Governance Polls: Greenlight Polls for Collateral Types,Whitelist Oracles and more

https://blog.makerdao.com/governance-polls-october-19-2020/

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement greenlight polls for collateral types, whitelisting oracles, and more.

Community Greenlight Polls

Description

The Governance Facilitators have placed a governance poll into the voting system which asks whether the following assets should be prioritized for inclusion in the Maker Protocol by the domain teams.

If greenlight votes exceed defer votes, this poll is to be taken as a signal to domain teams that MKR Token Holders have approved further domain work with the aim of adding assets as collateral to the Maker Protocol.

UNI-V2-USDT-ETH (Uniswap USDT-WETH Liquidity Tokens) – Info
aUSDC (Aave USDC) – Info
CRO (Crypto.com Coin) – Info
UNI-V2-WBTC-ETH (Uniswap WBTC-WETH Liquidity Tokens) – Info
UNI (Uniswap) – Info
cUSDC (Compound USDC cToken) – Info
OST-1 (UPRETS Oosten Fund I LP) – Info
yUSD (yyCRV) – Info
KF-DROP (Kickfurther DROP) – Info
OMG (OMG Network) – Info
CRV (Curve DAO Token) – Info

Monthly MIPs Governance Poll

The Governance Facilitators have placed the MIP3: Monthly Governance Poll into the voting system. This poll asks whether the bundled contents of this month’s Governance Cycle should proceed to an Executive Vote to be held on October 26, 2020. The bundled contents of this poll consist of the following MIPs and Subproposals.

MIPs

Subproposals

This Governance Poll will be active for three days beginning on Monday, October 19 at 16:00 UTC.

Review

The proposals can be reviewed in this week’s weekly MIPs update here. It was also discussed on the latest Governance and Risk call on October 15, 2020.

Next Steps

MKR holders must vote to determine whether to accept or reject the bundle of proposals included within the Monthly Governance Poll, determining whether the bundle should proceed to the final ratification vote (Executive Vote) in the last week of the monthly Governance Cycle.

The Executive Vote will be submitted on October 26, 2020 if the Governance Facilitators confirm a ‘yes’ outcome of the Monthly Governance Poll on the next Governance and Risk call on October 22, 2020.


Resources

MIP3: Governance Cycle describes this type of poll and goes into more detail about its position and significance within the rest of the governance cycle.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

Whitelist B.Protocol on ETHUSD Medianizer Oracle (MIP10c9-SP12)

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. The community can vote in this poll to express support or opposition to appending B.Protocol to the ETHUSD Oracle Medianizer whitelist to read price data.

Note: This subproposal has been submitted under the informal weekly cycle rather than the MIP3 Governance Cycle due to inconsistencies between MIP10 and MIP3 and to avoid delaying progress in the oracles domain until MIP10 can be amended.

Review

Please review the application thread to inform your position on this issue before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a ‘No’ majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

 

Whitelist B.Protocol on ETHUSD Oracle Security Module (MIP10c9-SP13)

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. The community can vote in this poll to express support or opposition to appending B.Protocol to the ETHUSD Oracle Security Module whitelist to read price data.

Note: This subproposal has been submitted under the informal weekly cycle rather than the MIP3 Governance Cycle due to inconsistencies between MIP10 and MIP3 and to avoid delaying progress in the oracles domain until MIP10 can be amended.

Review

Please review the application thread to inform your position on this issue before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, this change change will be included in the weekly Executive Vote on the Friday following the conclusion of this poll.

If this poll ends with a ‘No’ majority, then no further action will be taken.

If the Friday executive passes, then this change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Increase the Surplus Auction Buffer

The MakerDAO Governance Facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO Risk Domain. The community can use this poll to express support or opposition to increasing the Surplus Auction Buffer, also referred to as the ‘System Surplus’, from 2,000,000 DAI to 4,000,000 DAI. More information on this parameter can be found here.

This Governance Poll (FAQ) will be active for three days beginning on Monday, October 19 at 16:00 UTC, the results of which may inform an Executive Vote (FAQ) which will go live on Friday, October 23, at 16:00 UTC.

Review

Please review the Signal Request to inform your position before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, this change will be included in the Executive Vote on Friday, October 23, 2020.

If this poll ends with a ‘No’ majority, then the Surplus Auction Buffer will not change at this time.

Poll: Approve Maker Representatives – October 19, 2020

The MakerDAO Governance Facilitator has placed a governance poll into the voting system on behalf of the Maker Governance community which gives Maker Governance the chance to signal their support or opposition for the initial list of individuals serving as Maker Representatives based on the contents of MIP21 and MIP13c3-SP4.

This non-standard weekly Governance Poll (FAQ) will be active for 3 days beginning on Monday, October 19 at 16:00 UTC.

Review

Please review the Signal Request for a detailed outline of the proposal and to inform your position before voting. A brief summary of the individuals nominated is provided below.

Subject to both MIP13c3-SP4 and MIP21 passing successfully through the October governance cycle, the community nominates the individuals below to serve as Maker Representatives pursuant to MIP21 and MIP13c3-SP4.

