[Temp Check] Upgrade aArbARB contract to delegate ARB to Aave DAO

Governance
1

Overview

Aave DAO could consider upgrading the aArbARB token contract to allow all deposited ARB tokens to be delegated to Aave DAO itself or an elected board.

In a recent vote, if aave had delegated its 33.5M ARB and voted for Marc Zeller he would have won the election to this oversight board: https://snapshot.box/#/s:arbitrumfoundation.eth/proposal/0xb422848b0f53f9077444b922d553618e331f9abe7539ae4566ff84364d0fbd3c

aArbARB Contract: https://arbiscan.io/address/0x6533afac2e7bccb20dca161449a13a32d391fb00

Upsides

  • increased power for Aave DAO on Arbitrum ecosystem.
  • may attract new depositors who keep ARB in their wallets now because they want to participate in governance
  • May create ways for aave DAO to earn more fees from governance participation incenives

Potential Downsides

  • If current depositors do not want their tokens involved in governance they may withdraw from aave
  • Some arbitrum dao members may find this as hostile, as aave would become the most powerful single entity in terms of
  • May create more overhead work for Aave DAO or require our own delegated person to track and give updates to Aave DAO.

Iā€™m interested in discussion here. If this is something aave dao may be interested in I would happily write the code change necessary to implement the upgrade and delegation (its a 1 line change) or help steward it.

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2

Hey,

Please follow the guidelines for a TEMP CHECK. It is pinned on the front page of the forum.

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