Aave offers rewards to its 'recognized delegates' in the hopes of...
. According to the proposal, the decision to refund recognized delegates for all gas fees spent was made necessary by the continuous rise in Ethereum gas fees, which has, in turn, led to a spike in the cost of on-chain governance for these delegates.According to Aave, “rebating delegates for their participation” offers a number of benefits.
While the proposal did not mention where the rebate fees were obtained, the money to cover these costs most likely came from the Aave protocol’s revenue or treasury. Aave generates revenue through various mechanisms, such as interest fees on loans, flash loan fees, and other protocol fees. Therefore, a decline in network fees will often cascade into a drop in protocol revenue. Last year the protocol generated a cumulative fee of $12 million. However, according to data fromAs a result, Aave’s cumulative revenue suffered a decline during the same period. According to the same data provider, revenue on Aave logged a 71% decline during the same period.
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