Renew Aave Grants DAO

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.