Skyward: Aave New Service to Simplify DAO Proposals

• Skyward by the Aave-Chan Initiative simplifies the Aave DAO proposal process.
• Skyward offers free, comprehensive support for Aave DAO proposal submissions.

Aave announced the debut of a new service dubbed “Skyward” by the Aave-Chan Initiative (ACI). Skyward aims to speed up the Aave DAO proposal process from inception to final voting because it draws inspiration from the spirit of aviation and the desire to soar to new heights.

This new effort exemplifies the ambition and creativity that Aave has constantly strived for in the decentralized finance (DeFi) area.

The Aave DAO encourages active discussions so feel free to drop into the governance forum with a question or a proposal or even ask Skyward, a free service from @aavechan, for help on your proposal.https://t.co/J7rbereDSHhttps://t.co/WZMgayxIVC

— Aave Labs (@aave) July 31, 2024

Skyward: Simplifying the Aave DAO Proposal Process for Greater Community Engagement

Skyward is a free service designed to help Aave DAO members navigate the proposal process. If a member has published a standard TEMP CHECK and successfully passed the TEMP check snapshot, they can seek ACI’s aid in writing the ARFC.

Also, they can publish it as a snapshot and, if successful, write the proposal code and publish the AIP for voting. This complete support system is intended to eliminate barriers and streamline the proposal process.

Skyward’s primary goal is to make the proposal process as smooth as possible by giving guidance and technical assistance at all stages. By making the proposal process more accessible, Aave intends to attract more community members to participate in governance, resulting in a more lively and varied DAO.

The initiative emphasizes the value of community interaction and seeks to improve the inclusivity of decision-making within Aave’s ecosystem.

At launch, Skyward will support a variety of AIPs, including asset onboarding, risk parameter changes, interest rate strategy changes, supply and borrow cap changes, Emode activation, and asset offboarding.

These areas are critical for the ongoing development and fine-tuning of the Aave protocol, ensuring that it stays adaptive and responsive to its users’ needs.

Ensuring Fair Voting While Empowering Community Participation 

Skyward is absolutely free of charge and open to anyone. The ACI will cover all proposal projects, regardless of their origin. However, it is vital to note that the ACI reserves the authority to vote on these ideas via their delegate platform.

Using Skyward does not ensure a YAE vote on ideas. This transparency ensures that the voting process remains fair while also assisting proposal creators.

The effort supports Aave’s conviction in the power of decentralized governance. By making the proposal process more accessible, Aave hopes to empower its community members and enable them to participate more effectively in the platform’s development. This, in turn, strengthens and energizes the Aave community as a whole.

Previously, we highlighted that Marc Zeller, the founder of AAVE Labs, had submitted a fresh concept that sparked widespread interest.

This proposal seeks to provide a “fee switch” and “buyback tokens” on the open market. Such strategic measures demonstrate Aave’s proactive approach to improving its protocol and providing value to its stakeholders.

Meanwhile, Aave’s native token, AAVE, is trading at about $116.22, up 10.18% over the last 24 hours.

This astonishing success has propelled AAVE to the top of the list of top gainers, despite the fact that the majority of cryptocurrencies are losing value. This strong momentum reflects the market’s confidence in Aave’s ongoing innovation and strategic ambitions.

Previously, CNF reported that a popular analyst anticipated that AAVE would hit $500 as a result of the recent bullish trend. Such projections highlight the potential for enormous development within Aave’s ecosystem, owing to major protocol upgrades and an increasingly active and engaged community.