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TokenLogic proposed to replace the Aave Grants DAO's (AGD) DAI allowance with a GHO allowance to encourage GHO adoption and usage. This significant shift in AGD's funding model, which includes settling all AGD and Service Provider expenses in GHO, was put to a Snapshot vote, with potential implications for wider GHO adoption and coinciding with the ARFC to increase GHO's interest rate.
The discussion primarily revolved around a proposal put forth by TokenLogic to replace the Aave Grants DAO’s (AGD) DAI allowance with a GHO allowance. The aim of this proposal is to encourage the adoption and usage of GHO. The AGD currently has an unclaimed DAI balance of $377,938.79. The proposal suggests that the Aave DAO could acquire GHO on the market to support the peg and then use the GHO to fund the AGD. It was also proposed that all AGD and Service Provider expenses should be settled in GHO in the future. The assets to be swapped to GHO from the Treasury include 228,000 units of aEthUSDC and 150,000 units of aEthUSDT. The DAI allowance will be cancelled and a GHO allowance will be created to the value of 385,000 units1.
In response to the proposal, a Snapshot vote was initiated by TokenLogic. The community was thanked in advance for their participation in the vote2. The proposal and subsequent vote represent a significant shift in the AGD's funding model, with potential implications for the wider adoption and usage of GHO. The implementation of the proposal is expected to coincide with the ARFC to increase GHO’s interest rate. This discussion and the resulting vote are crucial steps in the evolution of the Aave DAO and its associated financial mechanisms.
Posted 3 months ago
Last reply 3 months ago
Summary updated 2 months ago
Last updated 09/12 13:52