GHO Inclusion into E-Modes on Aave V3 Plasma
Vote: Yes
Letting users borrow GHO against PT-sUSDe and PT-USDe collateral in Plasma’s E-Modes is a clean demand driver. The supply cap changes were already handled via Risk Stewards, so this AIP is scoped tightly. Good incremental move for GHO adoption.
Pause AAVE Buybacks
Vote: Yes
With the rsETH incident still open and the DAO’s liability potentially in the tens of thousands of ETH, deploying revenue into buybacks right now is premature. Treasury flexibility has to come first. The 37% abstain rate on Snapshot shows discomfort though, and the DAO should set a concrete reassessment date (June at the latest) so this doesn’t drift indefinitely.
rsETH Incident Funding Update
Vote: Yes
Committing 25,000 ETH to the DeFi United recovery is painful, but the DAO bears responsibility here. The 93% LTV listing of rsETH on Core was a risk management failure that amplified the exploit’s damage. Delegates pushing for binding collateral risk framework reforms as a precondition are right to do so. But blocking the funding entirely while the recovery coalition is active would fracture the coordination effort and cost the protocol more in the long run.
rsETH Incident: Liquidate rsETH Attacker Positions
Vote: Yes
Extraordinary measure, warranted by extraordinary circumstances. The attacker deposited stolen rsETH to borrow WETH, creating $190M+ in bad debt across eight wallets. Temporarily manipulating the oracle to liquidate those positions recovered up to 12,323 WETH from Aave alone. Normal users and Umbrella stakers weren’t impacted.
Orderly Transition and Offboarding Plan for Chaos Labs
Vote: Yes
Structured 30-day transition with LlamaRisk absorbing risk management functions. The Risk Steward multisig rotation (from Chaos Labs/BGD to Aave Labs/LlamaRisk) ensures continuity. Losing three years of institutional knowledge stings, but the offboarding plan itself is responsible.
Winding Down the LEND Migration Contract
Vote: Yes
Five years is plenty. The ~305,000 AAVE sitting unclaimed in the migration contract extends the DAO’s expenditure runway from ~995 to ~1,788 days. That buffer matters given current service provider churn.
Complete Offboarding Plan for Chaos Labs
Vote: Yes
On-chain execution of the orderly transition terms: stream cancellation, final compensation transfer, Risk Steward key rotation, Risk Oracle shutdown. Necessary cleanup. LlamaRisk is now the sole risk provider, which concentrates a lot of responsibility in one team (something the DAO should address separately).
TokenLogic Phase II: Extension
Vote: Yes
The scope expansion is huge (treasury, GHO, tooling, liquidation config, V4 spokes, BD), but so is the vacuum left by BGD and Chaos Labs leaving simultaneously. $2M allowance + $2.5M stream + 5,000 AAVE over 12 months is significant. Their BD track record ($15M Monad incentive commitments, Mantle crossing $1.4B TVL) supports the expanded mandate. The DAO should hold them to clear accountability metrics for the new scope areas.
Offboarding Plan for Chaos Labs Part 3: Cancel Stream 100073
Vote: Yes
Final housekeeping. Cancels streams 100073 and 100015 (misconfigured), transition compensation already paid, multisig rotation complete. No reason to keep these active.
Extend stkAAVE Emissions
Vote: Yes
Cutting emissions from 220 to 150 AAVE/day saves ~$2.3M annually at $90/AAVE. With 25,000 ETH committed to rsETH recovery and buybacks paused, trimming emission spend from ~$7.2M to ~$4.9M is the right call. A 2.75% staking APR is still competitive enough to retain meaningful stake.
CAPO SnapshotRatio Update Across Aave V3
Vote: Yes
Some of these snapshots are 800+ days stale. The worst case is sUSDe on Ethereum with a 52.31% spread between CAPO upper bound and actual exchange rate, which means collateral could be massively overpriced during an inflation attack. LlamaRisk’s refresh of 21 adapters is overdue, especially after the March 2026 CAPO misconfiguration that forced ~$26M in wstETH liquidations.
Establish Aave Rewards Multisig and Initial Incentives Operations Mandate
Vote: Yes
The 3-of-4 multisig (Aave Labs, TokenLogic, LlamaRisk signers) is a pass-through for partner-funded incentive programs. No DAO treasury funds requested. ACI’s objection about holding an exclusive mandate until July 1 raises a procedural question, but ACI has departed and campaigns have start dates that can’t wait.