Cryptocurrency

Aave developers to get $16.8M in retroactive funding

Zegex

Aave (AAVE) V3 developer Aave Companies will receive $16.28 million in retrospective funding from the DeFi protocol’s Decentralized Autonomous Organization (DAO).

Retroactive funding proposal

The developer suggestion We requested funds from the DAO on August 10th to cover the payment for the development work done in the last 12 months.

The proposal calls for $15 million in retroactive developer work over the past year and $1.28 million in third-party auditors including ABDK, OpenZeppelin, PeckShield, SigmaPrime, and Trail of Bits.

Over 669,000 at time of writing vote The proposal was voted in favor of without objection. Voting ends at 19:00 UTC on September 8th.

Once approved, payments will be made in Aave tokens and stablecoins. The proposal included a breakdown of the reward model.

Meanwhile, payment support is coming, even as Aave DAO’s assets are dwindling. Aave DAO’s liquid assets have fallen from his over $800 million in April to his $378 million, according to Nansen data.

What is retroactive funding?

Ethereum (ETH) co-founder Vitalik Buterin and Layer 2 network Optimism piece Moreover.

The funding model motivates developers to work on projects knowing that they will be paid based on the value of their work.

Lido DAO Approves 10 Million Token Sale

Lido (LDO) DAO approved The sale of 10 million Lido tokens to VC firm Dragonfly Capital will cover costs incurred over two years.

according to bloomberg newsthe DeFi protocol has made a decision to address the impact of the recent market crash.

Jacob Blish, head of business development at Lido Finance, told Newswire that the project did not immediately anticipate the impact of the market crash. He said:

鈥淕oing into mid-to-late May, we really started to realize how serious this was going to be.Terra and the CeFi protocol started to get worse with inflationary escape routes, wars abroad and whatever else was going on. rice field.”

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