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[ARFC] Receipt of Gauntlet Insolvency Fund

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governance.aave.com

TL;DR:

The discussion focused on Llamaxyz's proposal to transfer Gauntlet’s Insolvency Fund to the Aave Ecosystem Reserve as AAVE tokens, as a response to excessive CRV debt. A voting process, scheduled from 12th to 16th December, will decide the proposal's fate and the future management of the CRV debt and Aave Ecosystem Reserve.

The discussion primarily revolved around the proposal put forth by Llamaxyz, suggesting the transfer of Gauntlet’s Insolvency Fund to the Aave Ecosystem Reserve in the form of AAVE tokens. This proposal was a response to the excessive CRV debt, and it aimed to formalize the process of Aave receiving AAVE tokens into the Ecosystem Reserve. It was clarified that the AAVE tokens from the Insolvency Fund would not be used to purchase the CRV needed to repay the excessive debt in the CRV Reserve. Instead, an alternative funding method for acquiring the required CRV was suggested, with the anticipation of a separate proposal to discuss how to proceed with repaying the bad debt within the CRV Reserve.

The proposal also detailed a process for Gauntlet to unstake the stkAAVE holding, retrieve the AAVE after the cooldown period, and transfer AAVE to the Ecosystem Reserve. To facilitate this, a Snapshot for the proposal was created. The community was informed that voting was scheduled to start on 12th December and conclude on 16th December 1,2.

In conclusion, the discussion was centered around the management of the CRV debt and the transfer of AAVE tokens to the Ecosystem Reserve. The community was actively engaged in the discussion, with a vote scheduled to decide on the proposal. The outcome of this vote will determine the next steps in managing the CRV debt and the future of the Aave Ecosystem Reserve.

Posted a year ago

Last reply a year ago

Summary updated 2 months ago

Last updated 03/12 08:00