3 Likes
2

Following governance guidelines, the following proposal has escalated to ARFC Snapshot stage.

Vote will start tomorrow. We encourage everyone to participate.

3

Following Snapshot monitoring, the following ARFC Snapshot has ended, reaching both quorum and YAE as winning option with 596K votes.

Next step is the AIP stage where this proposal will have its final vote.

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After synchronizing with Liquidity Observation Labs, it was decided not to favor, in the short term, a bridged version of StETH on the gnosis chain.

As such, and following their request, no role will be attributed to the gnosis chain in the context of this AIP.

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