DeFiSafety Quality Certificates

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DeFiSafety proposed that Aave purchase a $15k/year safety certificate to establish quality standards and communicate safety to investors, with the suggestion that it could be funded through an Aave Grant. The proposal was generally well-received, with discussions focusing on the certificate's implementation, the independence of the rating system, and the potential for it to be seen as a UI upgrade.

The discussion primarily revolved around the proposal by RexShinka from DeFiSafety for Aave to purchase a safety certificate. The certificate, costing $15k per year, would certify the quality and safety of Aave's protocol, allowing Aave to display a DeFiSafety badge on their website. The rating would also be publicly available on the Protocol score website. DeFiSafety argued that such certificates are necessary for the DeFi industry to establish quality standards and communicate safety to investors. They believe that expecting users to do their own research on technical safety is unreasonable and that having established quality standards would be beneficial when regulators inevitably look at DeFi1.

Fig suggested that due to the size of the request, it would be better suited for Aave Grants rather than a full proposal. They also mentioned that adding a badge to the Aave website might qualify as a UI upgrade2,4. RexShinka clarified that more than the funding, they are interested in whether Aave accepts the idea of certificates and would be willing to display the DeFiSafety badge on their website and promote the idea to other protocols3. Fig suggested discussing future upgrades with AaveCompanies as they have shown interest in owning such upgrades, which were previously voted on via Snapshot4.

The discussion also included concerns raised by Neptune about the rating system's independence and the limitations for non-subscribed users6. RexShinka responded by emphasizing the transparency of their ratings and reports, and the need for a financial model to sustain their operations. He proposed a certificate model, asking for Aave's public support after purchasing one7. Bgdlabs supported DefiSafety's track record and proposed budget of $15k per year, suggesting that the DAO should agree to it8. RexShinka appreciated the support and mentioned that they would place a Grant up without delay9.

In conclusion, the discussion ended with a general consensus on the importance of safety certificates for DeFi protocols. The proposal by RexShinka was well-received, with suggestions for it to be taken up as an Aave Grant. The community showed interest in the idea and looked forward to further discussions on the implementation of the safety certificate.

Posted 10 months ago

Last reply 10 months ago

Summary updated 2 months ago

Last updated 08/12 04:39