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Uncover the building blocks of Aave
TL;DR:
The Aave protocol has introduced the AaveParaswapFeeClaimer, a permissionless contract that streamlines the claiming of rewards from Paraswap's positive slippage. This development, approved via a Snapshot vote, has led to a more decentralized and efficient reward distribution process, with around 10k USD already accrued to new claimers across all networks.
The Aave IPFS interface, which utilizes Paraswap for its Swap Collateral and Repay with collateral features, has seen a significant change in its reward distribution process. Since June 2022, Paraswap has been returning a portion of the positive slippage from swaps to the referrer, in this case, the Aave protocol. However, these rewards are not automatically distributed and must be manually claimed by the eligible claimers, namely the Aave governance Executor contracts and Guardians on their respective networks1.
To streamline this process, the AaveParaswapFeeClaimer was introduced. This permissionless contract allows any address to claim rewards on behalf of the Aave protocol to the Aave Collector, offering four methods: getClaimable, batchGetClaimable, claimToCollector, and batchClaimToCollector1. The community's approval for the deployment and activation of the ParaSwap fee claimer was sought through a Snapshot vote2. Following a successful vote, the AaveParaswapFeeClaimer was deployed across all supported networks, and the Aave IPFS interface was updated to redirect fees to this address.
As a result of these changes, approximately 10k USD in positive slippage has accrued to the new claimers across all networks, and these fees can now be claimed in a permissionless manner. However, the previously accumulated fees, currently valued at around 100k USD, must still be claimed via governance or the Aave Guardian3. This development represents a significant step towards a more decentralized and efficient reward distribution process within the Aave protocol.
Posted a year ago
Last reply a year ago
Summary updated 2 months ago
Last updated 04/12 15:05