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Proposal overview

Renew Aave Grants DAO

Executed

Executed on 

May 15, 2022

Simple Summary

Provide Aave Grants DAO (AGD) with $6m ($3m per quarter budget) to fund more projects that benefit Aave.

Abstract

After two successful quarters of Aave Grants DAO, we are looking to renew the program for the next two quarters by providing $3 million dollars in AAVE and $3 million dollars in aUSDC ($3 million per quarter). By partially funding the AGD with stablecoins, budgeting will be easier. The aUSDC will be funded through an approval and the AAVE will be funded with a transfer. Our initial proposal was made in May 2021 and our renewal proposal was made in November 2021.

Motivation

Aave Grants DAO is a community-led grants program, focused on growing a thriving ecosystem of contributors within Aave through funding ideas, projects and events that benefit the ecosystem. We aim to drive development on top of Aave and ensure a constant influx of talented builders to maintain Aave’s long term growth. We help build culture and community around the Aave ecosystem that in turn attracts the best contributors.

Test Cases

The full test of this proposal can be found here: https://github.com/llama-community/renew-aave-grants

Implementation

This proposal includes a $3M transfer of AAVE from the AaveEcosystemReserve to the grants DAO multisig and the AaveV2Collector approving $3M of aUSDC to the grants DAO multisig. This will allow the grants DAO to withdraw funds as needed and let the V2Collector to continue to earn interest in the meantime. The proposa payload will target the contract AaveEcosystemReserveController and call the function function transfer(address collector, IERC20 token, address recipient, uint256 amount) and approve(address collector, IERC20 token, address recipient, uint256 amount).

Target Contracts

ProposalPayload = 0x8e7df91fed22c192a3aa1bb6143879295ee91295

Copyright

Copyright and related rights waived via CC0.

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Voting results

YAE

443.14K

100.00%

NAY

0

0%

State
Executed

Executed on 

May 15, 2022
Quorum
Reached
Current votes

Required

443.14K

320.00K

Differential
Reached
Current differential

Required

443.14K

221.57K

Total voting power

16,000,000

Proposal details

Created

Block

~ 10 May 2022, 09:18 pm

14750866

Started

Block

~ 10 May 2022, 09:18 pm

14750866

Executed

15 May 2022, 03:50 pm

Author

Shreyas Hariharan (@hello-shreyas), Austin Green (@austingreen)

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