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?