The individuals proposed to be the initial Maker Representatives are:
@Joshua_Pritikin
@Planet_X
@MakerMan
@ElProgreso
@maarten
@mario
@ejbarraza
@SebVentures
@spin

Next Steps

If this proposal passes then:

  • The individuals above are empowered to serve as Maker Representatives as described in the signal request and linked proposals and will collaborate to implement MIP21 and MIP13c3-SP4.
  • 6s Capital will then engage with each person individually.

If this proposal fails to pass then:

  • The status quo will remain.
  • 6s Capital will work to produce an alternative proposal based on feedback.

Resources

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

The post Governance Polls: Greenlight Polls for Collateral Types,Whitelist Oracles and more appeared first on Maker Blog.

Bancor Announces BNT Governance via 2.1 Upgrade

https://defirate.com/bancor-2-1/

Bancor – a DeFi Automated Market-Maker (AMM) – showcased token-based governance as well as additional features for the AMM promising to eliminate impermanent loss in its v2.1 upgrade.

The upgrade introduces a governance token wrapper – vBNT – generated by staking BNT in specific whitelisted Bancor liquidity pools. The v2.1 upgrade will change the tokenomics of the existing BNT token by introducing an elastic supply used to enable single-sided exposure & impermanent loss protection.

Existing AMM pools generally require users to take on exposure to assets outside of a user’s native holdings, inevitably incurring impermanent losses. While there have been many approaches to liquidity provider incentivization, it’s fair to say that no one has solved the puzzle of impermanent loss quite yet. Bancor’s new announcement looks promising and seems to be a fresh take compared to what is currently live on the market.

How Does It Work?

In Bancor’s new model, liquidity providers would accrue liquidity protection over time while collection fees from swaps, theoretically making the prospects of being a long term liquidity provider much more attractive.

Bancor will use its protocol token, BNT, as the counterpart asset in every pool, starting with 60 possible whitelisted pools, half of which have already been whitelisted today.

To learn more about the new governance token and upgrades made to the AMM check out Bancor’s blogpost here.

If you’re interested in staking BNT to receive vBNT and partaking in Bancor governance, check out their detailed staking guide here.

What’s Next

In order for any of the exciting changes covered above to occur, BNT holders must vote in favor of the Bancor v2.1 proposal. Voting on the proposal began today and last for 3 days. A quorum of 20% of staked vBNT will be required to approve the proposal.

You can join the discussion on Bancor v2.1 on their Discord governance channel or their Telegram Group.

To stay up with Bancor, follow them on Twitter.

The post Bancor Announces BNT Governance via 2.1 Upgrade appeared first on DeFi Rate.

How to use your PHZT for Governance voting on TLT Finance

https://medium.com/@tltphzt/how-to-use-your-phzt-for-governance-voting-on-tlt-finance-45cf84df922f?source=rss------cryptocurrency-5

It has been a while, but the day is almost here!. Governance is about to be enabled for TLT Finance and you will be able to use your warm…

Continue reading on Medium »

Initiating Governance Proposals Guidelines

https://medium.com/sogurcurrency/initiating-governance-proposals-guidelines-318e6a5a90fa?source=rss------cryptocurrency-5

Sögur’s governance system allows Participants to submit governance proposals for the consideration of other Participants which then may…

Continue reading on The Stories Behind Sögur »

Cream Finance Partially Delists FTT Amidst Governance Contention

https://defirate.com/cream-ftt-delisting/

Cream Finance – a lending protocol for nascent DeFi tokens – has hosted a governance poll around the collateral parameters for FTX’s FTT token in light of severe borrowing abilities.

What started as a Compound fork has since seen niche demand in providing money markets for DeFi assets that are not listed on other major lending markets due to their nascency and high-risk nature. For example, Cream was the first lending protocol to support lending for YFI, SUSHI, SWRV and UNI.

Now, Cream has come under fire after $75M worth of FTT, the native token of FTX, was used to borrow and short leading DeFi assets like YFI over the weekend. FTX’s CEO Sam Bankman-Fried recently took to Twitter to defend the use of $FTT on CREAM following many prominent community members suggesting Cream should delist FTT.

In his tweetstorm, he seemed to imply that any sort of governance vote on CREAM to change FTT lending parameters would be unfair as a single address holds over 75% of all votes. Sam also goes on to provide evidence that his centralized exchange token has a lower risk of price crash compared to the basket of DeFi tokens that are listed on Cream.

Popular anon accounts pointed out that with FTT being a centralized token, Sam could manipulate it in various ways for his own profit at the detriment of other users on Cream and more broadly the entire DeFi ecosystem.

 

The Snapshot proposal on Cream Finance decided to partially delist FTT by decreasing its borrowing power on the platform. This comes in agreement with reputable names such as Robert Leshner, founder of Compound Finance, suggesting a middle ground of adjusting FTT parameters on Cream instead of getting rid of it entirely.

The decision to reduce the FTT collateral goes to show that decentralized governance really rallies around large scale DeFi price swings, however these decisions historically takes multiple days to resolve in order to give everyone a fair voice.

