While I agree that demand for RWAs is rising and that it is a good idea for Aave to position itself in this sector, I have significant concerns about introducing a new token.
Since Horizon is presented as an instance of Aave V3 (and later V4), I don’t fully understand the need to create this new token (except perhaps just to raise funds). The $AAVE token already exists, and creating another one would dilute $AAVE holders by splitting the revenue generated between two distinct tokens, both built on top of the same protocol.
Concerning the proposal itself:
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I find it quite bold to use the words “long-term alignment with the Aave DAO”
when the profit-sharing mechanism decreases by 40% after one year and is reduced fivefold after four years. -
The 15% allocation to the DAO seems very low considering the crucial role it plays in keeping the protocol updated and secure, ensuring that Aave remains the leading player in the DeFi ecosystem.
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The idea of airdropping a portion of the supply to stkAAVE holders is interesting, as they have been protecting the protocol for years. However, 2% still seems quite low.
I am looking forward to Aave Labs’ response to the community, but under these terms, I am not in favor of this proposal.