Hello,
There’s only one token in the Aave ecosystem; its ticker is $AAVE.
As always, Aave Labs did zero peer review before publishing this proposal, and every service provider and major delegate is learning about Horizon today.
It’s good for decentralization and transparency, but the problem with being in an ivory tower is that you have no one to say, “eh, ummm,” when the proposal terms are outrageous.
The community reaction was extremely predictable, and my take is that Aave Labs anticipated it.
We have been noticing a pattern over the years with all the proposals coming from this actor. I’ll call it the “High Price Anchor” negotiation strategy. In simple terms: if you’re worth 5, ask for 20, and you might get 12.
This pattern has proven useful in the past, allowing Aave Labs to claim their own half the DAO service provider budget in 2024.
That budget was then used to build V4 and cover the payroll for people working on this “Horizon” project, only for them to come back to us, keeping 85% of a (unnecessary & dilutive) new token supply.
And we, the DAO, are supposed to use a third of our breadcrumb allocation to incentivize usage of their protocol when they eventually keep 90% of the revenue for themselves?
Also, it is convenient to propose an airdrop to StkAAVE holders, as Aave Labs is one of the largest stakers, making people believe they will make a quick buck at no cost to them while pocketing the lion’s share of the drop.
It will come as no surprise that while we believe a renewal of Aave ARC “2.0” is good for Aave, the current proposal is not even worth discussing in its current form.
The ACI will not support this TEMP CHECK, and we strongly encourage everyone in the Aave community to participate in this discussion.