While FTT’s borrowing power reduction can be seen as a win to the DeFi community, let’s keep in mind that these protocols are designed to support uses exactly like this, and at the end of the day DeFi remains a whale’s game to trade however they see fit.

To get more updates on Cream, follow them on Twitter.

The post Cream Finance Partially Delists FTT Amidst Governance Contention appeared first on DeFi Rate.

Boardroom Raises $2.2M Seed Round for Governance Management

https://defirate.com/boardroom-seed-round/

Boardroom – a governance management platform – has closed a $2.2M seed round led by Standard Crypto to create a cross-platform governance aggregator.

 

Boardroom believes that crypto networks will overtake traditional forms of management and ownership structures. It aims to provide the tooling & infrastructure necessary to scale the new ownership economy through a trusted governance dashboard by supporting protocols like Compound, yEarn Finance, Powerpool, Rarible, Yam, Aave, Balancer, and Curve.

The seed round comes with participation from VariantCoinFundIDEO CoLab VenturesFramework Ventures, and Slow Ventures along with community-based organizations and angels MetaCartel VenturesDivergenceThe LAOStani Kulechov (Aave), Kain Warwick, Jordan Momtazi (Synthetix), Tarun Chitra (Gauntlet), Spencer Noon (DTC), Bollinger Investment Group, and Free Company.

Why Boardroom?

Managing governance across multiple protocols is becoming increasingly more complex as different standards and voting frameworks are being introduced every day.  The Boardroom Hub gives users a simple way to participate across various protocols all through one dashboard, offering extensions and context on proposals to easily inform decisions and delegating voting power to trusted individuals.

Besides building tools for high-value digital stakeholders to scale their governance participation across various protocols, Boardroom also aims to serve as an aggregator of fragmented data relating to governance. The Boardroom SDK will give builders an easy way to access standardized governance data across protocols. This data can be integrated into any native UI, providing a foundation on which others can continue to build on top of.

Company Origins

Boardroom started as a hackathon project named Kora Governance, the first minimum viable version of Boardroom was launched 4 months ago. Since then, the idea has been able to greatly improve the product with the help of feedback from proven builders and industry leaders such as Stani Kulechov, Kainwarick, Tarun Chitra, MetaCartel Ventures, and more.

The Boardroom team has made it clear that their doors are open if any builders want to chat about governance systems and UX. If you’re interested in participating in giving feedback on Boardroom or otherwise engaging with the team, join their Discord here.

The raise goes to show that governance is continuing to grow in DeFi as platforms like Snapshot and Boardroom offer tools for teams to quickly plug into voting tools to better engage token communities in a simple, intuitive fashion.

To stay up with Boardroom, follow the project on Twitter.

The post Boardroom Raises $2.2M Seed Round for Governance Management appeared first on DeFi Rate.

Governance Polls: Adjustments to Base Rate, add BAL & YFI as collateral, and more

https://blog.makerdao.com/governance-polls-october-12-2020/

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement adjustments to the Base Rate, add BAL and YFI as collateral, and more.

Poll: Base Rate Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -4% to 4%.

Stability Fees are calculated from the Base Rate and Risk Premiums using the formula Stability Fee = max(Base Rate + Risk Premium, 0%)Please note that a negative Base Rate does NOT imply negative Stability Fees.

Details on how the Base Rate parameter was introduced, and its impact on the Stability Fee parameters for each collateral asset can be found in the following threads on the MakerDAO forum.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, October 12 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, October 16 at 16:00 UTC.

Review

The Base Rate is usually not discussed explicitly on a weekly basis as this poll is a regular occurrence. Please review the governance forum to see if there has been any discussion on the vote this week to inform your position before voting.

Next Steps

If the winning result of this poll differs from the current Base Rate parameter value in the Maker Protocol then this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Add BAL as a Collateral Type

The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding BAL (Balancer) as a collateral type in the Maker Protocol.

The proposed initial system parameters for BAL are:

  • Stability Fee: 5%
  • Liquidation Ratio: 175%
  • Debt Ceiling:4 million
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 100 DAI

This Governance Poll (FAQ) will be active for 3 days beginning on Monday, October 12 at 16:00 UTC.

Review

Please review the following forum threads containing information about BAL (Balancer) to inform your position before voting.

Next Steps

If this proposal passes, BAL (Balancer) will be included in a future executive vote as the Smart Contracts domain team’s schedule allows. It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If this proposal fails to pass, BAL (Balancer) will not be added to the Maker Protocol at this time.

Poll: Add YFI as a Collateral Type

The MakerDAO governance facilitator has placed a Governance Poll into the voting system on behalf of the MakerDAO mandated actors. This poll allows the MakerDAO governance community to signal their support or opposition to adding YFI (yearn.finance) as a collateral type in the Maker Protocol.

The proposed initial system parameters for YFI are:

  • Stability Fee: 4%
  • Liquidation Ratio: 175%
  • Debt Ceiling:7 million
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 100 DAI

This Governance Poll (FAQ) will be active for 3 days beginning on Monday, October 12 at 16:00 UTC.

Review

Please review the following forum threads containing information about YFI (yearn.finance) to inform your position before voting.

