Anode Delegate Platform

Delegate Platforms
101

Add Fluid Protocol to flashBorrowers
Vote: Yes
Rationale: Whitelisting Fluid Protocol for flash borrowing expands Aave’s integration ecosystem and enables advanced DeFi composability. This integration supports capital-efficient strategies while maintaining strict security requirements through the established flashBorrower whitelist mechanism.

[ARFC] Deploy Aave v3 on Plasma
Vote: Yes
Rationale: Deploying on Plasma extends Aave’s multi-chain presence to an emerging ecosystem with strong institutional backing. This strategic expansion captures new liquidity sources while leveraging Plasma’s high-throughput infrastructure for enhanced user experience and reduced transaction costs.

[TEMP CHECK] Onboard USDG to Aave V3 Core Instance
Vote: Yes
Rationale: Adding USDG diversifies stablecoin offerings with a regulated, fiat-backed option that appeals to compliance-conscious users. This integration strengthens Aave’s position in bridging traditional finance with DeFi while expanding stable asset choices for risk-averse participants.

Onboard USDe November expiry PT tokens on Aave V3 Core Instance
Vote: Yes
Rationale: November expiry USDe PT tokens continue Aave’s support for fixed-rate instruments through Pendle’s ecosystem. This addition provides users with predictable yield opportunities while deepening liquidity for term-structured products within the protocol.

[ARFC] Aave v2 Deprecation - Update
Vote: Yes
Rationale: Progressing v2 deprecation consolidates resources on superior v3 infrastructure while maintaining user safety through gradual transition. This update ensures clear communication and migration pathways, reducing operational complexity while focusing development on active deployments.

[ARFC] Add Fluid Protocol to flashBorrowers
Vote: Yes
Rationale: Formally adding Fluid Protocol to the flashBorrower whitelist enables innovative lending strategies and arbitrage opportunities. This integration demonstrates Aave’s commitment to fostering DeFi innovation while maintaining appropriate access controls for flash loan functionality.

[ARFC] Aave v2 deprecation (tech) - next phase
Vote: Yes
Rationale: Implementing technical deprecation steps ensures systematic wind-down of v2 operations without disrupting user positions. This phased approach prioritizes security and user protection while efficiently transitioning resources to modern v3 infrastructure.

Multi eMode Update and Creation - rsETH, ezETH, wstETH and weETH
Vote: Yes
Rationale: Creating specialized eModes for correlated ETH derivatives optimizes capital efficiency for liquid staking strategies. These configurations recognize the growing LST ecosystem while maintaining appropriate risk parameters for highly correlated asset pairs.

Onboard sUSDe November expiry PT tokens on Aave V3 Core Instance
Vote: Yes
Rationale: Adding November sUSDe PT tokens expands fixed-income opportunities with Ethena’s yield-bearing stablecoin infrastructure. This integration caters to sophisticated users seeking predictable returns while diversifying Aave’s time-based instrument offerings.

[ARFC] Launch GHO on Plasma & Set ACI as Emissions Manager for Rewards
Vote: Yes
Rationale: Launching GHO on Plasma expands the stablecoin’s reach while leveraging ACI’s proven expertise in incentive management. This strategic deployment captures new user bases and enhances GHO adoption through targeted emission strategies.

[ARFC] Launch GHO on Linea & Set ACI as Emissions Manager for Rewards
Vote: Yes
Rationale: Deploying GHO on Linea leverages ConsenSys’s zkEVM technology for cost-efficient transactions and institutional connectivity. ACI’s emission management ensures optimal incentive distribution to bootstrap liquidity and drive sustainable adoption.

[TEMP CHECK] Add MetaMask USD (mUSD) to Aave v3 Core Instance on Ethereum and Linea
Vote: Yes
Rationale: Integrating MetaMask’s native stablecoin strengthens ties with the leading wallet provider while offering users familiar, trusted stable assets. Multi-chain deployment maximizes reach and reinforces Aave’s position as the premier lending venue.

Add XAUt to Aave v3 Core Instance
Vote: Yes
Rationale: Tokenized gold integration provides non-correlated collateral during market volatility and advances RWA adoption. This addition appeals to traditional investors seeking commodity exposure within DeFi’s efficiency and composability framework.

Onboard tBTC to Aave v3 on Base
Vote: Yes
Rationale: Adding Threshold’s decentralized Bitcoin wrapper on Base expands BTC collateral options in Coinbase’s ecosystem. This integration supports Bitcoin DeFi growth while maintaining decentralization principles through threshold signatures.

Ink aDI path activation
Vote: Yes
Rationale: Activating the aDI path ensures full operational capability for the Ink deployment, enabling cross-chain governance and efficient protocol management. This technical requirement maintains consistent infrastructure across all Aave instances.

[ARFC] Automation of the Slope2 Parameter via Risk Oracles
Vote: Yes
Rationale: Automating Slope2 parameters through risk oracles reduces manual intervention while ensuring interest rates dynamically respond to utilization changes. This enhancement improves capital efficiency and maintains optimal lending conditions across market cycles.

Horizon RWA Instance Activation
Vote: Yes
Rationale: Activating the Horizon RWA instance marks a significant milestone in institutional DeFi adoption, enabling regulated real-world asset lending. This specialized deployment opens new revenue streams while maintaining compliance standards for traditional finance integration.

Onboard tBTC to Aave v3 on Arbitrum
Vote: Yes
Rationale: Expanding tBTC to Arbitrum provides users with decentralized Bitcoin collateral on Ethereum’s leading L2. This deployment enhances cross-chain Bitcoin utility while benefiting from Arbitrum’s low costs and high throughput.

Claiming AAVE Rewards for the Sablier Legacy v1.1 Contract
Vote: Yes
Rationale: Recovering accumulated rewards from legacy contracts demonstrates prudent treasury management and resource optimization. This administrative action ensures all protocol-owned assets are properly claimed and utilized for ecosystem development.

[ARFC] Launch GHO on Ink & set ACI as Emissions Manager for Rewards
Vote: Yes
Rationale: Deploying GHO on Ink extends the stablecoin to institutional-focused environments while leveraging ACI’s emission expertise. This strategic expansion supports GHO’s growth trajectory through targeted incentives in specialized markets.

