The LEND migration has been going on for a year now and more than 95% of the LEND supply has been migrated. The migration has now been stuck to 95.751% of the total for a long time.
Holders that didn’t migrate either:
Lost access to their funds
Dont follow/don’t care about Aave and the crypto space anymore
Why not stopping the migration, say in two months from now, and recoup the remaining AAVE to refurbish the Aave reserve? Even if half of the remaining LEND holders migrate once an end date is decided, that would still be around 75M worth of AAVE that can be used for protocol growth.
I created a snapshot vote to check the community sentiment, Snapshot
I support the initiative to, at least, initiate a discussion of what should be done in a situation like this.
It is highly probable that as @TheDoo mentions, one of the main sources of non-migration is people who lost access to the wallet, which makes the AAVE tokens permanently locked. As the AAVE token is the main mechanism of governance/coordination of the Aave community, I don’t think it makes sense to just leave them locked, having ways or put them to better use for the community.
At the same time, I think it is important to keep a way for people with provable reasons of not have done the migration (point 2 of @TheDoo ), to migrate for a bit longer time than the 2 months proposed. As the funds on the Aave DAO Treasury will almost 100% not be spent during the next year (probably more), there could be a more ad-hoc mechanism to do the migration for those individuals, case-by-case if requested.
Governance could use the technique proposed for the “Asset Rescue Mission”.
The case of lost LEND tokens that were sent to the contract address, where they would airdrop
appropriate ammount of AAVE to the sender address minus 5% fee.
For example the governance initiates the migration deadline in one vote, and then in other vote initiates an airdrop.
@TheDoo I agree. But may haps a 6 month close out date definitely. Then put those “Lost” aave tokens back into the reseve/Eco system. But the LEND migration needs to come to a close soon.