IIP-124 - Delegate Aave to EOA Address for Cross DAO Polygon Aave Market Changes

Status: Proposed Author(s): @Matthew_Graham @oneski22 Created: 16th January 2022 Discussions to: https://gov.indexcoop.com/t/iip-124-delegate-aave-to-eoa-address-for-cross-dao-polygon-aave-market-changes/3694 Quorum: 109,069 INDEX

Note: In light of time constraints the Index Council has voted unanimously to waive the waiting period for this proposal. Proposals usually have to spend a minumum of 48 hours in discussion on the forum.

Simple Summary

This IIP requests authorization for Index Coop to delegate all of IndexCoop's AAVE voting rights to an External Owned Account (EOA). This is intended to be for the sole purpose of submitting an AIP and for voting said AIP. This AIP will list several new assets as collateral on the Aave Polygon Market, including DPI. Additionally it will change several risk parameters, namely MATIC, enabling us to safely launch MATIC2x-FLI.

Abstract

All Aave voting rights are to be delegated to the following address:

0xC3c2e1Cf099Bc6e1fA94ce358562BCbD5cc59FE5

By delegating to an EOA address, coderdan.eth, an engineer with Aavegotchi who has worked on this AIP, will be able to submit an Aave DAO, IndexCoop and Aavegotchi reviewed AIP. The submission must be performed from an EOA address and can not be performed from a multisig address. IndexCoop engineering will review the AIP an additional time prior to delegation and submission.

Upon voting the delegation power will revert back to its current configuration which is the standard multi-sig wallet for all IndexCoop assets.

Motivation

Even more important than the ability to vote, is the ability to put forward proposals. Proposals can only be put forward by an EOA address. Thus the need for the IndexCoop's Aave holding proposal power to be delegated to an EOA address.

In order to submit an AIP, a minimum number of votes is needed to meet the proposal power requirement for creating and sustaining a proposal. To propose on Aave, we need 80,000 votes to meet the proposal power requirement.

As of block 14020108 (Jan-17-2022 01:30:28 AM UTC), IndexCoop holds roughly 105,000 AAVE votes.

Specification

IndexCoop multi-sig wallet delegates the Aave voting power to an ethereum address: 0xC3c2e1Cf099Bc6e1fA94ce358562BCbD5cc59FE5 which is then to be used for submitting the AIP proposal enabling a number of changes to the Aave Polygon Market including adding DPI, and adjusting the MATC risk parameter change to enable MATC2x-FLI to be launched.

Vote

FOR

• Delegate Aave voting power from the IndexCoop Multisig address to 0xC3c2e1Cf099Bc6e1fA94ce358562BCbD5cc59FE5.

AGAINST

• Do not delegate Aave voting power from the IndexCoop Multisig address to 0xC3c2e1Cf099Bc6e1fA94ce358562BCbD5cc59FE5.

Copyright

Copyright and related rights waived via CC0.