[ARFC] Onboard tBTC to Aave v3 on Base
Vote: Yes
Rationale: Formalizing tBTC integration on Base through the ARFC process ensures proper risk assessment and parameter configuration. This addition strengthens Bitcoin collateral diversity while supporting Base’s emerging DeFi ecosystem.

[ARFC] Add XAUt to Aave v3 Core Instance
Vote: Yes
Rationale: Progressing XAUt through formal governance validates community support for commodity-backed collateral. This RWA integration diversifies protocol risk while attracting traditional finance participants seeking regulated asset exposure.

Onboard rsETH to Aave V3 Linea Instance
Vote: Yes
Rationale: Adding Kelp’s rsETH to Linea provides users with restaking collateral options on the zkEVM. This integration supports the evolving restaking ecosystem while expanding liquid staking derivative choices across L2 deployments.

LBTC and eBTC Price Feeds Update
Vote: Yes
Rationale: Updating price feeds for Bitcoin variants ensures accurate valuations and liquidation thresholds. This technical maintenance protects protocol solvency while supporting the growing ecosystem of wrapped Bitcoin representations.

Fire drill proposal Ethereum VotingMachine
Vote: Yes
Rationale: Testing Ethereum VotingMachine functionality validates governance infrastructure resilience and emergency procedures. This proactive security measure ensures rapid response capabilities while maintaining decentralized decision-making integrity.

[TEMP CHECK] Onboard tUSDe December expiry PT tokens on Aave V3 Core
Vote: Yes
Rationale: Exploring December tUSDe PT tokens continues support for term-structured products with extended maturities. This addition provides users with longer-dated fixed-income opportunities while deepening Aave’s yield tokenization market.

[TEMP CHECK] Onboard LsETH to Aave V3 Core Instance
Vote: Yes
Rationale: Evaluating Liquid Staked ETH integration expands liquid staking options with another innovative protocol. This diversity in LST offerings enhances user choice while maintaining competitive dynamics in the staking derivative market.

Add ezETH to Aave v3 Core Instance
Vote: Yes
Rationale: Integrating Renzo’s ezETH provides users with restaking collateral that captures additional yield layers. This addition supports the growing restaking narrative while offering enhanced returns for ETH-denominated strategies.

Add tETH to Core Instance Ethereum
Vote: Yes
Rationale: Adding Threshold ETH diversifies liquid staking options with a decentralized, permissionless alternative. This integration strengthens Aave’s LST ecosystem while providing users with governance-minimized staking solutions.

102

Deprecation of Low Demand Volatile Assets on Aave V3 Instances
Vote: Yes
Rationale: Removing underutilized volatile assets streamlines protocol operations and concentrates liquidity in active markets. This strategic consolidation reduces risk exposure, simplifies maintenance overhead, and improves capital efficiency by focusing resources on assets with meaningful adoption.

XPL Onboarding
Vote: Yes
Rationale: Onboarding XPL expands Aave’s asset diversity and captures emerging market opportunities. This integration demonstrates continued protocol innovation while maintaining strict risk parameters and providing users with access to new collateral options.

Orbit Program Renewal - Q3 and Q4 2025
Vote: Yes
Rationale: Continuing the Orbit Program maintains vital delegate engagement and accountability mechanisms that strengthen governance quality. This renewal ensures sustained participation incentives while fostering informed decision-making across the Aave ecosystem.

Reinstate Supply and Borrow Caps on Aave V3 Gnosis Instance
Vote: Yes
Rationale: Reinstating caps on Gnosis reflects prudent risk management based on current market conditions and utilization patterns. This adjustment protects protocol stability while maintaining appropriate growth parameters for the Gnosis deployment.

Safety Module Emissions Update
Vote: Yes
Rationale: Adjusting Safety Module emissions ensures sustainable staking incentives that balance security coverage with token economics. This calibration maintains adequate protection against shortfall events while optimizing reward distributions for current market dynamics.

Aave BGD Phase 6 & Project E agreement
Vote: Yes
Rationale: Extending BGD Labs’ engagement ensures continuity of critical protocol development and maintenance services. Their proven expertise in Aave infrastructure and Project E advancement justifies continued collaboration for protocol evolution and security.

Security Services for Aave v4 <> Certora
Vote: Yes
Rationale: Engaging Certora for v4 security services provides industry-leading formal verification for next-generation protocol architecture. This proactive security investment protects users and maintains Aave’s reputation for robust, audited infrastructure.

Security Services for Aave Current Infrastructure <> Certora
Vote: Yes
Rationale: Maintaining Certora’s security coverage for existing infrastructure ensures continuous protection while v4 development progresses. This dual-track approach prevents security gaps during the transition period between protocol versions.

Service Provider Compensation Reform for V4 Alignment
Vote: Yes
Rationale: Reforming compensation structures aligns service provider incentives with v4 development milestones and long-term protocol success. This strategic adjustment ensures efficient resource allocation while attracting top talent for critical infrastructure work.

Addition of cbBTC/Stablecoin E-Mode to Aave V3 Base Instance
Vote: Yes
Rationale: Creating specialized E-Mode for Coinbase’s wrapped Bitcoin enables capital-efficient strategies on Base network. This configuration leverages institutional-grade infrastructure while maintaining appropriate risk parameters for correlated asset pairs.

USDC (old) deprecation on Gnosis Chain Instance
Vote: Yes
Rationale: Deprecating legacy USDC implementation reduces confusion and consolidates liquidity in the updated version. This technical cleanup ensures users interact with current infrastructure while maintaining smooth migration pathways.

[ARFC] Aave V4 Security Funding
Vote: Yes
Rationale: Allocating dedicated security funding for v4 development demonstrates commitment to robust protocol architecture. This investment in comprehensive audits and formal verification protects future users while maintaining Aave’s security-first approach.

Extend Ahab Funding
Vote: Yes
Rationale: Continuing Ahab’s funding supports essential protocol analytics and monitoring services. Their specialized expertise in Aave metrics and risk assessment justifies extended engagement for maintaining operational excellence.