Next Steps

If this proposal passes, YFI (yearn.finance) will be included in a future executive vote as the Smart Contracts domain team’s schedule allows. It is expected that this executive vote will take place within 30 days of this poll passing, absent external factors.

If this proposal fails to pass, YFI (yearn.finance) will not be added to the Maker Protocol at this time.

Inclusion Poll for Real World Assets – Off-Chain Asset Backed Lender (MIP21)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Real World Assets – Off-Chain Asset Backed Lender) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Target Price Adjustment Module (Vox) (MIP20)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Target Price Adjustment Module (Vox)) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Centrifuge Direct Liquidation Module (MIP22)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Centrifuge Direct Liquidation Module) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Declaration of Intent – Off-Chain Asset Backed Lender to onboard Real World Assets (MIP13c3-SP4)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Declaration of Intent – Off-Chain Asset Backed Lender to onboard Real World Assets) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Protocol DAI Transfer (MIP14)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Protocol DAI Transfer) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Domain Structure and Roles (MIP23)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Domain Structure and Roles) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Poll: Rates V2 Poll – October 12, 2020

The MakerDAO Governance Facilitator has placed a governance poll into the voting system on behalf of the Maker Governance community which gives Maker Governance the chance to signal their support or opposition for the implementation of the Rates V2 plan.

This non-standard weekly Governance Poll (FAQ) will be active for 3 days beginning on Monday, October 12 at 16:00 UTC.

Review

Please refer to the Signal Request for a detailed outline of the proposal.

Plan:

  • Scrap the current Stability Fee formula involving the Base Rate. The Base Rate will no longer be voted on after this proposal passes, and a MIP18 vote will be added to deprecate it formally.
  • Formation of the Rates Working Group. A somewhat loosely defined group consisting of Domain Team Facilitators and community members. Initial members being @hexonaut, @Primoz, @LongForWisdom, @monet-supply, @SebVentures and @Akiva.
  • Introduction of the Competitive Rate: A rate which is based on the competitive landscape. For example if our competition is offering borrowing at 5% for a particular asset, we may decide to offer that same asset for 4%.
  • The Rates Working Group will keep track of governance directives, risk premiums and competitive rates to produce a set of stability fees for each vault type. Mostly this will involve setting the rates by competitive analysis coming from risk.
  • The Risk Team will start producing Risk Premium / Competitive Rates on a monthly basis which get handed off to the Rates Working Group who will propose the Stability Fee rate changes.
  • Dai Savings Rate will remain at 0% until governance signals otherwise.
  • Development of a more formal MIP as this process is smoothed out.

Next Steps

If this proposal passes then:

  • The plan described above will be implemented.
  • There will be no base rate votes starting the week of October 19th.
  • The Risk team will produce numbers starting week of October 19th.
  • The Rates group will make their first proposal in the forums starting the week of October 19th.
  • The Rates group will create a governance poll for October 26th which, pending success, will go into the Friday executive.

If this proposal fails to pass then:

  • The status quo will remain.
  • The Rates group will work to produce an alternative proposal based on feedback.

Inclusion Poll for Declaration of Intent – Strategic reserves fund (MIP13c3-SP3)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Declaration of Intent – Strategic reserves fund) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.

Inclusion Poll for Declaration of Intent – Maker to work on onboarding Centrifuge Collateral (MIP13c3-SP5)

The Governance Facilitators have placed an inclusion poll into the voting system which asks whether the proposal (Declaration of Intent – Maker to work on onboarding Centrifuge Collateral) should be included in the Monthly Governance Poll.

If the Yes votes in this inclusion poll are higher than the combination of No votes plus the Default Inclusion Threshold when the poll ends, the proposal should be included in the Monthly Governance Poll. Note that the Default Inclusion Threshold is set to 3000 MKR. In summary, if Yes votes > (No votes + Default Inclusion Threshold) = inclusion in the Governance Poll.

Review

Please review the discussion thread to inform your position on this proposal before voting. It was also mentioned and possibly discussed on the Governance Call on Thursday, October 8, 2020.

Next Steps

If the Inclusion poll passes, the Governance Facilitator(s) will confirm the inclusion of this proposal within the next Monthly Governance Poll on the Governance and Risk call on Thursday, October 15, 2020. The Monthly Governance Poll occurs in week 3 of the Governance Cycle.


The post Governance Polls: Adjustments to Base Rate, add BAL & YFI as collateral, and more appeared first on Maker Blog.

Maker Governance Review: September 2020

https://blog.makerdao.com/maker-governance-review-september-2020/

The Maker Governance Review provides a monthly recap of all Governance activity, from Governance blog posts and polling/voting history to Governance Cycle progress. Each review is written to keep the Maker community informed of Governance developments.

Top Governance News

September saw a number of notable developments, with the Governance community voting to onboard several new collateral assets:

These and other Executive Votes raised the Dai Debt Ceiling to a record 1.4+ billion, as the total amount of Dai in existence topped 918 million toward the end of the Governance Cycle (September 26), before falling back below 900 million. 

September’s Governance Polls and Executive Votes

Governance Cycle Updates

Key Outcomes of the Fifth Governance Cycle

The fifth Governance Cycle, which began on September 7 and ended on October 2, included several significant developments for the Maker Protocol and MakerDAO as a whole.

