Renew Aave Grants DAO
01Summary
Transfer $2 million in AAVE tokens quarterly to Aave Grants DAO to fund ecosystem projects, increasing from the previous $1 million pilot program budget, with additional $2 million quarterly operations budget.
- Type
- treasury allocation
- Funding
- $$2,000,000 per quarter (or $8,000,000 annually when including operations budget)
Key changes
- Increase quarterly grants budget from $1 million to $2 million(high)
- Add $2 million quarterly operations budget for AGD(high)
- Expand grant types to include non-developer grants, sponsorships, and community events(medium)
- Work toward decentralizing the grants process(medium)
Generated by Kvorum
02Description
Simple Summary
Provide Aave Grants DAO (AGD) with a $2m per quarter budget to fund more projects that benefit Aave.
Abstract
AIP 17 established Aave Grants DAO on May 4, 2021 with the goal of funding ideas and builders in the Aave ecosystem. The two quarter pilot program had a grants budget of $1 million and an operating budget of $250,000 per quarter. The pilot program has awarded $1.17m to 38 grant recipients and made the initial steps to put the grants process and the protocol in the hands of the community.
Moving forward we propose renewing Aave Grants DAO with an increased grants budget of $2 million and an operations budget of $2 million per quarter. With the increased budget we will increase the number of larger community grants, fund non-developer grants including sponsorship and community events, and work to decentralize the grants process.
Motivation
AGD’s mission is to build a thriving ecosystem of contributors for Aave. We provide grants to projects, ideas, and events that benefit Aave and its ecosystem. We hope to be at the forefront of ecosystem development at Aave. Ensuring a constant influx of talented builders is critical to Aave’s growth.
Test Cases
The full test of this proposal can be found here: https://github.com/aave/aave-grants-update-and-renewal
Implementation
In order to transfer funds from the Aave Ecosystem Reserve, the proposal will target the contract ControllerAaveEcosystemReserve and call the function transfer(IERC20 token, address recipient, uint256 amount).
Target Contract
ControllerAaveEcosystemReserve = 0x1E506cbb6721B83B1549fa1558332381Ffa61A93
Transfer Parameters
token = the aave token 0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9
recipient = the grants dao multi-sig = 0x89C51828427F70D77875C6747759fB17Ba10Ceb0
amount = $2 million / ($189.67 / aave) = 10544.63 adjust for decimals = 10544630000000000000000
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal's abstract explicitly requests two distinct $2,000,000 quarterly budgets (grants and operations), suggesting a total quarterly transfer need of roughly $4,000,000. However, the Implementation section's own math and the single decoded on-chain action only calculate and execute a transfer sized for $2,000,000 (10,544.63 AAVE at the stated $189.67/AAVE price) to the Grants DAO multisig. There is no second action or larger amount that would account for the separately stated $2,000,000 operations budget. This leaves a real gap between what the prose claims will be funded and what the calldata actually funds — either the operations budget figure is a description error or the transfer amount is understated, but as written the two do not reconcile. Because this concerns a significant sum of DAO funds, it merits flagging as a material (financially significant) discrepancy rather than a cosmetic one, even though the executed action itself (a straightforward token transfer to the correct token address and correct recipient) is otherwise consistent with the described mechanism and destination.
Discrepancies
- highvalue mismatch
The Abstract states two separate quarterly budgets of $2,000,000 each — a grants budget and an operations budget — implying a combined ask of roughly $4,000,000 per quarter. However, the Implementation section and the single decoded transfer only move enough AAVE (~10,544.63 tokens) to cover $2,000,000, i.e. only one of the two stated budgets. There is no second transfer or mechanism funding the described $2,000,000 operations budget.
“we propose renewing Aave Grants DAO with an increased grants budget of $2 million and an operations budget of $2 million per quarter”
Generated by Kvorum
04Actions
- Target
- 0x1e50…1a93
- Value
- 0 wei
- Function
- transfer(address,address,uint256)
- Arguments
{ "0": "0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9", "1": "0x89C51828427F70D77875C6747759fB17Ba10Ceb0", "2": "10544630000000000000000" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| DD0xdd70…8202 | For | 191.6K | 34.61% | — | 5y ago |
| F60xf63e…78c8 | For | 106.7K | 19.27% | — | 5y ago |
| C10xc17c…64e1 | For | 103.3K | 18.66% | — | 5y ago |
| 990x990d…f1c2 | For | 100K | 18.06% | — | 5y ago |
| 7E0x7e2e…0c61 | For | 33.3K | 6.02% | — | 5y ago |
| 070x0703…961b | For | 10K | 1.81% | — | 5y ago |
| 700x704d…a0df | For | 2.9K | 0.53% | — | 5y ago |
| 800x80dc…c146 | For | 2.5K | 0.45% | — | 5y ago |
| 500x50db…207c | For | 1.9K | 0.34% | — | 5y ago |
| F50xf569…271b | For | 1.2K | 0.21% | — | 5y ago |
| E10xe160…c377 | For | 68.1 | 0.01% | — | 5y ago |
| 8D0x8d07…a265 | For | 50 | 0.01% | — | 5y ago |
| AD0xad54…99d1 | For | 42.6 | 0.01% | — | 5y ago |
| 620x62a4…816a | For | 30.7 | 0.01% | — | 5y ago |
| 100x10d6…7178 | For | 16.4 | 0.00% | — | 5y ago |
| A00xa0ef…2d56 | For | 8 | 0.00% | — | 5y ago |
| B60xb63a…12a0 | For | 1.5 | 0.00% | — | 5y ago |
07Forum
No forum thread is confidently linked to this proposal.
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