Aave Delegates' Gas Usage
Aave is a decentralized finance (DeFi) platform that provides lending and borrowing services to cryptocurrency users. The platform is powered by the Ethereum blockchain and has its own governance system that is controlled by AAVE token holders. The Aave protocol is designed to be community-driven, with decision-making power being distributed among token holders through a governance system that allows them to vote on proposed changes and upgrades to the platform's parameters. The governance system is designed to be transparent and open, allowing all users to participate in the decision-making process and provide feedback on proposed changes.
In the Aave governance system, proposals can be submitted by anyone holding AAVE tokens, and these proposals can range from simple changes to technical upgrades to the implementation of new features. Once a proposal is submitted, AAVE token holders can vote on it through the Ethereum mainnet, with each token representing a single vote. The proposals that receive the most votes are then implemented on the platform, subject to the approval of the Aave team. The Aave governance system is an example of how decentralized platforms can be governed democratically, with decision-making power being distributed among the community rather than being centralized in the hands of a few individuals.
In addition to direct voting, AAVE also allows for vote delegation. This means that AAVE token holders can delegate their voting power to another address, typically to a trusted party who has expertise in the DeFi space or a community member who shares similar views. Delegated votes can be changed at any time and do not require the transfer of AAVE tokens.
Delegation can help increase voter turnout and participation in governance, as it allows those who may not have enough AAVE tokens to reach the quorum threshold to still have a voice in the decision-making process. It also allows for a more efficient use of resources, as those with greater knowledge can make informed decisions on behalf of the community, leading to better outcomes. Overall, the ability to delegate votes adds an extra layer of flexibility and accessibility to the AAVE governance model, making it more inclusive and democratic.
- i use ethereum.aave.ez_proposals table to find the proposals data like porposer, and ethereum.aave.ez_votes table contains the voting data like voter and voting transaction. bt joining the votes table with ethereum transaction table by tx_hash, we get the vote transaction data like gas used and tx fee.
- In the Ethereum network, gas is a unit of measurement that represents the computational power required to execute a transaction or smart contract on the Ethereum Virtual Machine (EVM). Gas is used to pay for the computational resources needed to execute a transaction and is measured in units of Gwei, which is a denomination of ether (ETH). When a user creates a transaction or deploys a smart contract on the Ethereum network, they need to specify a gas limit and a gas price. The gas limit determines the maximum amount of gas that can be consumed by the transaction or contract, while the gas price is the amount of Gwei that the user is willing to pay for each unit of gas. The total cost of a transaction is calculated by multiplying the gas limit by the gas price. If the transaction or contract execution requires more gas than the specified gas limit, it will fail and all gas used up to that point will be forfeited. Conversely, if the gas limit is set too high, the excess gas will be refunded to the sender at the end of the transaction.