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TokenLogic proposed an upgrade to Aave DAO's Treasury Management tooling, involving the development of smart contracts for asset transfer across various networks, aiming to ensure financial stability and extend the stable coin runway. Despite the cost of development, the proposal is largely seen as positive, with community support, although there's a need for proper documentation for non-technical community members.
The discussion revolves around a proposal by TokenLogic for an upgrade in the Aave DAO's Treasury Management tooling1. This upgrade involves the development of smart contracts to facilitate the transfer of assets across various networks, including Avalanche to Ethereum, Optimism to Ethereum, and Arbitrum to Ethereum1. The ultimate aim is to ensure the DAO's financial stability and extend its stable coin runway. These contracts, once developed, will serve as public goods within the Aave ecosystem1.
The Aave DAO community has been encouraged to vote on this proposal, with the options being YAE (Yes), NAE (No), or ABSTAIN. If the ARFC snapshot stage results in a YAE outcome, TokenLogic will commence the development of the contracts1. The voting period started on October 31, 2023, at 3:29 PM and ended on November 3, 2023, at 3:29 PM2. Eboado has expressed support for the initiative, emphasizing the importance of an internal assets' bridging infrastructure for non-technical treasury management scopes3.
The proposal is seen as a positive step towards ensuring the Aave DAO's financial stability. The creation of these contracts will streamline the transfer of the DAO's funds between various networks. Moreover, the proposal includes a plan for TokenLogic to propose a fund migration to the Ethereum Treasury once the Avalanche to Ethereum bridge contract is completed1. Eboado's support further validates the proposal's positive impact, highlighting the value of small, non-overlapping contributions to the community3.
The only potential downside is the cost associated with the development and implementation of these contracts, which is estimated at $12,430.00, to be paid in GHO. However, this cost is seen as an investment towards the DAO's ongoing financial stability1. Eboado also points out the need for proper documentation and procedural flows for other entities of the Aave community, especially non-technical ones, to use in the future3. This indicates a potential challenge in ensuring the proposal's benefits are accessible to all community members.
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Last updated 03/12 08:00