Aave DeFi on-chain voting process
- Aave Protocol Aave
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?
Just about, yes!
- 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;