Lower Reserve Factor for AMPL
Simple Summary
This is a sibling proposal to AIP-26 and proposes lowering the AMPL reserve factor from 20% to 10%.
Motivation
Following API-12, AMPL borrowing & depositing went live on the AAVE v2 market [date=2021-07-24 time=20:22:00 timezone=“UTC”]. Since then, there has been a near 100% utilization rate of deposited assets.
The reserveFactor allows the FeeCollector smart contract to receive part of the interest paid by takers of liquidity. Each asset on Aave has its own reserveFactor.
AIP-26 raises the maximum borrowing rate for AMPL and would result in more fees coming into the system. This AIP proposes (in tandem) lowering the AMPL reserve factor from 20% to 10%. This shares more of the revenue with AMPL suppliers to further incentivize deposits.
Relevant Links
- AIP-12 AMPL Listing: https://app.aave.com/governance/18-QmZZ7JqvEx99u7dMNFPBBnew3BgepLCmXRMrNi8y5ndpXn
- AIP-26: https://governance.aave.com/t/arc-raise-ampl-maximum-interest-rate/4996
- Aavenomics: https://docs.aave.com/aavenomics/
Implementation
call setReserveFactor(0xd46ba6d942050d489dbd938a2c909a5d5039a161, 1000)
On the lending pool configurator contract
https://etherscan.io/address/0x311bb771e4f8952e6da169b425e7e92d6ac45756
Copyright
Copyright and related rights waived via CC0.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xc17c...C264E1 | 123,333 | YAE |
 0x10F8...Af1f92 | 92,702 | YAE |
 0x5BC9...26D76c | 83,863 | YAE |
 0x4Bf0...0e40Fc | 64,057 | YAE |
 0x704D...8eA0Df | 5,192 | YAE |
VOTE POWER
Proposal Status
- Published Onchain
0x32a9...f0fB2C - Wed August 04 2021, 07:32 pmVoting Period Starts
- Sat August 07 2021, 07:03 pmEnd Voting Period
- Sat August 07 2021, 08:03 pmQueue Proposal
- Sun August 08 2021, 08:49 pmExecute Proposal
Current Results
1-YAE
373,144.7
2-NAY
N/A Tokens