The governance page shows that the Aave community launched a new proposal to introduce user aTOKEN as the voting mechanism Userocracy.
The proposal points out that the problem with the current Aave DAO is that Aave token holders have all power and voting rights, while protocol users do not have any voting rights. It is a plutocracy, with early Aave owners and Aave holders continually increasing their voting rights; but users are the protocol’s most valuable asset.
Aave users do not have any voting rights and their capital is at risk in the protocol, so the following modifications to the DAO are recommended:
- 50% of the voting rights belong to Aave token holders;
- 50% of the voting rights belong to the users, i.e. aTOKEN holders (including debt and collateral).