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Oneski22 proposed a new governance process for onboarding GHO Facilitators to the Aave DAO-operated GHO deployment, involving application, discussion, offchain and on-chain voting. The proposal received positive feedback and was escalated to a TEMP CHECK snapshot, indicating community agreement to proceed with the onboarding process while balancing liquidity concerns.
The discussion revolved around a proposal by Oneski22 for a new governance process for onboarding GHO Facilitators to the Aave DAO-operated GHO deployment1. The process involves interested parties applying via the Aave Forum, followed by a discussion period and an offchain vote using Snapshot. If successful, an on-chain vote will formally add the facilitator to the GHO system1. The proposal also includes a detailed Facilitator Application Template and an example application for the Aave V3 Ethereum Market1.
The Aave DAO and its subcontractors will operate and manage the Aave V3 Ethereum Market Facilitator. The Facilitator will enable the addition of GHO to the Aave V3 Ethereum Market as a borrow-only currency. The GHO Credit line will be used to allow Aave V3 Ethereum users to borrow GHO against their collateral pledged on the Aave V3 Ethereum Market. The revenue streams will be from interest earned from borrow positions and liquidation bonuses accrued from poorly managed positions. All revenue will go to the Aave DAO Treasury1.
The discussion also included feedback from MarcZeller, representing the Aave-Chan Initiative (ACI), who responded positively to Oneski22's proposal but emphasized the need to prioritize achieving a critical mass of secondary liquidity before considering the onboarding of new facilitators2. Khan agreed with MarcZeller's feedback but pointed out that liquidity is a chicken-and-egg problem. They suggested that facilitators could be a key tool for promoting demand-side growth and that GHO should have a facilitator framework in place as soon as possible3.
In response to the feedback, Oneski22 decided to escalate the matter to a TEMP CHECK snapshot4. The snapshot was positive and proposed to advance the GHO Facilitator Onboarding Process and Application to ARFC5. This indicates a general agreement within the community to move forward with the proposed onboarding process, while also considering the need for a balance between liquidity and the onboarding of new facilitators.
Posted 8 months ago
Last reply 7 months ago
Summary updated 2 months ago
Last updated 05/12 01:14