Aave

AIP Rationale

The bootstrap of the LEND to AAVE migration process and the creation of the Safety Module was configured to set the final day of emission for the 9th of May 2021. The following AIP moves forward the end date of the emission for the AAVE and AAVE/ETH Safety module to continue with the safety incentives program estabilished within the Aavenomics framework. The date will be set 100 years in the future, to effectively disable the emission date as control mechanism and allow the safety incentives to be controlled only using the emission per second (if there will be consensus around ending the AAVE safety incentives, it will be controlled by setting the emission per second to 0). As a consequence of how the incentives system work and the duration of this vote (which will require high consensus, 10 days vote and 7 days timelock) the emission of AAVE incentives will stop on Sunday 9th, but it will restart from where it left if the vote passes (participants of the safety module will not lose any reward as long as they keep staking while the proposal is executed).

AIP Content in short

Extend the end date of the incentives for the Aave Safety module (stkAAVE and stkABPT) 100 years in the future.

Relevant links

AIP-7 implementing the last quarter Aavenomics quarterly schedule: https://app.aave.com/governance/2-QmVrTta734LkhPcbAXLDcob6gk9NFwiEpggQRYHZx8Mr16

• Community-led main Governance thread on the quarterly schedule plan: https://governance.aave.com/t/arc-fees-rewards-how-to-improve-the-aave-token-value/830
• Aavenomics proposal : https://aave.com/aavenomics

Implementation details

[needed]

Copyright

Copyright and related rights waived via CC0.