iip: 34 title: Index Coop - Aave Delegation Address status: Proposed author: Matthew (@Matthew_Graham) Noah (@ncitron) Cedric (@cedrick) Greg (@gregdocter) created: 2021-04- 21 Multi-Sig Aave Delegate Address: 0x456D9560534630AD2dCDB90ebe74ca63DE210d65

Simple Summary

This IIP requests authorization for Index Coop to create a multisig address to which all of DPI’s Aave voting rights are delegated. This is intended to be for the sole purpose of proposing and voting on listing DPI as a collateral asset (ARC: Add support for DeFi Pulse Index (DPI))

Abstract

All Aave voting rights are to be delegated to the following address: 0x456D9560534630AD2dCDB90ebe74ca63DE210d65

This address is a multisig address controlled by three individuals from the Index Coop community. 2 of 3 approvals will be needed to cast a vote and the following three individuals are being put forth:

1. Matthew Graham (@Matthew_Graham)
2. Cedrick (@cedrick)
3. Noah Citron (@ncitron)

This is the rise of Index Coop as an Aave Politician. Anybody who holds AAVE or stkAAVE can delegate their voting rights to the address above. This can be done via Sybil, link here.

Index Coop supports DPI’s voting on Aave via the following steps:

1. A governance vote is called for Aave on Snapshot.
2. The proposal is duplicated on Index Coop’s snapshot page here. 2
3. The meta governance voting period will end 24 hours before the underlying governance vote ends.
4. $INDEX holders vote on the meta governance proposal on Index Coop’s snapshot page above.
5. At the end of the voting period if a 5% quorum is reached, the multisig address will vote according to the related snapshot proposal majority

Motivation

Even more important than the ability to vote, is the ability to put forward proposals on Aave. This will become increasingly important as we look to onboard new products to Aave’s platform. Details on the AIP process can be found here.

In order to submit an AIP, a minimum number of votes is needed to meet the proposal power requirement for creating and sustaining a proposal. To have DPI listed on Aave, we need 80,000 votes, link here to meet the proposal power requirement.

With a pipeline of products coming to market, the ability to put forward ARCs & AIPs proposals on Aave’s governance forum will become important for accelerating product integration across the ecosystem.

As of April 20, the DPI holds $24M worth of Aave or 65,639.52 votes.

FOR

• Delegate Aave voting power from the DPI address to 0x456D9560534630AD2dCDB90ebe74ca63DE210d65 for metagovernance vote execution

AGAINST

• Do not delegate Aave voting power from the DPI address to 0x456D9560534630AD2dCDB90ebe74ca63DE210d65 for metagovernance vote execution

Copyright

Copyright and related rights waived via CC0.