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TokenLogic proposed a 6-month service provider agreement with Aave DAO, including a plan to swap 350,000 aethDAI from the Treasury to GHO, which sparked community discussions on budget breakdown and strategy clarity. Following concerns about compensation size and requests for transparency, TokenLogic announced team expansion plans and the cancellation of the current proposal, with a revised proposal to be prepared soon.
The discussion primarily focused on a proposal by TokenLogic for a 6-month service provider agreement with Aave DAO. The proposal aimed to formalize TokenLogic's contributions to the Aave ecosystem and secure funding for the team to deliver the outlined scope in the TEMP CHECK. The proposal detailed a plan to swap 350,000 aethDAI from the Treasury to GHO via the Aave Swap contract, creating a 180-day stream for 350,000 units of GHO1.
Community members, including ApuMallku and 0xkeyrock.eth, requested a budget breakdown and clarity on differing views and strategies proposed by Dydymoon and TokenLogic2,3. Dydymoon clarified their independent contributor status to Aave DAO and their decision to stop contributing to TokenLogic to prevent further confusion4. In response to the feedback, TokenLogic announced plans to hire a DeFi Strategist and develop a frontend for the Safety Module (SM) and GHO bribe model7.
Concerns were raised by Kene_StableLab about the size of the compensation for the TokenLogic team, questioning the justification for $700k/year for four contributors9. Jengajojo suggested breaking down the funding request between a fixed amount and performance-based compensation to provide clarity and align incentives10. TokenLogic responded by announcing their plans to use funding to expand their team, which currently includes R3genFinance and a part-time designer. They are looking to hire a developer and strategist7.
The discussion evolved with the community seeking clarity and transparency in the proposal and its execution. The outcome of the proposal and its acceptance within the community were yet to be determined. ApuMallku asked TokenLogic about the status of a certain proposal. The specifics of the proposal were not mentioned12. However, TokenLogic announced that they have decided to cancel the proposal based on discussions with various stakeholders within the Aave community. They plan to prepare a revised service provider ARFC proposal in the coming week13.
Posted 3 months ago
Last reply 2 months ago
Summary updated 2 months ago
Last updated 06/12 00:43