[ARFC] Aave DAO <> BGD Labs. Phase 6 & Project E
Vote: Yes
Rationale: Formalizing BGD’s continued engagement through governance ensures transparent service provider relationships. Their technical leadership on core protocol development and Project E innovation remains crucial for Aave’s competitive positioning.

[ARFC] AAVE Buybacks program: An update
Vote: Yes
Rationale: Updating the buyback program parameters ensures efficient treasury management and value accrual mechanisms. This adjustment reflects current market conditions while maintaining sustainable tokenomics that benefit long-term holders.

[ARFC] Orbit Program Renewal - Q3 and Q4 2025
Vote: Yes
Rationale: The ARFC stage confirms community support for continued delegate incentivization through the Orbit Program. This structured approach to governance participation maintains high-quality decision-making and active ecosystem engagement.

Onboard sUSDe and USDe to Aave V3 Avalanche Instance
Vote: Yes
Rationale: Expanding Ethena ecosystem assets to Avalanche captures cross-chain yield opportunities and enhances stablecoin diversity. This deployment leverages Avalanche’s high throughput for efficient delta-neutral strategies.

Add Fluid Protocol to flashBorrowers on Plasma
Vote: Yes
Rationale: Whitelisting Fluid on Plasma extends flash loan capabilities to emerging deployments, enabling advanced arbitrage and liquidation strategies. This integration supports ecosystem development while maintaining controlled access to critical functionality.

Slope2 Risk Oracle Activation On Core Ethereum, Linea
Vote: Yes
Rationale: Activating automated Slope2 parameters on key deployments enhances interest rate responsiveness to utilization changes. This oracle-driven approach reduces governance overhead while maintaining optimal lending conditions across market cycles.

[ARFC] Security Services for Aave Current Infrastructure <> Certora
Vote: Yes
Rationale: The ARFC stage validates community support for maintaining Certora’s security services on existing infrastructure. Continuous formal verification protects current users while development teams focus on v4 architecture.

[ARFC] Evolving Resilience: Security Services for Aave v4 <> Certora
Vote: Yes
Rationale: Securing Certora’s expertise for v4 development ensures cutting-edge formal verification from design through deployment. This early engagement enables security-by-design principles that strengthen next-generation protocol architecture.

[ARFC-Addendum] Update Merit for Round 33 - Adding Gate.io
Vote: Yes
Rationale: Including Gate.io in Merit distributions recognizes their contribution to GHO liquidity and ecosystem growth. This addition incentivizes continued exchange support while expanding Aave’s presence in key markets.

Onboard syrupUSDT to Aave V3 Plasma Instance
Vote: Yes
Rationale: Adding yield-bearing USDT variant to Plasma provides users with enhanced stablecoin options on the new deployment. This integration supports capital efficiency while maintaining exposure to the dominant stablecoin.

[ARFC] USDC (old) deprecation on Gnosis Chain Instance
Vote: Yes
Rationale: Progressing legacy USDC deprecation through formal governance ensures community alignment on technical improvements. This cleanup reduces operational complexity while directing users to updated infrastructure.

[ARFC] Service Provider Compensation Reform for V4 Alignment
Vote: Yes
Rationale: The ARFC stage confirms stakeholder support for compensation restructuring that aligns with v4 development goals. This reform ensures competitive retention of critical service providers during the protocol transition.

Onboard wrsETH to Aave v3 Plasma Instance
Vote: Yes
Rationale: Integrating wrapped rsETH on Plasma expands liquid staking options on the institutional-focused deployment. This addition provides sophisticated users with restaking exposure while maintaining familiar Aave infrastructure.

Onboard sUSDe and USDe January expiry PT tokens on Aave V3 Plasma Instance
Vote: Yes
Rationale: Adding January expiry tokens to Plasma extends fixed-income opportunities to institutional users. These longer-dated instruments support sophisticated yield strategies while deepening term structure markets.

[TEMP CHECK] Onboard frxUSD to Aave v3 Ethereum Core Instance
Vote: Yes
Rationale: Exploring Frax’s algorithmic stablecoin integration diversifies collateral options with innovative stability mechanisms. This addition supports protocol experimentation while maintaining risk controls for algorithmic assets.

[ARFC] Extend Ahab Funding
Vote: Yes
Rationale: The ARFC process validates continued support for Ahab’s analytical services that enhance protocol transparency. Their specialized monitoring capabilities remain essential for risk management and operational insights.

[ARFC] TokenLogic - Phase II
Vote: Yes
Rationale: Renewing TokenLogic’s engagement continues valuable treasury management and strategic advisory services. Their proven track record in optimizing protocol economics justifies extended collaboration for sustainable growth.

Gho Plasma Launch
Vote: Yes
Rationale: Deploying GHO on Plasma extends the native stablecoin to institutional environments with enhanced compliance features. This strategic expansion captures new user segments while maintaining GHO’s decentralized principles.

Allow PyUSD as collateral
Vote: Yes
Rationale: Enabling PayPal’s stablecoin as collateral bridges traditional finance users into DeFi lending markets. This integration leverages PyUSD’s regulatory clarity and distribution network for expanded protocol adoption.

Adopt The SEAL Safe Harbor Agreement
Vote: Yes
Rationale: Implementing standardized legal frameworks provides clarity for DAO operations and participant protections. This proactive approach to regulatory compliance strengthens Aave’s institutional readiness while maintaining decentralized governance.

Full Deprecation of DPI Across Aave Deployments
Vote: Yes
Rationale: Removing DeFi Pulse Index reflects low utilization and concentration risks from index composition changes. This deprecation simplifies protocol operations while encouraging migration to more liquid collateral options.

[TEMP CHECK] Onboard USDai & sUSDai to Aave V3 Plasma & Arbitrum Instance
Vote: Yes
Rationale: Exploring Instadapp’s stablecoin ecosystem integration provides users with additional yield-bearing options across L2s. This multi-chain approach captures emerging stablecoin innovations while maintaining protocol diversity.

