Aave

Title: [ARFC] Modify Snapshot Proposal Threshold

Author: @fig [Flipside Crypto]

Created: 2023-04-07

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Summary:

This proposal presents updating Aave’s Snapshot space’s proposal threshold to 250 AAVE.

Abstract:

Aave has experienced instances of scammers and bad actors attempting to submit phishing proposals. These proposals have caused disruptions in Aave’s off-chain governance and have resulted in a waste of time and resources.

To prevent these incidents from happening again, we propose modifying the Snapshot proposal threshold to 250 AAVE.

Motivation:

We recommend that the community update the proposal threshold to a level that would deter scammers and bad actors. The new threshold would require proposals to meet certain minimum requirements, in this case holding or delegated 250 AAVE (or equivalent.)

This level is 3.3X the previous proposal threshold as of 04/07/23. By updating this threshold, we can ensure that only legitimate proposals are considered and that the risk of scams, illegitimate, or fraudulent proposals is significantly reduced.

Here is an example of recurring junk proposals:

By modifying the proposal threshold required to post a Snapshot, there are many benefits for Aave’s off-chain Governance process.

A few notable ones include:

1. Better quality proposals: By setting a higher threshold, we will receive proposals from more experienced and qualified professionals and delegates
2. Reduced risk of fraud: Increasing the proposal threshold will help to reduce the risk of scams and fraudulent proposals.
3. Improved efficiency: By setting a higher threshold, we will have fewer proposals to review, which will help us to be more efficient with our time and resources.

Specification:

To implement this proposal, an Aave Snapshot admin will need to update the space’s proposal threshold to 250 AAVE and communicate these new requirements.

A list of existing admins with this ability:

• @monet-supply
• @marczeller
• 0xc8E0345596D7196941E61D3aB607E57Fe61F85E7
• 0x2357df661D0E56140dF30c3ad0b2B426fB4666e6
• 0x60C8dC4762b217b4A00FF1824111077f331B1FbF
• 0x2D0D6A8553993a3E9eD1D86415358D1EDEfa82F1

Next Steps

Next steps to ensure a successful upgrade of Snapshot’s proposal threshold:

1. Gather feedback and input from the Aave community on the proposed threshold
2. Incorporate and refine the proposal based on feedback from the community
3. Upgrade and communicate the new requirements to potential proposers

Conclusion:

Increasing the proposal threshold is a simple but effective way to prevent scammers and bad actors from submitting proposals.

By doing so, we can ensure that we receive better quality proposals, reduce the risk of fraud, and be more efficient with our time and resources.

Flipside will work with community stakeholders like @MatthewGraham (TokenLogic) @MarcZeller (ACI) @bgdlabs to create related proposals which revamp and updates the Snapshot space and permissions.

This is the first of a series to come.

Copyright

Copyright and related rights waived via CC0.