Aave

Simple Summary

Proposal for an engagement of development and security services between the Aave DAO and BGD Labs, from 1st October 2024 until 1st April 2025.

Motivation

For the last two and a half years, BGD Labs has been a service provider of the Aave DAO, contributing with multiple developments, technical maintenance, and security coordination tasks.

The motivation/goal of this new engagement is:

• Keep the stability and trust in the Aave technology.
• Innovate responsibly on production systems.
• Support all other non-tech contributors to the DAO, accelerating progress.

In summary, the same as before, but always striving for better.

Specification

A full description of the scope can be found on the Aave Governance Forum HERE or on the pre-approval on ARFC (Aave Request For Comments) HERE.

In terms of implementation, this proposal sets up the payment schedule defined:

• From the Aave DAO’s treasury (Collector smart contract), an upfront transfer for a value of 1’150’000 aUSDC (v3 Ethereum), 50% of the stablecoins budget.
• From the Aave DAO AAVE Ecosystem Reserve, an upfront transfer for a value of 2’500 AAVE tokens, 50% of the tokens budget.
• From the Aave DAO’s treasury, the creation of a payment stream for a value of 1’150’000 aUSDC (v3 Ethereum), from the execution time of this proposal until 1st April 2025, completing the 6-month duration, for the other 50% of the stablecoins budget.
• From the Aave DAO AAVE Ecosystem Reserve, the creation of a payment stream for a value of 2’500 AAVE tokens, from the execution time of this proposal until 1st April 2025, completing the 6-month duration, for the other 50% of the tokens budget.

The approval of this proposal by Aave governance acts as a binding agreement between the Aave DAO and BGD Labs. Detailed terms of service can be found HERE.

References

• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.