IIP-129: Metagov Delegation Request - Delegate Aave to EOA for DPI Borrow Enable and DPI on ARC AIPs

iip: 129
title: Metagov Delegation Request: Delegate Aave to EOA for DPI Borrow Enable and DPI on ARC AIPs
status: Proposed
author: @oneski22 @Mringz @Matthew_Graham @Metfanmike
created: 27-01-2022

Simple Summary

This IIP requests authorization for Index Coop to delegate all of IndexCoop’s AAVE voting rights to an External Owned Account (EOA). This is intended to be for the sole purpose of submitting 3 AIPs and for voting said AIPs. The first AIP will re-enable the borrowing of DPI on Aave V2, as well as several other Aave Treasury maintenance actions. The second AIP will propose the listing of DPI on the Aave ARC Market, to bolster the institutional adoption of DPI. The third AIP will propose changes to the AVAX Aave Market parameters enabling us to launch AVAX2x-FLI.


All Aave voting rights are to be delegated to an EOA controlled by the IndexCoop development team to submit the 3 AIPs.

By delegating to an EOA address, the IndexCoop Dev Team will be able to submit the 3 AIPs, the first after review by the Aave DAO, IndexCoop and Llama Community teams, the second after review by IndexCoop, Fireblocks and Aave DAO, and the third after review by IndeCoop, Aave DAO and Ava Labs. The submission must be performed from an EOA address and can not be performed from a multisig address. IndexCoop engineering will review any AIP an additional time prior to submission, as per convention.

After the voting process for these AIPs has been completed the delegation power will revert back to its current configuration which is the standard multi-sig wallet for all IndexCoop assets.


Even more important than the ability to vote, is the ability to put forward proposals. Proposals can only be put forward by an EOA address. Thus the need for the IndexCoop’s Aave holding proposal power to be delegated to an EOA address.

In order to submit an AIP, a minimum number of votes is needed to meet the proposal power requirement for creating and sustaining a proposal. To propose on Aave, we need 80,000 votes to meet the proposal power requirement.

IndexCoop holds roughly 100,000 AAVE votes.


IndexCoop multi-sig wallet delegates the Aave voting power to an ethereum address controlled by IndexCoop Dev Team which is then to be used for submitting the AIPs.



  • Delegate Aave voting power from the IndexCoop Multisig address to IndexCoop Dev Team’s EOA.


  • Do not delegate Aave voting power from the IndexCoop Multisig address to IndexCoop Dev Team’s EOA.


Copyright and related rights waived via CC0.


This seems like a no-brainer use of our own metagovernance capabilities. Kind of exciting and I look forward to reading the two AIPs. Is there a linked commercialization step required from Growth > BD to talk up the new capabilities after the vote?


updated to add in authority for AVAX param update AIP

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also calling for a snapshot vote when able @Mringz @sixtykeys @mel.eth

cc: @Matthew_Graham @Metfanmike


Great work building out our use cases. :handshake:

I’m trying to see if there is interest from the ARC whitelister for us to do some educational efforts specifically for ARC participants. If an institution knows that they can get diversified exposure to DeFi in a single token and use that as collateral in ARC, a plethora of strategies open up (market neutral, long/short, leverage, yield generation, etc). But that requires education to max awareness and ultimate adoption.

Bottom line: yes, this is in the works, and we’d also get the word out heavily on blog/Twitter/newsletter/etc.

Hey @oneski22 , an IIP number (129) has been assigned, and a snapshot vote has been queued for 1st February 2022 1800UTC.
Snapshot here


The following POAP has been created:


If you vote and it is not yet available, please come again within two weeks and you still can get it.


Confirming that this IIP has passed with 135K INDEX (100%) voting FOR :white_check_mark:
Snapshot here

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