Aave Founder Proposes Deposit Vault to Cover Shortfall and Stabilize Market Confidence

ChainCatcher report: Marc Zeller, founder of the Aave Chan Initiative (ACI), an organization contributing to the Aave ecosystem, posted that instead of launching a donation campaign, the following approach should be taken: Establish a deposit vault named “DeFi United ETH”; transfer Aave’s wETH revenue into this vault, with an annualized yield cap of 5%; tokenize the vault deposit receipts for trading under the name “AaveETH”; gradually repay the shortfall through interest and principal repayments. He recommends allowing users to deposit funds and setting the vault’s capacity to match the size of the shortfall under worst-case scenarios. Zeller stated that if this approach had been implemented earlier, sufficient funds could have been raised as early as last Saturday. He believes Aave itself generates sufficient revenue, and both Aave DAO and Aave Labs hold hundreds of millions of dollars in reserves, making it possible to resolve the issue and avoid market panic. He added that he will also deposit the majority of his own ETH into this vault.