Committee idea - Liquidity Managers (for managing the FRENS %s of liquidity pairs)

As many LPs know, the FRENS emission rate for GHST-QUICK and GHST-USDC does not automatically get updated when the price of the underlying tokens changes. For simplicity and security, we decided in our contract architecture not to include a price oracle, which is necessary for an “auto-adjusting” rate. Thus, the frens rate must be adjusted manually, which has a not-insignificant overhead for the devs.

There has been talk of setting up committees for managing certain parts of Aavegotchi, and I believe this could be an interesting candidate for such a committee. Right now we only have two pairs incentivized by FRENS, but this could change in the future.

The “committee” could be a multisig of at least nine (maybe up to fifteen) members with strong reputation in the community and high Gotchi dependability counters. At its core, this Liquidity Committee would monitor and adjust FRENS rates to keep in check with the pre-determined rate, by performing contract calls to the GHST Staking contracts only available to a new “rateManager” role created for the committee.

The Committee could also be in charge of monitoring FRENS inflation, and possibly even entertaining proposals from potential partners (the recent Honeyswap partnership as an example.)

Outsourcing this task to the community would be a great start in the further decentralization of Aavegotchi, with the vision of moving towards AavegotchiDAO V2.

What say ye, AavegotchiDAO? Is this a good idea? If so, how should committee members be selected?

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I follow another project that has a council model, and I think their selection process could be applied to this type of role. Basically they started up a form for nominations. Candidates had to meet a specific requirement to be eligible. Then once all nominations were in (and non-eligible candidates removed), there was a snapshot vote. Top X people were then on the council (they did quadratic weighting on the vote though to help give all users fair power).

Not sure if that is the best idea, but seemed to have worked.

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I think this is a nice idea and great way to leverage the active community. As far as selection process, I’d say keep it simple. Interested parties sign up and then the community votes. In an instance such as this I’d say one vote per person rather than GHST weighted voting.

You could create a simple set of criteria such as active in discord, owns gotchi/GHST etc.

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Seems like a good start for a committee that could eventually manage the treasury as well. I like both previous replies by @notorious_BTC and @UnfitStone , so why not both? We could create a discord channel where people could nominate respected members of the community that they’d like to see in the committee, but also present their own candidacy if they so wish. Then we filter them with requirements or whatever we think is important, and make a final list of candidates to vote for.

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Yeah I think using the Discord is the easiest way to get a good selection. Might also have to do an onchain vote to confirm the committee since it can have a significant impact.

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Who wants to take lead on this? Gather the Council!

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I love this idea. What do I have to do to be treasurer of the council. Would love to coordinate brand partnerships as well as Aavegotchi community interests to help keeps incentives motivating and balanced for market participants. Would be awesome to be able to improve gotchi ecosystem by collaborating with frens utility. Looking forward to hearing information about how to get more involved.

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Glad to hear it fren! I think there will be some movement on this soon. Stay tuned here or in the #dao-discussion channel in discord for updates.

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I like it. And I’m also of the opinion that creating a self sufficient committee is long over due.
Cocoon Committee Proposal; Part One - Ideas - AavegotchiDAO

When I moved to spearhead a committee proposal over a month ago I was looking to spark the conversation on not only self sufficient committees, but self sufficient committee building. I still feel that the conversation and initiatives should start there, with the creation of a Builder Committee that can help speed things like this along.

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Agree I think this would be a great way to encourage more decentralised governance in the Aavegotchi Realm. I’m happy to help and will nominate myself as an enthusiastic supporter of all things Aavegotchi.

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SigProp is live here: Snapshot

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