Hello, the Aave DAO is redepositing its own revenue into the Aave V2 protocol via the collector contract on Ethereum, and similarly into itself on V3 in Layer 2s.
Currently, the average yields on DAI, USDC, and USDT stand at 4.57%, 5.69%, and 5.58%, respectively. These rates are the ‘base rate revenue’ we need to beat to deem any ‘opportunity’ profitable.
The ACI views this risk as virtually non-existent, considering these are deposits in our own protocol. If our protocol fails, we’re out of the game anyway, so the inherent risk of Aave is irrelevant to us.
This analysis renders the Maple cash management product (the only ‘risk-free’ option) as underperforming compared to status quo.
The other options are beyond our comfort zone.
So, the ACI is planning to cast a NAY vote on this TEMP CHECK.
