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AIP. Renewal of Safety Module AAVE allowance

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governance.aave.com

TL;DR:

Bgdlabs has proposed an on-chain proposal to renew the Aave Safety Module's allowance to transfer AAVE from the Ecosystem’s Reserve, a necessary step for rewards distribution. Stani supports the proposal, suggesting it can proceed directly to on-chain after review, indicating likely community support for the renewal of allowances and continued rewards distribution.

In the ongoing discussions, Bgdlabs has proposed an on-chain proposal to renew the allowance of the Aave Safety Module to transfer AAVE from the Ecosystem’s Reserve. This is a necessary step to cover the accruing claims of rewards. The current rewards distribution system requires stkAAVE and stkABPT to have sufficient allowance of AAVE from the Ecosystem’s Reserve to transfer the rewards to the staker. This technical setup provides a degree of separation between the Safety Module and the Ecosystem’s Reserve, but it also requires periodic renewal of the allowance. At present, the allowance on stkAAVE is approximately 19,111 AAVE and on stkABPT is around 1,088 AAVE. The proposal aims to extend these rewards exclusively.

Stani has expressed agreement with the proposal, noting that it merely increases the allowance between the Ecosystem Reserve and Safety Module without making any significant changes. As such, Stani believes it's acceptable to proceed directly to on-chain after a thorough review, bypassing the Snapshot in this instance 1,2. This consensus suggests that the community is likely to support the proposal, leading to a renewal of the allowances and ensuring the continuation of rewards distribution.

Posted a year ago

Last reply a year ago

Summary updated 2 months ago

Last updated 03/12 08:01