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Aave DAOAave DAOby0x0f85887581fDa31D652eb12F4a86041b0297c96a0x0f85…c96a

AAVE on Harmony Recovery Plan

Voting ended almost 3 years agoSucceeded

AAVE protocol is to spend all of Harmony’s rOne distributions and 50% of all AAVE treasury profits coming in to buy and replace collateral put in by AAVE users into AAVE on Harmony. (mostly ONE token and any other assets that were not depegged). Once collateral is fully replaced, AAVE is to liquidate bad debt and to turn on withdrawals for lenders. Lenders will now be able to withdraw all of their ONE (and any other assets stuck). After some period of time to allow for withdrawal only (1 month sounds sufficient), AAVE can reactivate full functionality (lending and borrowing), and AAVE on Harmony will be revived.

Off-Chain Vote

Yes this is a good proposal
2.49K AAVE0.6%
No i refuse this proposal
436.88K AAVE99.4%
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Timeline

Mar 19, 2023Proposal created
Mar 19, 2023Proposal vote started
Mar 26, 2023Proposal vote ended
Oct 26, 2023Proposal updated