Maker Improvement Proposals (MIPs)

Seven proposals were bundled into the monthly MIPs Executive Vote:

The monthly MIPs Executive Vote was ratified on September 30. MakerDAO now has a Risk Domain Team and a Smart Contract Domain Team!

MIPs in Progress

Nine proposals (including subproposals), listed below, are currently in the Request for Comments (RFC) phase. This means it is now time for the Maker community to provide feedback on each or request changes from the Proposal Authors. 

MIPs

Subproposals

Eight proposals (including subproposals) are now in the Formal Submission Stage, meaning they have completed the RFC phase and are proposed to enter the Governance Cycle:

MIPs

Subproposals

Additionally, there are three new discussions at the pre-MIP stage:

Collateral Onboarding Community Greenlight Polls 

Community Greenlight Polls are Governance polls that are specific to gauging community sentiment for collateral onboarding. Specifically, Greenlight Polls allow MKR token holders to inform the Domain Teams (Risk, Smart Contracts, and Oracles) of their preferences for collateral types that have been proposed through Collateral Onboarding Applications. These polls run for a period of two weeks, starting the third week of the Governance Cycle. 

September’s Collateral Onboarding Community Polls ended on October 5, with the following results: 

A total of 15 collateral types were considered. Ten of these were greenlit by the community, with another five deferred:

What’s Ahead?

The sixth Governance Cycle began on October 5, signaling the start of the Formal Submission period for new MIPs, Subproposals, and Collateral Applications. The formal submission period ended on October 7. Proposals will be approved or denied by Governance Facilitators on the weekly (Thursday) Governance call. If approved, proposals will enter the Governance Cycle in week two of the August Cycle through Inclusion polls on October 12. 

Keep an eye out for the Weekly MIPs Update, typically posted in the Maker Forum on Sundays or Mondays. The update summarizes the most recent events in the world of MIPs, the previous week’s activity, what to expect from the current week, and what’s on the agenda for the next week. It also covers updates with respect to Governance polls and votes, collateral onboarding, and rate adjustments.

Resources

To stay current on Governance, risk, and community issues, bookmark the MakerDAO Public Events Calendar. Newcomers to Maker might want to review our series of posts on the MakerDAO Governance Risk Framework.

Also, remember to review the Maker Improvement Proposals category in the Maker Forum and visit the #mips rocket.chat channel to discuss topics related to MIPs, the Self-Sustaining MakerDAO Initiative, and long-run Governance. 

To learn more about the Governance activities that occur during the Monthly Governance Cycle, see MIP3 for a week-by-week breakdown. 

For the most current MIP-related activity, see the official MIPs Github page.

About Maker Improvement Proposals

MIPs support the organic growth that further expands MakerDAO’s self-sustainability by providing the Maker community and all stakeholders with a standard approach to proposing improvements, specifications, and process and state changes to the Maker Protocol and MakerDAO. 

The post Maker Governance Review: September 2020 appeared first on Maker Blog.

Aragon and Balancer Develop a Zero-Cost DAO Voting System

https://cryptobriefing.com/aragon-balancer-develop-zero-cost-dao-voting-system/

Aragon and Balancer Labs are collaborating to launch Snapshot, an off-chain voting platform. Through the implementation of Aragon Agreements and Aragon Court, Snapshot will enable DAOs to take their off-chain voting and record it on the Ethereum blockchain. 

Aragon Brings Lowers Cost of Governance

Before this partnership, DAO off-chain voting relied on multisig wallet holders to uphold the voters’ will. Internally, this process is called optimistic execution.

Once the latest update passes, Snapshot will enable DAOs to vote for free and pay just one time to get their decisions executed. 

Past reliance on off-chain pooling and delegated execution was a governance vulnerability and an unnecessary expense and legal liability. Multisig wallet owners could ignore their community’s desires or be legally accountable for implementing their decisions.

If the community decided to invest in a marketing campaign to promote the sale of more ANT tokens, for example, the SEC might hold the multisig operators accountable for selling securities.

Using Snapshot’s latest feature, Aragon-based DAOs can take advantage of free off-chain governance without losing their decentralized element.

Non-Aragon DAOs leverage the xDAI STAKE system to take care of governance, while execution happens on Ethereum. The benefit of sidechain systems is that DAO members avoid expensive fees for each vote. Instead, only one member needs to push the decision on-chain and get it executed.

Once the vote is complete, the proposal can be pushed on-chain to an Aragon timelock app called Disputable Delay.

During this delay, any member can create a dispute if they disagree with the proposal. Disputes are handled by the Aragon Court, which consists of three nonpartisan judges who have clear evidence and collateral on the line.

“This new approach to DAO governance will address the high costs and congestion associated with the current system. Snapshot fits perfectly into Aragon’s vision in creating the best-decentralized infrastructure for DAOs to flourish,” said Luis Cuende, Founder and Executive Director of Aragon Association.

Governance Polls: Adjustments to Base Rate and Collateral Onboarding, and more

https://blog.makerdao.com/governance-polls-october-5-2020/

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement adjustments to the Base Rate and Collateral Onboarding, and adding an ETH-B Collateral Type.

