AAVE DAO Consensus Call For Ethereum POS Fork
AAVE DAO have been asked to join the ARC proposal to call for members’ consensus for Ethereum’s proof-of-stake (PoS) consensus.
The ARC, proposed on August 16, comes in light of Ethereum’s upcoming transition to proof-of-stake. It calls for members to select the Ethereum Mainnet running under PoS consensus as the new “canonical” governance system, while also giving power to an authority to shut down any Aave deployments on any alternative Ethereum forks.
The result will provide a clear picture of where AAVE token owners stand in relation to the impending ETH hard fork.
The proposal will shortly be posted on AAVE’s DAO, which enables holders of AAVE tokens to vote on software advancements and AAVE protocol improvements.
The plan has two key specifications, which are listed on Aave’s governance website. The Aave DAO implemented on Ethereum Mainnet’s PoS consensus will be officially acknowledged by members as the “canonical governance mechanism” of the Aave DAO and Aave marketplaces.
The Community Guardian will also have the power to stop any Aave deployments on any other forks that result from the Ethereum Merge after receiving a signal, which is the second provision.
The results of the governance vote should provide a clear indication of how Aave members feel about the switch from PoW to PoS.
The deployment of Aave V3 on the Ropsten and Goerli testnets during the Merge testing allowed Aave to claim that their code was “totally functional” with Ethereum’s consensus update in the report.
The Ethereum Merge is set to take effect on September 15, according to the latest tentative schedule set by Ethereum Core Developer Tim Beiko.
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