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The "Orbit" delegate platform initiative proposed by MarcZeller aimed to transition its funding from the Aave-Chan Initiative (ACI) to the Aave DAO, using $5,000 per month in GHO stablecoin from the Aave DAO treasury. Despite some concerns about delegate selection and reward criteria, the proposal was generally well-received, successfully executed, and marked a significant step towards the initiative's sustainability and independence.
The discussion primarily focused on the proposed update to the "Orbit" delegate platform initiative by MarcZeller. The proposal aimed to transition the funding of the program from the Aave-Chan Initiative (ACI) to the Aave DAO, with the objective of enhancing the program's sustainability and independence. The funding was proposed to be maintained at $5,000 per month, paid in GHO stablecoin, and the Aave DAO treasury's stablecoins would be used to purchase GHO on secondary markets to fund the initiative. The eligibility criteria for the upcoming quarter was set to mirror that of the [ARFC] Quarterly Gas Rebate Distribution - August 2023, with a threshold of voting power and diversity of delegation to be introduced in subsequent quarters1.
Community members voiced their opinions on the proposal. Fig questioned the selection process and the criteria for rewarding delegates, asking if voting was the only metric for contribution3. 0xkeyrock.eth pledged to transparently deploy any received GHO from the DAO as part of the Orbit program in liquidity pools, but expressed concerns about the fairness of the system if a minimum voting power is defined5. WintermuteGovernance declined their portion of GHO rewards, requesting that their share of rewards be retained for the next quarter to support Orbit6. JosepBove suggested having a high voting power as a minimum and argued that the main task for a Delegate is representing the people that delegated the votes to the platform7.
The proposal was escalated to the snapshot stage and voting was set to start the following day8. The discussion concluded with MarcZeller requesting HKUST_EPI_BLOCKCHAIN to confirm a suitable address to receive their Orbit compensation as the AIP was about to be escalated to AIP stage9. The community's response to the proposal was generally positive, with some concerns raised about the selection process and the criteria for rewarding delegates. The AIP was successfully executed and MarcZeller congratulated all Orbit Grant recipients10. This marked a significant step towards the sustainability and independence of the Orbit delegate platform initiative.
Posted 3 months ago
Last reply 2 months ago
Summary updated 2 months ago
Last updated 06/12 00:43