Aave

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Title: [ARFC] Establishing the Aave Protocol Embassy (APE)

Author: Marc Zeller - Aave Chan Initiative

Date: 2024-01-29

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Summary

The Aave Chan Initiative proposes the establishment of the Aave Protocol Embassy (APE), a dedicated entity to represent the Aave DAO in the governance of other protocols, particularly for upcoming Long-Term Incentive Plans (LTIPs) on networks like Arbitrum.

Motivation

The Aave DAO possesses significant voting power in various governance tokens. However, the current structure of the collector contract hinders direct participation in other DAOs’ governance. To effectively leverage this power and actively participate in pivotal governance decisions, such as LTIPs on Arbitrum, the creation of APE is essential. This will allow the Aave DAO to have a mete-governance embassy represented by Aave DAO service providers and significant delegates.

Specification

APE will function as a 3/4 Gnosis SAFE multisig, holding governance tokens to cast votes on behalf of the Aave DAO. The proposed multisig structure requires a 3/4 signature for actions:

• ACI (acting as the coordinator) : Delegate and service provider
• Token Logic : Delegate and service provider
• KarpatKey: Delegate and service provider
• EzR3al : largest delegate platform

This proposal aims to seed this Multisig with Aave DAO ARB tokens currently held by the Aave Collector contract. Aave Treasury V3

Next Steps

1. Initiate a discussion within the Aave community to gather feedback on the proposal.
2. Conduct a snapshot vote for community consensus.
3. If successful, proceed with an AIP seeding the multisig with the ARB tokens

Disclosure

The Aave Chan Initiative, along with the proposed multisig members, will manage APE with a commitment to representing Aave DAO’s best interests in external protocol governance, without external compensation.

Copyright

Copyright and related rights waived under Creative Commons Zero (CC0).