[ARFC] Aave v3.6 candidate
Vote: Yes
Rationale: The v3.6 candidate introduces incremental improvements in gas optimization and risk management features. This iterative upgrade maintains protocol competitiveness while preparing infrastructure for v4 transition.

Claim Aave v2 stkAAVE rewards
Vote: Yes
Rationale: Claiming accumulated rewards ensures proper treasury management and resource optimization. This administrative action recovers protocol-owned assets for redeployment in current incentive programs.

Steward Deployment: MainnetSwapSteward and RewardsSteward
Vote: Yes
Rationale: Deploying automated steward contracts reduces governance overhead for routine parameter adjustments and reward distributions. This infrastructure enhancement improves operational efficiency while maintaining security controls.

[ARFC] Safety Module & Umbrella Emission Update
Vote: Yes
Rationale: Coordinating emissions across Safety Module and Umbrella systems optimizes security incentives for evolving risk profiles. This holistic approach ensures adequate coverage while managing token distribution efficiency.

pyUSD Parameters Optimization
Vote: Yes
Rationale: Adjusting PyUSD parameters based on utilization data ensures competitive positioning and appropriate risk settings. These optimizations reflect market adoption patterns while maintaining conservative collateral requirements.

Aave v2 Deprecation - Update
Vote: Yes
Rationale: Continuing v2 deprecation milestones maintains momentum toward full migration while protecting remaining users. This systematic approach ensures orderly transition without forcing premature position closures.

Aave Liquidity Committee Funding Phase VII
Vote: Yes
Rationale: Extending Liquidity Committee funding maintains strategic market-making and incentive programs across deployments. Their expertise in liquidity optimization remains crucial for protocol growth and efficient markets.

Bob Network aDI path activation
Vote: Yes
Rationale: Activating cross-chain governance infrastructure on BOB network ensures consistent protocol management. This technical requirement enables efficient parameter updates and maintains operational standards across deployments.

[ARFC] Add MetaMask USD (mUSD) to Aave v3 Core Instance on Ethereum and Linea
Vote: Yes
Rationale: Progressing mUSD through governance confirms community support for MetaMask’s stablecoin integration. This partnership strengthens wallet-to-protocol connectivity while expanding stable collateral options.

[ARFC-Addendum] Update Merit for Round 30
Vote: Yes
Rationale: Merit round updates ensure accurate distribution based on actual contributions and performance metrics. This adjustment maintains program integrity while recognizing valuable ecosystem participation.

[ARFC] Endorse the Asset Classification Framework (AAcA)
Vote: Yes
Rationale: Formally endorsing the classification framework establishes clear asset onboarding criteria and risk categorization. This standardization improves governance efficiency while maintaining consistent evaluation standards.

[ARFC] Aave Liquidity Committee Funding Phase VII
Vote: Yes
Rationale: The ARFC stage validates continued support for Liquidity Committee operations across strategic markets. Their proven expertise in incentive optimization justifies extended funding for protocol growth.

GHO Ink Launch
Vote: Yes
Rationale: Launching GHO on Ink expands the stablecoin to specialized institutional environments with unique compliance features. This deployment captures regulated market segments while advancing GHO adoption.

[TEMP CHECK] Deploy Aave v3 on X Layer
Vote: Yes
Rationale: Exploring deployment on X Layer evaluates new scaling solutions for potential market expansion. This assessment considers technical capabilities and ecosystem development for strategic positioning.

Aave V3.5 Plasma Activation
Vote: Yes
Rationale: Upgrading Plasma to v3.5 ensures deployment parity with latest protocol improvements and security enhancements. This activation maintains consistent infrastructure standards across all Aave instances.

Aave V2 deprecation
Vote: Yes
Rationale: Formalizing v2 deprecation timeline provides clear migration expectations while focusing resources on modern infrastructure. This decisive action improves protocol efficiency and reduces technical debt.

[ARFC] Safety Module & Umbrella Emission Update
Vote: Yes
Rationale: The ARFC process ensures community alignment on coordinated emission strategies across security mechanisms. This integrated approach optimizes incentive efficiency while maintaining robust protocol protection.

[ARFC] Steward Deployment: MainnetSwapSteward and RewardsSteward
Vote: Yes
Rationale: Governance approval for steward contracts confirms support for automated parameter management infrastructure. These efficiency improvements reduce operational overhead while maintaining decentralized control.

Plasma aDI path activation
Vote: Yes
Rationale: Enabling cross-chain messaging on Plasma completes deployment infrastructure for seamless governance execution. This activation ensures consistent protocol management across the institutional-focused instance.

Raise sUSDe and USDe November expiry PT tokens caps on Aave V3 Core Instance
Vote: Yes
Rationale: Increasing caps responds to strong demand for fixed-income products while maintaining conservative risk parameters. This adjustment supports market growth without compromising protocol security.

Add EURC to Avalanche V3 Instance
Vote: Yes
Rationale: Expanding EURC to Avalanche provides Euro exposure on high-throughput infrastructure for cost-efficient operations. This deployment captures cross-chain stablecoin demand while diversifying currency options.

Risk Parameter Adjustments for Aave V3 Scroll Instance
Vote: Yes
Rationale: Optimizing Scroll parameters based on initial deployment data ensures appropriate risk settings for the zkEVM environment. These adjustments reflect actual usage patterns while maintaining conservative security margins.

Request for Bounty Payout - August 2025
Vote: Yes
Rationale: Approving legitimate bounty payments incentivizes continued security research and vulnerability disclosure. This commitment to bug bounty programs strengthens protocol security through community engagement.

[ARFC] Adopt The SEAL Safe Harbor Agreement
Vote: Yes
Rationale: The ARFC stage confirms stakeholder support for implementing standardized legal protections. This framework provides regulatory clarity while preserving decentralized governance principles.

Increase rsETH Supply Cap on Aave V3 Linea Instance
Vote: Yes
Rationale: Raising rsETH caps accommodates growing demand for liquid staking collateral on Linea’s zkEVM. This adjustment supports user growth while maintaining appropriate risk controls for the deployment.

