Using community funds to vote for UST adoption on L1

Please let us have a discussion about using community funds to acquire governance tokens from AAVE and other vital protocols on L1 chains to vote in favor of UST listings.

The latest proposal by @larry0x for UST listing on AAVE v2 was rejected by 93% of the voting power. With one participant voting against it holding 18.02k of the 19.69k AAVE total ‘NO’ votes alone.
https://snapshot.org/#/aave.eth/proposal/0xecdaaaffd060ca378411e16d738b354a728c13f3f59db3dd252013e99ef6ffa6

Are there any opposing arguments for doing so?

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Yes, it would start a war between the blockchains based on the biggest community pool to manipulate votes on different governance platforms always in favor of the voting “community pool”.

Let the governance with the individual decider :slight_smile:

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Agreed. Let’s do it. AAVE isn’t going away so it’s not a bad hold. It’s really too bad that there’s not liquid options on it so that we could sell call options to lower cost basis and hedge it.

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I’m with Danku on this one. Two wrongs don’t make a right.

Want to encourage our community members to put their own aave in on a vote to try and win? Sure

Using community funds to buy voting power? No

That is an inefficient use of capital and could bite is in the ass. It’s not a good look for Terra either.

In the Aave case, here is the reasoning for why that whale voted no: Add support for Terra USD (UST) - #15 by MarcZeller - Governance - Aave. TL;DR they’d rather wait for Aave V3 to come out and then try to get UST directly on that.