Aave

Summary

This Snapshot aims to solidify the community’s preference around GHO’s starting parameters for the V3 Ethereum facilitator.

Voting Options

Given there is still some discussion around trade-offs between scalability and managing risk in terms of how aggressive the initial parameters should be, we believe it is best to take two options to Snapshot, option A as proposed by the ACI in consort with Chaos Labs, and option B as proposed initially by Aave Companies. The DAO’s preference can then be expressed clearly.

For option A, the following parameters are proposed in line with the ACI and Chaos Labs’ recommendations:

Parameter	Value
Borrow Rate	1.5%
Bucket Capacity	$100M
stkAAVE Discount Rate	30%
Discount Limit	25% of total GHO bucket size

For option B, as proposed by Aave Companies, the following parameters are proposed:

Parameter	Value
Borrow Rate	2%
Bucket Capacity	$50M
stkAAVE Discount Rate	25%
Discount Limit	25% of total GHO bucket size

To renew discussion at the Temp Check phase there is also an option to abstain.

Next Steps

Once a community preference is expressed for GHO’s initial parameters on Aave V3 Ethereum via this temp Check, there will be a separate proposal, requesting approval for a Flashminter Facilitator with initial parameters, which will go through the Temp Check process.

Once both the V3 Ethereum Parameters and the FlashMinter Parameters are agreed upon via Snapshot both will be combined for a final ARFC.