September Funding Update
Vote: Yes
Rationale: Monthly funding ensures operational continuity for service providers and development initiatives. This regular allocation maintains protocol momentum while demonstrating transparent treasury management.

GHO Facilitator Replacement
Vote: Yes
Rationale: Upgrading GHO facilitator infrastructure improves minting efficiency and enables enhanced features for the native stablecoin. This technical improvement supports GHO’s evolution and competitive positioning.

103

Upgrade Aave instances to v3.6 Part 2
Vote: Yes
Rationale: Completing the v3.6 upgrade rollout ensures all deployments benefit from enhanced gas optimizations, improved liquidation mechanisms, and refined risk parameters. This second phase maintains protocol consistency across chains while delivering tangible improvements in transaction efficiency and capital utilization.

AGRS (Risk Stewards) migration to Risk Agents
Vote: Yes
Rationale: Migrating from Risk Stewards to Risk Agents represents an evolution in automated risk management infrastructure, enabling more sophisticated and responsive parameter adjustments. This upgrade enhances protocol resilience through improved oracle integration and expanded automation capabilities while maintaining appropriate governance oversight.

[ARFC ADDENDUM] Updating rules for ARFC and TEMP CHECK Proposals
Vote: Yes
Rationale: Refining proposal rules streamlines governance processes and clarifies submission requirements for more efficient decision-making. These procedural improvements reduce ambiguity, accelerate proposal lifecycles, and ensure consistent standards across all governance participants.

Orbit Program Renewal - Q1 and Q2 2026
Vote: Yes
Rationale: Continuing the Orbit Program maintains essential delegate incentives that drive informed governance participation and protocol stewardship. This renewal ensures sustained engagement quality while supporting the decentralized decision-making framework critical for Aave’s continued evolution.

Listing of PT Ethena April Maturity on Plasma Instance
Vote: Yes
Rationale: Adding April maturity Ethena PT tokens to Plasma expands fixed-income opportunities for institutional users with longer-dated instruments. This listing supports sophisticated yield strategies while deepening the term structure market on Aave’s compliance-focused deployment.

[ARFC] Orbit Program Renewal - Q1 and Q2 2026
Vote: Yes
Rationale: The ARFC stage confirms broad stakeholder support for extending delegate incentivization through 2026. This commitment to governance quality maintains the high standards of participation and analysis that characterize Aave’s decision-making processes.

Ethena February E-Modes Adjustments
Vote: Yes
Rationale: Adjusting February E-Mode parameters ensures optimal capital efficiency as Ethena products mature and market conditions evolve. These targeted modifications maintain appropriate risk controls while maximizing utility for users implementing delta-neutral and yield optimization strategies.

December Funding Update
Vote: Yes
Rationale: December funding allocation ensures year-end operational continuity and positions the protocol for Q1 2026 initiatives. This regular treasury management maintains service provider compensation and development momentum while demonstrating fiscal responsibility.

[ARFC] $AAVE token alignment. Phase 1 - Ownership
Vote: Abstain
Rationale: While token alignment initiatives merit consideration, the proposal requires additional clarity on implementation details and potential impacts on existing stakeholders. Abstaining pending more comprehensive analysis of ownership structure changes and their long-term implications for protocol governance.

Add WETH to the wrsETH wstETH E-Mode on Aave V3 Base Instance
Vote: Yes
Rationale: Including WETH in the liquid staking E-Mode enables more efficient leveraged staking strategies on the Base network. This addition recognizes the high correlation between ETH and its staking derivatives while maintaining conservative liquidation parameters.

USDG Listing
Vote: Yes
Rationale: Listing USDG completes the governance-approved onboarding process, providing users with regulated stablecoin collateral options. This integration strengthens institutional appeal while diversifying stable asset choices beyond algorithmic and centralized alternatives.

X Layer network aDI path activation
Vote: Yes
Rationale: Activating cross-chain governance infrastructure on X Layer ensures seamless protocol management and parameter updates. This technical requirement maintains operational consistency across all deployments while enabling efficient governance execution.

Remove USDS as collateral and increase RF across all Aave Instances
Vote: Yes
Rationale: Removing USDS collateral functionality responds to risk concerns, while increasing reserve factors generates additional protocol revenue. This conservative approach prioritizes user safety and protocol sustainability amid the evolving dynamics of the stablecoin market.

weETH E-Mode Risk Parameter Adjustment on Aave V3 Plasma Instance
Vote: Yes
Rationale: Optimizing weETH E-Mode parameters on Plasma reflects institutional usage patterns and risk appetite for liquid staking strategies. These adjustments maintain appropriate safety margins while enabling capital-efficient positions for sophisticated users.

[ARFC-Addendum] Update Merit for Round 41 - Adding OKX
Vote: Yes
Rationale: Including OKX in Merit distributions recognizes their significant contribution to GHO liquidity and ecosystem growth. This addition incentivizes continued exchange support while expanding Aave’s presence across major trading venues.

[ARFC] Onboard USDG to Aave V3 Core Instance
Vote: Yes
Rationale: Progressing USDG through formal governance validates community support for regulated stablecoin integration. This onboarding enhances protocol appeal to compliance-conscious users while maintaining diverse collateral options.

Alter mUSD Oracle Price Implementation
Vote: Yes
Rationale: Updating the mUSD oracle implementation improves price feed reliability and reduces potential manipulation vectors. This technical enhancement strengthens protocol security while ensuring accurate valuations for MetaMask’s stablecoin collateral.

XAUt Supply Cap and Debt Ceiling Adjustment on Aave V3 Core Instance
Vote: Yes
Rationale: Adjusting XAUt parameters responds to growing demand for tokenized gold collateral while maintaining conservative risk limits. These calibrations support real-world asset adoption without compromising protocol stability during market volatility.

Renewal of Umbrella Reward Allowances
Vote: Yes
Rationale: Renewing Umbrella rewards ensures continued incentivization for safety module participants who provide critical protocol protection. This allocation maintains security coverage while optimizing reward distribution efficiency across risk-bearing stakeholders.

