Aave requested $16.28 million from the Aave DAO to distribute to developers.
The long-term decline in cryptocurrencies has affected every building block in this field. One of the DeFi projects, Aave, asked the DAO for a $16.28 million retroactive reward fee to pay the developers.
Aave Requests Money From DAO
Decentralized financial institutions are trying to heal the wounds of the decline in cryptocurrencies. Aave Companies, behind the largest surviving organization, asked for $16.28 million from the decentralized autonomous organization that manages the protocol. According to one report, this is the first time Aave has asked the DAO for money. The number required for the approval of the plan was provided.
In the vote, the community overwhelmingly voted in favor of the demand for retroactive funding, and community members said Aave Corporations did a tremendous job and needs to be paid for.
As the Aave protocol became what it is today, development-related costs have increased significantly, the proposal said. Also, the report said that creating an innovative, secure and tested version of the protocol like Aave V3 requires experienced developers with a range of skills and their work is highly compensated.
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