The founder of MakerDAO proposes to amend the revenue sharing agreement of the Spark protocol to ensure that Aave receives 10% of revenue every quarter

17/08/2023 08:56

Odaily Planet Daily News MakerDAO founder Rune Christensen recently released multiple MIP revision sub-proposals on the forum, suggesting that the Spark Protocol-Aave revenue sharing system be officially determined as a Maker ecosystem protocol, and try to fix its defects so that it conforms to expected behavior and expectations. Under the proposal, Spark Protocol would have to pay 10% of the revenue it generates from operating the protocol’s lending functionality based on the Aave codebase. SparkDAO service providers must manually calculate payments at the end of each quarter and manually pay in DAI from the SparkDAO surplus buffer to smart contracts under the control of Aave governance. Payments must be made within the 2-year revenue share period, calculated from the date this amendment is approved by Maker Governance. If at any point after the launch of the SubDAO token, the Spark Protocol generates less than 1 million DAI per annum for SparkDAO, the accrual of revenue share payments will be suspended and the countdown to the revenue share period will be suspended. When Spark Protocol’s annual revenue exceeds 1 million DAI again, the countdown to revenue share payments and remaining revenue share deadlines will resume. Until the launch of the SubDAO token, Maker Governance is temporarily responsible for paying “virtual revenue shares” on behalf of Spark Protocol. Once the SubDAO token is launched, the virtual revenue share system will no longer be in effect and will be replaced by the standard rules of the Spark Protocol - Aave's revenue share ecosystem protocol.

Bullish

Bearish

More news about aave revenue

Jul 26
Why Is The Aave (AAVE) Price Up?
Bullish
Bearish
Jul 26
Aave Community Weighs Proposal to Distribute Protocol Revenue Among Token Holders
Bullish
Bearish
Jun 20
Aave launches proposal to deploy Aave V3 on ZKsync
Bullish
Bearish
Jun 05
Aave tops $20 billion in deposits amid record revenue and fee switch discussions
Bullish
Bearish
Jun 03
Solv Protocol Integrates Ethena To Launch Revenue Vault For SolvBTC
Bullish
Bearish
Nov 13
Aave Guardian has reopened the Aave V3 market, and Aave V2 on Ethereum is about to resume
Bullish
Bearish
Jul 07
MicroStrategy Chief Revenue Officer Kevin L. Adkisson Steps Down After Nearly Seven Years
Bullish
Bearish
Jul 07
PancakeSwap Q3 Roadmap: V3 Stake Manager, Revenue Sharing Pool, Expanding to More Chains, and More
Bullish
Bearish
May 24
Aave community proposal proposes deploying Aave on Base
Bullish1
Bearish
Mar 08
Aave Deploys Aave V3 on Ethereum Testnet Sepolia
Bullish1
Bearish1

The founder of MakerDAO proposes to amend the revenue sharing agreement of the Spark protocol to ensure that Aave receives 10% of revenue every quarter

More news about aave revenue

More news about aave revenue

Aave backs the proposed Metis deployment

Aave: Understanding the Crypto Lending Platform

Gnox (GNOX), Aave (AAVE) And Cronos (CRO) Could Make Top News During August Bullish Trend

Gnox (GNOX) Likely To Outperform Uniswap (UNI) And Aave (AAVE) After Presale Sell-Out

Uniglo (GLO) Is Primed To Drive Ahead Of Other Top DAOs Like ApeCoin (APE) And Aave (AAVE)

2 Coins To Make Waves In The Cryptocurrency Market: Mushe (XMU) And Aave (AAVE)

Tips to claim tax losses with the US Internal Revenue Service

Brazil's Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Parody Coin (PARO), Aave (AAVE), and Algorand (ALGO): Great Tokens For New Investors In Crypto

Logarithmic Finance (LOG) Is the New Defi Platform To Make Money Compared To The Theta Network (THETA) and Aave (AAVE)