[TEMP CHECK] Focussing the Aave V3 Multichain Strategy
Vote: Yes
Rationale: Refocusing the multichain strategy on high-value deployments optimizes resource allocation and development efforts. This strategic consolidation improves operational efficiency while maintaining presence on chains with meaningful adoption and growth potential.

[ARFC] Umbrella Coverage Expansion
Vote: Yes
Rationale: Expanding Umbrella coverage to additional assets strengthens protocol-wide risk mitigation infrastructure. This enhancement provides more comprehensive protection against potential shortfalls while maintaining capital-efficient safety mechanisms.

[ARFC] Remove USDS as collateral and increase RF across all Aave Instances
Vote: Yes
Rationale: The ARFC stage confirms community alignment on USDS risk mitigation and reserve factor optimization. This conservative approach prioritizes protocol sustainability while generating additional revenue through increased reserve accumulation.

Onboard syrupUSDT to Aave V3 Core Instance
Vote: Yes
Rationale: Adding syrupUSDT provides users with yield-bearing USDT exposure that enhances capital efficiency. This integration supports innovation in wrapped stablecoin design while maintaining familiar risk parameters for the underlying asset.

Add MetaMask USD (mUSD) to Aave V3 Ethereum/Linea
Vote: Yes
Rationale: Completing mUSD integration across Ethereum and Linea mainnet deployments strengthens the MetaMask partnership. This multi-chain approach maximizes distribution through the leading wallet provider while offering trusted stable collateral options.

[ARFC] Winding down Lend & Migration Contract
Vote: Yes
Rationale: Deprecating legacy migration infrastructure reduces technical debt and focuses resources on active protocol components. This cleanup ensures efficient codebase maintenance while users have had ample time to complete migrations.

[ARFC] Chaos Risk Agents
Vote: Yes
Rationale: Implementing Chaos Labs’ Risk Agents framework advances automated risk management through sophisticated monitoring and response systems. This infrastructure enhancement enables proactive parameter adjustments based on real-time market conditions and risk metrics.

Onboard rsETH to Aave V3 Avalanche Instance
Vote: Yes
Rationale: Expanding rsETH to Avalanche provides users with liquid restaking collateral on high-performance infrastructure. This deployment leverages Avalanche’s low costs and fast finality for efficient leveraged staking strategies.

November Funding Update
Vote: Yes
Rationale: November funding maintains operational momentum for service providers and strategic initiatives heading into year-end. This allocation ensures continuous development progress while demonstrating transparent treasury management practices.

Ethena PT FEB Listing
Vote: Yes
Rationale: Listing February-expiry Ethena PT tokens continues support for fixed-income products with varied maturity profiles. This addition provides users with tactical yield opportunities while deepening Aave’s term structure markets.

Freeze wstETH Plasma
Vote: Yes
Rationale: Freezing wstETH on Plasma responds to specific risk concerns or operational requirements on the institutional deployment. This precautionary measure protects users while issues are resolved without affecting other deployments.

[TEMP CHECK] Onboard Strata srUSDe January expiry PT tokens to V3 Core Instance
Vote: Yes
Rationale: Exploring Strata’s structured products integration introduces innovative yield tokenization mechanisms to Aave. This proposal evaluates new fixed-income primitives that could enhance the protocol’s sophisticated yield strategy offerings.

104

Introducing Anode.GG.

Anode builds on the work StableLab Governance has done over the past four years: We provide deep expertise, reliable operations, and fresh thinking in DAO governance.

We appreciate StableLab for all they have built and are grateful for the opportunity to continue their excellent work. Our focus now centers on DAO governance alone. The team remains the same. Our network stays intact. We bring sharper motivation and clearer direction.

We are here to continue our partnership with the Aave DAO. Our handles and logos now reflect this new beginning and our ongoing commitment to the Aave DAO.

In chemistry, an anode supplies electrons to power a circuit. For DAOs, Anode supplies expertise and ideas to drive success.

Please reach out with questions, requests for support, or feedback.

Onward!

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105

[ARFC ADDENDUM] Mandatory Disclosures and Conflict-of-Interest Voting
Vote: Yes
Rationale: Implementing mandatory disclosure requirements strengthens governance transparency and accountability by ensuring delegates reveal potential conflicts of interest. This framework enhances decision-making integrity while maintaining stakeholder trust in the decentralized governance process.

Aave V3.6 Mantle Activation
Vote: Yes
Rationale: Activating v3.6 on Mantle leverages the L2’s modular architecture and low-cost environment to expand Aave’s reach. This deployment captures emerging ecosystem liquidity while providing users with efficient lending infrastructure on Mantle’s optimized scaling solution.

Aave V3.6 MegaETH Activation
Vote: Yes
Rationale: Deploying v3.6 on MegaETH positions Aave at the forefront of next-generation Ethereum scaling technology. This early activation captures institutional-grade performance benefits while establishing protocol presence in MegaETH’s high-throughput ecosystem.

[ARFC] Focussing the Aave V3 Multichain Strategy - Phase 1
Vote: Yes
Rationale: Consolidating multichain strategy optimizes resource allocation by concentrating development efforts on high-value deployments with meaningful adoption. This strategic focus improves operational efficiency while maintaining presence on chains with sustainable growth potential.

Onboard Strata srUSDe PT tokens to V3 Core Instance
Vote: Yes
Rationale: Integrating Strata’s structured products expands fixed-income opportunities through innovative yield tokenization mechanisms. This addition provides sophisticated users with enhanced yield strategies while deepening Aave’s term structure market offerings.

Enhancing Market Granularity in Aave v3.6: Part 1
Vote: Yes
Rationale: Implementing enhanced market granularity improves risk segmentation and capital efficiency through more precise asset categorization. This upgrade enables targeted parameter optimization while maintaining robust risk controls across diverse asset classes.

Listing PT Ethena May
Vote: Yes
Rationale: Adding May-expiry Ethena PT tokens continues support for fixed-rate instruments with extended maturity options. This listing provides users with tactical yield opportunities while supporting the growing tokenized yield ecosystem within Aave.

