Indeed the math is correct.
We’ve made a misjudgment here and not thoroughly checked the previous proposal. We apologise for that.
Very valid point on the volatility of rates for Aave V2. We believe there is a potential to discover here a GHO facilitator line of credit.
Additionally, as the DAO is finally getting a better vision into it’s finances and may engage with @karpatkey_TokenLogic as a financial services provider - we see this proposal as something worth considering.