logo
0
avatar
Aaveator 5C2C49BE-0B07-4C3F-8D36-B1FB2C7ACC0C Created with sketchtool. 138 Stranger 3 Feb 7 2023 12:49

Aave DeFi on-chain voting process

Expert

I understand the scheme of on-chain voting correctly:

  1. A proposal is made with the code (which will be integrated into various smart contracts) in the section https://github.com/aave/aip
  2. 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?
  3. After the completion of the voting, the "freeze" period begins, when automatic execution still does not occur.
  4. 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?

Answers 1

0
avatar
undefined 5C2C49BE-0B07-4C3F-8D36-B1FB2C7ACC0C Created with sketchtool. 0 Stranger 0 Feb 14 2023 11:48

  1. 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
  2. Voting is not exclusive to the Aave interface, any website can read from and write to the Aave governance contract
  3. and 4. This diagram explains the exact steps that occur between voting and execution;