Llama is currently blocked on proposal power needed to submit several AIPs due to technical issues relating to Index Coop’s delegation, which comprised the bulk of Llama’s proposal power up until two weeks ago. We’d like to make a request for the community to delegate proposal power so that we can continue carrying out our work as outlined in our 12-month agreement.
We currently have 21,391 AAVE in proposal power, or roughly 59,000 short of the 80,000 required to submit proposals to Aave governance. While we are actively working to restore our proposal power by speaking with large holders, many of these holders are constrained for legal or operational reasons and cannot delegate their proposal power.
Since beginning our 12-month engagement with Aave in October, we have executed 21 through on-chain governance, or just under an average of 1/week. In recent weeks, this number has increased to 2-3 on average as we work to enable Aave’s growth by supporting liquidity mining campaigns and asset listings on Aave v3. We plan to share a more detailed update of our work progress next week, including information on the impact that our proposals have had.
In the meantime, we are working with @fig and Flipside Governance to get our WIP AIPs proposed onchain and would like to express our thanks for their help.
If you are willing to delegate proposal power, please do so to this address: 0x55B16934C3661E1990939bC57322554d9B09f262.
Thanks to @Llamaxyz for their cross-team collaboration and work in writing the contract.
We are proud to publish their latest AIP on-chain which will be live for voting in a day.
You may see the vote here, and appreciate voters’ participation. Flipside is happy to continue to support Llama’s proposals on-chain using its proposition power in the interim.
Hello, the Aave Grants DAO (AGD) has delegated our AAVE holdings (currently 12,650.982 AAVE) to Llama. We fully support Llama’s efforts and this delegation will help them reach the required proposal power of 80,000 AAVE.
Llama has been an active contributor as highlighted in their 6-month update and we are happy to be able to support their ongoing efforts.
Hello, is there a process in place for determining who the Aave Grants DAO delegates their voting power to? This seems like something that should go through the DAO, given the fact that it’s using DAO resources in a way that was not originally intended when funded.
AGD has only delegated proposal power, which enables putting up on-chain votes (AIPs), not voting power that determines the outcome of the votes.
Proposal power is only needed by service providers or large contributors that need to put up AIPs. To my knowledge, every other service provider has enough proposal power to put up AIPs which is why no one else has posted a request for delegating proposal power to the forum.
Creating AIPs is a key part of Llama’s scope of work. Given that Llama’s proposal was approved by the community, we believe that delegating our proposal power to them aligns with AGD’s mandate to support the growth of the Aave ecosystem.
While delegating voting power would require governance approval, we believe that delegating proposal power to Llama benefits the ecosystem by removing extra work on other service providers like ACI and delegates like Flipside. Crucially, this delegation does not impact Llama’s ability to pass AIPs but only enables them to put up AIPs for voting by the community.
Once Llama has enough proposal power without our support, we would be willing to un-delegate. Additionally, in the future, if another active service provider falls below the required amount to put up AIPs, we would be willing to delegate our proposal power to them.
AGD should remain flexible and adapt to changes to support Aave’s growth wherever possible.