It’s a great proposal overall and makes tons of sense for the Aave DAO. There are a few things that could be specified a bit more, like the role and attributions of these “facilitators”, or the permissions on the GHO stablecoin: how will the governance of GHO by the DAO work in practice? Will there be an intermediary like a multisig needed to implement the changes voted by the DAO, or will the DAO be able to act directly on the GHO contracts?
Interest rate voted by the DAO? Are you INSANE?!
Finally, and that’s the beef of my concern, the model for the interest is simply inefficient, dangerous, and will lead to governance bloat. We know that already, thanks to MakerDAO having troubles with their DAO-defined interest rates for three-four years now. Having the interest rate of your loan evolve because some rando of the internet voted so is… Frustrating as a borrower, worrisome, and not encouraging at all long-term borrowing.
The model is simply weak and absurd: a DAO should not have a say on such an operational parameter - just like the AaveDAO is not voting on the interest rate for other tokens currently. It should be set algorithmically.
The proposal is still early, but I truly hope these three considerations will be improved upon before the launch, especially the interest rate.
Congrats and looking forward to see the future of GHO unfold: I hope the Aave DAO will not fall into the same pitfall as MakerDAO when it comes to interest rates, just for the sake of “having control”.