Poll: Base Rate Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -4% to 4%.

Stability Fees are calculated from the Base Rate and Risk Premiums using the formula Stability Fee = max(Base Rate + Risk Premium, 0%)Please note that a negative Base Rate does NOT imply negative Stability Fees.

Details on how the Base Rate parameter was introduced, and its impact on the Stability Fee parameters for each collateral asset can be found in the following threads on the MakerDAO forum.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, October 5 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, October 9 at 16:00 UTC.

Review

The Base Rate is usually not discussed explicitly on a weekly basis as this poll is a regular occurrence. Please review the governance forum to see if there has been any discussion on the vote this week to inform your position before voting.

Next Steps

If the winning result of this poll differs from the current Base Rate parameter value in the Maker Protocol then this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Take a more Flexible and Transparent Approach to Collateral Onboarding

The Governance Facilitators have placed a governance poll into the voting system on behalf of the rest of the MakerDAO mandated actors. The community can use this poll to express support or opposition to taking a more flexible and transparent approach to collateral onboarding along the lines presented in this signal thread.

The changes to the collateral onboarding process can be summarized as such:

  • Suspend the usage of MIPs 8, 11 and 12 effective immediately. Suspend the parts of MIP 10 directly related to collateral onboarding.
  • Explicitly allow collateral onboarding to be a flexible process that can adjust to the demands of reality.
  • Publish and maintain a single public document (initially a spreadsheet) with all greenlit (and possibly other) collateral types listed and prioritised according to the varying risks and benefits of each.
  • Provide Foundation-funded grants for collateral onboarding to allow the community to take more of a role in this process.

This non-standard weekly Governance Poll (FAQ) will be active for three days beginning on Monday, October 5 at 16:00 UTC.

Review

The signal thread that triggered this poll can be found here along with the results. Please review the discussion there to inform your position before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, the collateral onboarding process will change in line with the points above.

If this poll ends with a ‘No’ majority, the collateral onboarding process will continue to operate as it currently operates.


Resources

The MIPs mentioned in this poll can be found at the following links: MIP8MIP10MIP11, and MIP12.

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

Poll: Add an ETH-B Vault Type

The MakerDAO Governance Facilitator has placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition for an ETH-B Vault Type.

The proposed initial Risk Parameters for ETH-B are:

  • Stability Fee: 6%
  • Debt Ceiling: 20,000,000
  • Liquidation Ratio: 130%
  • Auction Lot Size: 50,000 DAI
  • Minimum Bid Increment: 3%
  • Bid Duration: 6 hours
  • Max Auction Duration: 6 hours
  • Liquidation Penalty: 13%
  • Dust: 100 Dai

This Governance Poll (FAQ) will be active for three days beginning on Monday, October 5 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, October 9, at 16:00 UTC.

Review

The ETH-B Vault Type was voted on in a forum signal request. Please review the thread to inform your position before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this debt ceiling change will become active in the Maker Protocol after the Governance Security Module delay has expired.


Resources

If you are new to voting in the Maker Protocol, please see the voting guide to learn how voting works, and this wallet setup guide to set up your wallet to vote.

Additional information about the Governance process can be found in the Governance section of the MakerDAO community portal.

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

The post Governance Polls: Adjustments to Base Rate and Collateral Onboarding, and more appeared first on Maker Blog.

Controlled by Holders and Effective: Introducing Sögur’s Governance Model

https://medium.com/sogurcurrency/controlled-by-holders-and-effective-introducing-s%C3%B6gurs-governance-model-c8d17f9e3da9?source=rss------cryptocurrency-5

Sögur’s governance combines democractic legitimacy with the effectiveness of the corporation, while utilizing the advantages of…

Continue reading on The Stories Behind Sögur »

MetaFactory Debuts ROBOT Governance Token

https://defirate.com/metafactory-robot/

MetaFactory – a digiphysical creation platform – has released the blueprint for the ROBOT governance token with a retroactive distribution.

We first covered MetaFactory upon the debut of their Genesis Bomber, combining elements of DeFi auctions and scarcity with digiphysical tokenized wearables to offer a unique product blend for web3 natives.

Now, MetaFactory looks to expand on that vision by adding a native token – ROBOT – into the mix to better align stakeholder incentives. Thanks to ROBOT, MetaFactory will now be broken down into three segments:

  • MetaFactory DAO – For all governance decisions
  • MetaFactor LLC – For company operations
  • MetaFactory BotYard – Community multisig for the custody and distribution of ROBOT.

All together, ROBOT is used to govern the growing brand with distribution baked into the platform’s growth. In short, tokens are issued into the supply as more sales are conducted through MetaFactory, with ROBOT being routed to buyers, creators, and community participants relative to their monetary and social contributions.

Citing Placeholder’s Buyback model, excess ROBOT is likely to be recycled for constant liquidity, using Balancer AMMs to continually capitalize the system.

