I am a happy owner of Aave token and user of the protocol.
The problem with current Aave DAO is that Aave token holder have all the power and voting rights, and users of the protocol don’t have any voting rights.
It is a kind of plutocracy where early Aave owners and Aave stakers keep increasing their voting rights.
User are the most precious asset of the protocol.
Aave users don’t have any voting rights and have capital at risk in the protocol.
I would suggest a modification of the DAO in which
-50% of voting rights belong to Aave token holder
-50% of voting rights belong to users e.g. aTOKEN holder (both debt and collateral)
For example if I own 1000$ of Aave token and 1000$ of capital at risk in Aave protocol, I should have more voting power right than someone who has only 1000$ of Aave token => because I have double time skin in the game.
A example of userocracy could be SWIFT Organisation in which voting rights are proportionnal to the volume generated by banks. The more a bank generate volume, the more it has voting rights.
Another example would be trade unions versus employers or shareholders, where trade unions can have a form of decision-making power.
To be discussed
I think that’s a great idea!
I am new to the AAVE protocol, but as a user I think should have a louder voice as development changes.
@MarcZeller what do you think?
just to ask some questions regarding this idea.
How and where would user be able to vote? (which chain will the payload be executed)
What about all new token that are coming up irregulary like recently KNC and STG? For each token there would need to be some kind of development i guess.
What about the different chains and their liquidity. Like because there is more liquidity on Ethereum people would have more voting rights than on Base for example. How to tackle this?
What i want to say is, that there is already a great voting system established which will even further improve with V3 coming soon (november probably).
And anyone holding Aave can vote and if you think even 1 Aave isn’t enough to vote then you can delegate to different delegate platforms that have been created. This way you will also be able to raise your voice within the DAO.
100% against, if you own $AAVE, you own Aave. that’s it.
In addition to being a longtime active AAVE user, I have been a longtime SM supporter in both stkAAVE & ABPT (and avid voter on all proposals).
Any delegate should see that this proposal is at the very least an interesting on-ramp for a broader discussion on possible ways to get users interested and involved in AAVE as an evolving platform and vibrant community.
This is Customer Retention 101 @MarcZeller — I know that I speak for many AAVE delegates and community members when I say that your ongoing and comprehensive contributions to AAVE are impressive and much appreciated … as well as when I say that your increasingly brief and dismissive “I’m the king of the castle and that’s it” responses do not go unnoticed — and are becoming quite concerning .
I like it, It’s a great fit thank you Marc!
It’s a governance nightmare, allowing non aave tokens to vote opens the gate to all sorts of governance attacks.
With governance v3 voting for aAave will go live and stkabpt could be in the future. Anything not in the control of the aave dao should not even be considered.
I personally agree 100%, but my point was not to support the idea of non-AAVE holders being able to vote; rather that with great power comes great responsibility and a willingness to read between the lines on what may be the driving factors behind someone’s idea or comment. For example, the concept of involving users in the community is tucked inside the proposal that was made. Why not respectfully disagree with voting and perhaps acknowledge that it may be beneficial to open up other pathways for community user involvement and feedback. The behavior of repetitive outright dismissal of ideas, comments, and proposals… as well as closing topics before others even get a chance to respond is crappy.
So it would possible to add a third option
-Aave token and aETH, a WBTC, a kind of boost of Aave Holder and User
As a summary vote
-Aave token Only
-Aave token and aETH (collateral and debt ) 50/50
-boost mode in which you have to get Aave token and aToken is a boost for your vote
This isn’t going to happen. It’s only Aave in it’s variations. No other token will be used for governance. Like @sakulstra already said, it’s a nightmare, extremely dangerous and pretty useless.
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