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Aave Devs To Get $16.3M Via Retroactive Funding

There are all kinds of exciting events taking place in the crypto space. Check out the latest reports about Aave developers below.

Aave devs to get $16.3 million

It’s been just revealed that a proposal to reward members of the Aave Companies with $16.28 million in retroactive funding for the development of V3 of the Aave Protocol is almost ready to pass.

Cointelegraph notes that the DAO behind the decentralized finance (DeFi) platform Aave has accepted a proposal to reward members from Aave Companies with $16.28 million in retroactive funding. This whole reward is for their role in the development of Aave Protocol V3.

According to the same notes, voting for the proposal began on September 6, and at the time of writing has already passed 667,000 votes in favor of the funding. This is more than doubling the 320,000 required. The vote is set to end on September 8.

It’s also important to note the fact that the initial proposal, which was first pitched on Aug. 10, the Aave Request for Comment (ARC) sought “retroactive funding” for work in developing the V3 protocol.

Cointelegraph also noted that the $16.28 million “consists of $15 million for work performed by the developers over the course of more than one year and $1.28 million for costs paid to third-party auditors.”

One other issue worth mentioning is that the money will be given to members of the firm behind the popular DeFi protocol, Aave Companies.

We suggest that you check out the complete original article in order to find out more details about this issue.

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