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Aaveator138
Feb 07, 2023
Expert Q&A
Aave DeFi on-chain voting process
I understand the scheme of on-chain voting correctly:
- A proposal is made with the code (which will be integrated into various smart contracts) in the section https://github.com/aave/aip
- When the code is approved, the on-chain voting procedure begins, which takes place exclusively on the AAVE internal website https://app.aave.com/governance/. Here, all transactions are sent to the on-chain network and therefore gas is charged for each vote. Correctly?
- After the completion of the voting, the "freeze" period begins, when automatic execution still does not occur.
- After the end of the freezing period, the offer is considered accepted and the proposed piece of code is automatically integrated into the smart contract.
Did I understand the point correctly?
- Aave Protocol
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Feb 8 2023, 20:39
Just about, yes!
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1Aaveator138
Feb 14 2023, 11:48- The AIP repo is only used to create the proposal payload. Proposals are submitted on-chain by calling create on the AaveGovernanceV2 contract from a wallet with enough proposition power
- Voting is not exclusive to the Aave interface, any website can read from and write to the Aave governance contract
- and 4. This diagram explains the exact steps that occur between voting and execution;
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Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers.
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