Governance Weekly Recap [2024]

Week of April 15, 2024

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:ballot_box: Recent Proposals

  • Interim aAMPL distribution
    • Summary: The proposal addresses an AMPL reserve issue on Aave v2 Ethereum, proposing an interim distribution of 300,000 USD in stablecoins to aAMPL suppliers for partial withdrawals. This measure, coupled with technical updates, aims to resolve accounting discrepancies caused by unexpected inflation in AMPL-related balances and supply. The proposal details next steps including a Snapshot vote and subsequent technical actions, pending community approval. For a complete overview, you can read the proposal here.
    • Proposer: BGD Labs
    • Status: AIP Passed
  • “Merit is Forever” Reward System Program Extension
    • Summary: The “Merit is Forever” reward program proposes extending its operation for 12 months with a $20M annual budget to enhance Aave’s market share and support the GHO stablecoin. Success from prior rounds shows significant user participation and financial growth, encouraging continued investment in this incentive program. The Aave Chan Initiative (ACI) seeks approval for long-term adoption through a DAO snapshot vote. For a comprehensive overview, you can read the proposal here.
    • Proposer: ACI
    • Status: Snapshot Passed
  • Onboard New Risk Service Provider
    • Summary: The proposal focuses on choosing a new risk service provider for Aave alongside Chaos Labs, with options between LlamaRisk, OpenBlock, and Allez Labs, each having passed preliminary checks. Aave community members are encouraged to vote in a ranked choice format to select the most suitable candidate based on detailed comparative analysis provided in the forum. The selected provider will enhance risk analysis and management for Aave, supporting the protocol’s security and efficiency. For detailed proposal information, visit here.
    • Proposer: ACI
    • Status: LlamaRisk wins the bid among 3 proposers

:writing_hand: Forum Highlights

  • Update Aave Liquidity Committee SAFE

    The proposal aims to update the Aave Liquidity Committee (ALC) SAFE’s signer requirement from 4 of 6 to 3 of 5 members due to operational challenges and time zone differences among current members. This adjustment is intended to streamline decision-making processes, particularly as one member steps down. The community is invited to provide feedback, and following consensus, the proposal will advance to the Snapshot voting stage. For more details, you can read the full proposal here.

  • “FastPass” - A Safety Module Update

    The “FastPass” proposal suggests introducing a feature allowing certain Aave Safety Module stakers to bypass the 20-day cooldown period for a fee, enhancing liquidity and flexibility. This feature, initially for StkGHO, aims to balance additional revenue for the DAO with maintaining adequate coverage during shortfall events, by setting limits on daily withdrawals. The proposal includes risk mitigation strategies to ensure protocol safety and stability. For more details, visit the full proposal here.

  • Aave & GHO Ecosystem Advancement Quadratic Funding Round by Gitcoin

    Aave and Gitcoin are launching a quadratic funding round to boost growth in the Aave and GHO ecosystem. With $50,000 funded equally by Gitcoin and Aave Grants DAO, the initiative will support projects that enhance the ecosystem, with a focus on past grantees and new contributors. The application period spans from April 23 to May 7, 2023, followed by a donation period from May 14 to May 28, 2023. For more details, visit the full proposal here.

:newspaper: Stakeholder News

:crystal_ball: Upcoming Votes