“The revenue from sales will go to the MetaFactory Entity and will be used to pay for recurring expenses and production costs for goods. ROBOT holders can then vote on how the surplus profits should be spent. For example, they could be locked in a Balancer liquidity pool to create a permanent incentive model with continuous issuance while preserving a fixed supply of 420k tokens.”

Here’s a look at how the genesis 420k ROBOT is issues relative to the various sales MetaFactory reaches as a whole.

Outside of the Genesis Bomber, you’ve likely seen MetaFactory’s merch floated around via the YFI hoodie, famously touting the signature tag ‘I Test in Prod’ optimally designed for the YFI logo to be visible on Zoom calls. This close tie between DeFi and physical wearables capturing the latest trend is one that shows strong promise for the community-owned and operated brand platform.

With this new announcement, purchasers of the Genesis Bomber, Wicked Sunday Club or any of MetaFactory’s merch should be on the lookout for ROBOT tokens in their wallet used at purchase in the coming week. There will be no tokensale for ROBOT, and future tokens can only be earned through platform usage.

The launch of ROBOT comes in line with a growing trend of tokenization, with many projects choosing to issue governance power to their most value-added actors in the form of retroactive distributions. Unique to ROBOT is the ability for anyone with more than 500 tokens to receive access to the LLC’s operational expenses, offering a transparent view into the MetaFactory kimono historically kept private by the issue entities.

Overall, the fresh rebrand and launch of ROBOT are a strong signal that MetaFactory aims to stay on the cutting edge of web3 culture, one we’ll be keeping a close eye on here at DeFi Rate.

To stay up with MetaFactory, be sure to follow them on Twitter!

The post MetaFactory Debuts ROBOT Governance Token appeared first on DeFi Rate.

APY Finance Announces Liquidity Mining for APY Governance Tokens

https://defirate.com/apy-finance-liquidity-mining/

APY.Finance – a pooled yield aggregator – has announced a liquidity mining rewards program starting on October 1st at 8PM EST.

Users will be able to deposit three stablecoins – DAI, USDC, and USDT – to begin earning the platform’s unreleased APY governance token.

Launch details

The APY.Finance contract will be available at https://apy.finance at 8 EST (12am UTC) later this evening, with liquidity mining rewards being accrued and vested after the platform’s APY token is officially launched.

APY tokens will provide a governance function for the platform, and will also be distributed via a token-generation event (TGE) at a later date.

The initial liquidity provided to the platform will assist in bootstrapping the platform’s total value locked (TVL), and eventually benefit from economies of scale once yield-farming strategies go live.

How it Works

Upon depositing funds to the contract, users will receive APT tokens (not to be confused with the APY governance token), which provides them with a claim on their share of assets in the pool.

Just like Balancer Pool Tokens (BPT) or Uniswap LP shares (UNI), users can claim back their share of stablecoins from the asset pool by burning their APT tokens via the APY.Finance smart contract.

By holding APT tokens, users will also automatically be mining APY tokens. Once the platform is fully functional, this will entitle them to both yield-farming and liquidity mining returns.

As described by the APY.Finance team, its APT tokens are comparable to Balancer’s BPT tokens, which represent a user’s stake in the Balancer pool.

Likewise, the APY token can be compared to Balancer’s BAL token, which is used for governance on liquidity mining and general protocol upgrades.

Liquidity Mining Details

31.2% of the APY token supply has been allocated to liquidity mining rewards, for a total of 31,200,000 APY tokens. 900,000 of these will be mined within the first month of liquidity mining, good for 0.9% of the total supply.

Rewards will be proportional to the percentage of liquidity provided to the pool over the course of the program. After the TGE, the APY token will be vested on a block-by-block basis over a 6-month period, using the Synthetix vesting contract.

What is APY.Finance?

APY Finance is an automated yield-farming platform which automatically allocated user’s pooled funds to the best risk-adjusted farming strategies in the DeFi ecosystem.

By pooling funds, it aims to save users precious time and gas fees on transactions, allowing anyone to benefit from yield-farming returns – no matter their account value.

Although they’re not yet enabled, APY.Finance’s governance mechanisms will be added at a later date once the system is “battle-tested”.

The platform’s smart contract has been audited by Halborn, who have also recently audited Bancor v2 and PowerTrade.

To stay up with APY Finance, follow them on Twitter!

The post APY Finance Announces Liquidity Mining for APY Governance Tokens appeared first on DeFi Rate.

On Governance, safety and controlled removal of unwanted, centralised power

https://medium.com/fetch-ai/on-governance-safety-and-controlled-removal-of-unwanted-centralised-power-867f8bc8fc9c?source=rss------blockchain-5

Decentralised governance is a vital part of ensuring that power rests with the right people: the users themselves — learn more here.

Continue reading on Fetch.ai »

Ten Theses on Decentralized Network Governance

https://medium.com/@mariolaul/ten-theses-on-decentralized-network-governance-c1a24a9d59c7?source=rss------blockchain-5

Based on my research over the past couple of years, I’ve put together a list of ten theses on decentralized network governance, including…

Continue reading on Medium »

Governance Poll: Base Rate and PAXUSD Debt Ceiling Adjustments

https://blog.makerdao.com/governance-polls-september-28-2020/

The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement adjustments to the Base Rate and PAXUSD Debt Ceiling.

