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Aave DAO proposed to acquire 443,674 AURA from Olympus DAO in exchange for 420,159.28 DAI, a move prompted by reduced support from Aura Finance for GHO pools. Despite potential reworking risks, the proposal escalated to the AIP stage, marking a significant step in Aave DAO and Olympus DAO collaboration.
The discussion revolved around a proposal by TokenLogic for Aave DAO to acquire 443,674 AURA from Olympus DAO in exchange for 420,159.28 units of DAI. This move was motivated by the anticipated reduction in support from Aura Finance for GHO pools. The proposal also involved the redemption of 420,159.28 units aDAI from Aave v2 and the exchange of these units of DAI for AURA with Olympus DAO. The contract for this proposal was to be developed in collaboration with MarcZeller and deployed by the ACI team1.
EzR3aL raised a question about the replacement of Aura's support, to which TokenLogic clarified that the proposal was amended to avoid confusion and that no other bids on AURA have emerged on the Olympus DAO governance forum2,3. TokenLogic later announced the successful spot price offer for 443,674 AURA, with the spot price being 94.70 cents per unit of AURA at the time the bidding window closed. The Olympus DAO Snapshot vote was initiated, and the Aave Snapshot was created for voting4.
Despite the ongoing Olympus DAO Snapshot vote, TokenLogic pointed out a risk that the proposal might require reworking and resubmission5. However, MarcZeller announced that the proposal had escalated to the AIP stage and voting would commence the following day6. This discussion signifies a significant step in the collaboration between Aave DAO and Olympus DAO, with the potential to influence the future direction of both organizations.
Posted 3 months ago
Last reply 3 months ago
Summary updated 2 months ago
Last updated 09/12 13:52