The aim of the acquisition is to assist the DeFi ecosystem and place Aave DAO strategically within the Curve wars, benefiting GHO secondary liquidity. The acquisition is anticipated to be applied inside someday.
The motivation behind the proposal was current occasions associated to the 0x7a16ff8270133f063aab6c9977183d9e72835428 place on Aave V2. The proposal means that the acquired CRV tokens might be mobilized to incentivize GHO liquidity and assist a GHO-specific Gauge.
The proposal obtained a assist charge of 57.81%, indicating a major stage of neighborhood assist for the acquisition. The treasury steadiness and predicted decrease prices for service suppliers for the 2023-2024 funds would permit this strategic acquisition whereas sustaining a conservative stance with DAO treasury holdings.
The proposal suggests utilizing 2M aUSDT from the Aave DAO treasury to amass 5M aCRV tokens from 0x7a16ff8270133f063aab6c9977183d9e72835428.
When it comes to implementation, this AIP initiates a transferFrom() on the aCRV token contract to the Aave Collector, leveraging a earlier approval() from 0x7a16ff8270133f063aab6c9977183d9e72835428 of 5M aCRV tokens to the Aave DAO treasury (collector contract). Then, 2M aUSDT are withdrawn from the collector contract and mobilized to repay a part of 0x7a16ff8270133f063aab6c9977183d9e72835428 USDT debt. In case of lack of approval on aCRV tokens, the proposal will fail.
Wrote within the proposal
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