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Aave Chan’s Founder Proposes Establishing a Deposit Vault: Use Yield to Repay the Aave Shortfall

MeNews
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ME News report, April 24 (UTC+8), Marc Zeller, founder of the Aave ecosystem contribution organization Aave Chan Initiative (ACI), proposed that instead of launching a donation drive, a deposit treasury called "Defi United Eth" should be established. Aave's wETH income would be directed into this treasury, with a yield cap set at 5% APR, while simultaneously issuing a tradable deposit token called "AaveETH" and gradually repaying interest and principal. He stated that users could deposit ETH into the treasury, with the treasury capacity capped at the total shortfall in the worst-case scenario; in his estimation, more than enough funds could have been raised last Saturday. Marc Zeller also said that Aave has ample revenue, and both Aave DAO and Labs hold nine-figure treasury funds. (Source: ODAILY)
AAVE0.83%
ETH4.08%
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