MKR and USDtb oracle adjustments
Vote: Yes
Rationale: Updating oracle configurations for MKR and USDtb ensures accurate price feeds and optimal liquidation thresholds. These technical adjustments maintain protocol security while supporting efficient market operations for governance and stablecoin assets.

[ARFC] Deploy Aave V3 to MegaETH
Vote: Yes
Rationale: Proposing deployment to MegaETH demonstrates strategic positioning in next-generation scaling infrastructure. This early ecosystem entry captures technical advantages of ultra-high performance while establishing Aave’s presence in institutional-focused environments.

[ARFC] Deficit Realization Risk Oracle: Forcing Timely Bad-Debt Recognition via Dust-Collateral Cleanup
Vote: Yes
Rationale: Implementing deficit realization oracles automates bad debt recognition and cleanup processes, improving protocol health transparency. This mechanism ensures timely resolution of underwater positions while maintaining accurate financial reporting across all deployments.

Gho Mantle Activation
Vote: Yes
Rationale: Launching GHO on Mantle expands the native stablecoin’s reach into L2 environments with cost-efficient transaction capabilities. This deployment enhances GHO adoption through accessible infrastructure while supporting Mantle’s growing DeFi ecosystem.

Extend stkAAVE Emissions
Vote: Yes
Rationale: Continuing stkAAVE emissions maintains security incentives for Safety Module participants who provide critical protocol protection. This extension ensures adequate staking coverage while balancing token distribution efficiency with risk mitigation requirements.

MegaEth aDI path activation
Vote: Yes
Rationale: Activating cross-chain governance infrastructure on MegaETH enables seamless protocol management and parameter updates. This technical requirement ensures consistent operational standards while maintaining efficient governance execution across deployments.

Onboard syrupUSDC on Base
Vote: Yes
Rationale: Adding syrupUSDC to Base provides users with yield-bearing stablecoin exposure on Coinbase’s L2 infrastructure. This integration enhances capital efficiency while leveraging Base’s institutional connectivity and growing ecosystem adoption.

[ARFC] Deploy Aave v3 on Mantle
Vote: Yes
Rationale: Progressing Mantle deployment through governance confirms community support for expansion into the modular L2 ecosystem. This strategic positioning captures emerging market opportunities while diversifying Aave’s scaling infrastructure presence.

[ARFC] Onboard Strata srUSDe PT tokens to V3 Core Instance
Vote: Yes
Rationale: The ARFC stage validates stakeholder support for innovative structured product integration through Strata’s yield tokenization platform. This advancement expands sophisticated yield opportunities while maintaining robust risk assessment protocols.

[ARFC] Deploy Aave v3 on Mantle
Vote: Yes
Rationale: Confirming Mantle deployment strategy through formal governance ensures aligned community vision for L2 expansion. This deployment leverages modular architecture benefits while establishing Aave presence in Mantle’s efficient scaling environment.

Upgrade Aave instances to v3.6 Part 3
Vote: Yes
Rationale: Completing the final phase of v3.6 upgrades ensures all deployments benefit from enhanced market granularity and improved risk management features. This comprehensive rollout maintains protocol consistency while delivering advanced functionality across chains.

stkABPT Emission Update
Vote: Yes
Rationale: Adjusting stkABPT emissions optimizes reward distribution for Balancer LP stakers in the Safety Module. This calibration maintains balanced incentivization across different staking mechanisms while ensuring adequate security coverage.

Add WETH to the rsETH LST E-Mode on Aave Core Instance
Vote: Yes
Rationale: Including WETH in the rsETH liquid staking E-Mode enables capital-efficient leveraged strategies between ETH and its restaking derivatives. This configuration recognizes asset correlation while maintaining conservative liquidation parameters for sophisticated users.

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February 2026 - Funding Update

Vote: Yes

This is a routine operational funding proposal covering treasury management activities including GHO acquisition to support runway, expanding partnership SAFEs to support GHO liquidity, and creating allowances for ongoing operations. Voting Yes ensures protocol continuity and adequate treasury reserves. These periodic funding updates are essential housekeeping that keeps the DAO solvent and operationally functional, and the measures align with established treasury management practices.

Create Allowance GHO Mantle

Vote: Yes

This proposal allocates 1.5M GHO via the Aave Liquidity Committee for incentives on the Mantle deployment, complemented by 8M MNT from the Mantle Foundation. The Mantle integration showed exceptional early traction, reaching $1B in total market size within 19 days of launch. Voting Yes supports aggressive liquidity bootstrapping on a high-throughput chain with strong institutional backing, and the co-incentive structure from Mantle Foundation reduces the DAO’s effective cost of user acquisition.

Focussing the Aave V3 Multichain Strategy - Phase 1

Vote: Yes

This proposal pauses V3 activity on underperforming deployments (zkSync, Metis, Soneium) and establishes a $2M annual revenue floor for future chain expansions. Existing contracts remain operational and no user funds are affected. Voting Yes reflects sound capital allocation discipline: concentrating resources on profitable deployments reduces governance overhead, audit costs, and engineering bandwidth while ensuring Aave is compensated for its infrastructure. This is a necessary rationalization as the protocol prepares for V4.

[ARFC] Aave v3.7 Candidate

Vote: Yes

This BGD Labs proposal simplifies the Aave v3 codebase by removing unused features (isolated collaterals, “borrowable in isolation” flags, L2 sequencer oracle dependency) and streamlining eMode configuration. It is a non-invasive technical cleanup that reduces attack surface and audit complexity without altering core functionality. Voting Yes supports good engineering hygiene: less code means fewer bugs, simpler audits, and easier maintenance during the transition period to V4.

Add GHO on Aave Plasma and Deploy GSM on Plasma

Vote: Yes

This mints an additional 50M GHO from the GhoDirectFacilitator on Ethereum and bridges it to Plasma via Chainlink CCIP, bringing total GHO on Plasma to 100M. Plasma’s zero-fee USDT transfers and Bitcoin-anchored settlement offer a compelling environment for GHO adoption. Voting Yes supports GHO’s multi-chain expansion strategy and capitalizes on Plasma’s unique positioning at the Bitcoin-EVM intersection, broadening GHO’s addressable market.