Poll: Base Rate Adjustment

The Governance Facilitators have placed a governance poll into the voting system which presents several possible Base Rate options. Voters are now able to signal their support for a Base Rate within a range of -3.75% to 4.25%.

Stability Fees are calculated from the Base Rate and Risk Premiums using the formula Stability Fee = max(Base Rate + Risk Premium, 0%)Please note that a negative Base Rate does NOT imply negative Stability Fees.

Details on how the Base Rate parameter was introduced, and its impact on the Stability Fee parameters for each collateral asset can be found in the following threads on the MakerDAO forum.

This weekly Governance Poll (FAQ) will be active for three days beginning on Monday, September 28 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on October 2 at 16:00 UTC.

Review

The Base Rate is usually not discussed explicitly on a weekly basis as this poll is a regular occurrence. Please review the governance forum to see if there has been any discussion on the vote this week to inform your position before voting.

Next Steps

If the winning result of this poll differs from the current Base Rate parameter value in the Maker Protocol then this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this rate change will become active in the Maker Protocol after the Governance Security Module delay has expired.

Poll: Adjust the PAXUSD Debt Ceiling

The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Maker Governance Community. The community can use this poll to express support or opposition for a PAXUSD-A Debt Ceiling increase from its current value to 100 million Dai.

The current value of the PAXUSD-A debt ceiling may change before this poll goes live. This value will depend on the outcome of the executive vote taking place on Friday, September 25, 2020.

This Governance Poll (FAQ) will be active for three days beginning on Monday, September 28 at 16:00 UTC, the results of which may inform an Executive Vote which will go live on Friday, October 2, at 16:00 UTC.

Review

The PAXUSD-A Debt Ceiling was voted on in a forum signal request. Please review the thread to inform your position before voting.

Next Steps

If this poll ends with a ‘Yes’ majority, this change will be included in the Executive Vote on the Friday following the conclusion of this poll.

If the Friday executive passes, then this debt ceiling change will become active in the Maker Protocol after the Governance Security Module delay has expired.


Resources

If you are new to voting in the Maker Protocol, please see the voter onboarding guide to learn how to use this dashboard and set up your wallet to vote.

Additional information about the Governance process can be found in the Governance Risk Framework: Governing MakerDAO

To participate in future Governance calls, please join us every Thursday at 16:00 UTC.

To add current and upcoming votes to your calendar, please see the MakerDAO Public Events Calendar.

The post Governance Poll: Base Rate and PAXUSD Debt Ceiling Adjustments appeared first on Maker Blog.

How Decentralised Notifications can Revolutionize On-Chain Governance (Part II)

https://medium.com/ethereum-push-notification-service/how-decentralised-notifications-can-revolutionize-on-chain-governance-part-ii-c33308274fbf?source=rss------blockchain-5

This article is Part 2 of a 2-part series on how EPNS as a service can improve the efficiency of on-chain governance, and hence eventually…

Continue reading on Ethereum Push Notification Service »

Aave Launches Genesis Governance with AIP1 Token Migration

https://defirate.com/aave-aip1/

Aave – the sector leading lending protocol – has launched its first Aave Improvement Proposal to ratify the migration from LEND to AAVE.

This milestone comes as a huge next step for the project, with tokenholders voting to ratify a token migration that implements the Aavenomics changes including staking incentives, yield farming, and a backstop module on top of decentralized governance.

Detailed in the AIP is the implementation of new Safety Incentives, or rewards to be earned from staking AAVE via a Safety Module as a reserve in the event of shortfalls. The proposal suggests 400 AAVE in rewards per day, good for roughly $20k in rewards each day when taking the 100 LEND > 1 AAVE swap into account.

Outside of the 100:1 tokenswap, AIP1 adds a 3M token Aave Reserve to a community governed treasury, good for Safety and Ecosystem Incentives in tandem with a fortitude of other rewards programs to come.

In the event the proposal passes, the Safety Module will be introduced using a bootstrap period with no slashing, making staking completely risk free to early adopters. There is currently no deadline on when LEND would have to migrate, however, those who are the first to stake to the Safety Module stand to earn the largest portion of the first day’s 400 AAVE rewards.

100 unique participants have voted on the proposal in the first 48 hours of launch, with early support signaling the proposal will pass in spades.

What’s unique about Aave governance is that voting is built directly into the application, utilizing a custom dashboard and governance module built directly by the Aave core team.

Lending Governance Thrives

When it comes to DeFi governance, we’re seeing an ongoing trend of token distribution proposals have the highest engagement to date.

With Aave, governance marks the start of new trends like adding new assets, adjusting interest rate models, and adding new money markets in line with core protocol upgrades like the token migration.

If one thing is for sure, Aave has solidified as a crucial foundation of the DeFi ecosystem. The migration to AAVE is set to kick off Aave V2, adding in a suite of gas optimizations that are sure to take the sector-leading protocols to new highs in the coming months.

To stay up with Aave, follow them on Twitter!

 

The post Aave Launches Genesis Governance with AIP1 Token Migration appeared first on DeFi Rate.