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

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.

I’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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Hey,

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

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