I believe you all know that Idle.finance currently invests in Compound, dYdX and Aave platforms. In this proposal I want to talk about Aave, because on October 3, 2020 Aave brought the new version of its platform, V2, to the mainnet.
You can read the news about V2 in this post by Stani Kulechov:
- The Aave Protocol V2. It’s the moment we’ve all been waiting… | by Stani Kulechov | Aave Blog | Dec, 2020 | Medium
At this link you can find the V2 Protocol Whitepaper:
I also remember that Aave plans to incentivize Liquidity Providers by distributing its $AAVE token, how we can read in is Aavenomic document.
This means that Idle will then be able to farming Aave’s governance token too.
As the Aave V2 will gradually become the main platform, I ask the governance to discuss whether it is appropriate to start thinking about moving investments from the current V1 to the new V2.
Currently the market size of the two platforms is:
- Aave V1 Current market size $ 2,114,389,841.31
- Aave V2 Current market size $ 183,827,473.16
As you can see, at the time of writing, the market size of the V1 is still significantly higher than the V2.
I propose to keep the market size under control and in the meantime decide whether to switch to V2 and, if so, how it can happen. If we need to create a new smart contracts or just change some parameters of the current ones.