GSM Migration

Vote: Yes

This implements the RemoteGSM architectural upgrade, transitioning from individual facilitators per GSM to a unified GhoDirectFacilitator to GhoReserve to multiple GSMs model. Developed by TokenLogic with support from Aave Labs and BGD, this is a foundational infrastructure improvement that enables efficient multi-chain GSM deployments without the overhead of creating unique facilitators for each L2. Voting Yes supports the scalability required for GHO’s cross-chain ambitions.

[TEMP CHECK] Deploy Aave Protocol on Monad

Vote: Yes

Monad Foundation is offering $15M in incentives plus a commitment to acquire and hold 10M GHO for 6+ months, with the DAO contributing only 500K GHO in adoption incentives. The risk-reward is highly favorable: Monad’s high-throughput L1 architecture (10K+ TPS) positions Aave to capture institutional DeFi demand, and the strong community backing (873K+ supporters) signals genuine market appetite. Voting Yes secures Aave’s first-mover advantage as the core lending layer on a major new chain at minimal DAO cost.

[ARFC] Deploy Aave v3 on X Layer

Vote: Yes

Deploying Aave v3 on X Layer (OKX’s L2 solution) extends Aave’s presence to the OKX ecosystem, which provides access to one of the largest centralized exchange user bases globally. This is a straightforward multi-chain expansion that follows established deployment playbooks. Voting Yes is consistent with Aave’s strategy of being the default lending layer across all major EVM-compatible networks, particularly those with strong institutional distribution channels.

ACI Is Leaving Aave

Vote: Yes

This proposal formalizes ACI’s departure by cancelling its GHO funding stream (ID 100070) and transferring 120 days of remaining payments to treasury.aci.eth for a four-month wind-down. ACI drove 61% of governance actions over three years and deployed $101M in incentives, and its contributions are substantial. Voting Yes facilitates a graceful, orderly transition that protects DAO infrastructure and documentation continuity. Regardless of the governance disagreements that precipitated the departure, ensuring a clean handoff of critical functions is in the DAO’s interest.

Activate Capo Risk Agent and Expand Rates Agent on More Networks

Vote: Yes

This extends Chaos Labs’ automated CAPO Risk Agent and Rates Agent systems to additional networks. CAPO protects against oracle manipulation by capping price movements for correlated assets, while the Rates Agent automates interest rate adjustments. Voting Yes reduces governance overhead, improves protocol responsiveness to market conditions, and extends critical safety mechanisms across the full multi-chain deployment. Automated risk management is essential as Aave scales beyond what manual parameter updates can support.

Enhancing Market Granularity in Aave 3.6: Part 2

Vote: Yes

Part 2 of the v3.6 granularity enhancement introduces LTV0 for assets not intended as collateral outside eModes and sets non-borrowable status where appropriate. This tightens risk isolation by preventing risky asset combinations that could create cascading liquidation risks. Voting Yes strengthens market safety without impacting normal user flows. It simply enforces the risk boundaries that should have been formalized from the start.

[ARFC] Safety Module - Reduce Emissions

Vote: Yes

This proposal reduces daily AAVE emissions to Safety Module stakers, building on a previous reduction from 390 to 300 tokens/day. At current prices, further reductions save millions annually for the DAO treasury. The Safety Module remains adequately incentivized even at lower emission levels given AAVE’s price appreciation and the protocol’s strong security track record. Voting Yes is fiscally responsible. Every token saved in emissions is a token available for development, buybacks, or other strategic uses.

[TEMP CHECK] Aave V4 Licensing

Vote: Yes

This introduces a BUSL (Business Source Use License) for the V4 codebase with a Contributor License Agreement (CLA) for community contributions. The BUSL protects the DAO’s IP investment by preventing unauthorized forks while guaranteeing open-source transition after a defined period. The CLA enables broader community contribution without IP complications. Voting Yes protects the substantial investment in V4 development while maintaining Aave’s open-source ethos on a defined timeline, striking a pragmatic balance between IP protection and community values.

Gho X-Layer Activation

Vote: Yes

Enabling GHO on X Layer follows logically from the approved V3 deployment. This sets up the emissions manager for reward distribution and configures risk parameters for GHO borrowing on X Layer. Voting Yes extends GHO’s utility to another major network, generating additional interest revenue for the DAO while deepening GHO’s cross-chain liquidity and utility as a decentralized stablecoin.

wstETH CAPO Oracle Incident User Reimbursement

Vote: Yes

On March 10, a CAPO parameter mismatch caused wstETH to be reported at ~1.1939 instead of ~1.228, unfairly liquidating 34 leveraged E-Mode accounts for approximately $26-27M. The protocol was not exposed to bad debt. This was purely an infrastructure configuration error. The reimbursement uses 141.5 ETH recovered from liquidators plus up to 345 ETH from the DAO treasury. Voting Yes is the only defensible position: the protocol caused the harm through a configuration error, and making affected users whole is both ethically correct and essential for maintaining community trust in Aave’s safety guarantees.

[ARFC] Aave <> Chainlink SVR Multi-Network Expansion

Vote: Yes

This expands the Aave-Chainlink SVR (Smart Value Recapture) system from Ethereum to Base and Arbitrum, increasing coverage from ~3% to ~27% of protocol TVL. SVR captures MEV from liquidations that would otherwise benefit third-party liquidators, splitting revenue 60/40 between Aave DAO and Chainlink. Given that SVR already accounted for 66% of total liquidation revenue on Ethereum Core in 2025, expanding to more networks represents a significant, low-risk revenue increase for the DAO.

Reduce Safety Module Emissions

Vote: Yes

This is the on-chain implementation of the previously approved ARFC (see Safety Module - Reduce Emissions above). The same rationale applies: reducing emissions preserves DAO treasury resources while maintaining adequate Safety Module incentives. Voting Yes executes the governance mandate already established in the Snapshot vote.

[ARFC] Aave V4 Activation on Ethereum Mainnet

Vote: Yes

This approves the initial V4 deployment on Ethereum Mainnet with a security-first approach: conservative risk parameters, a narrow Hub-and-Spoke configuration (Core, Prime, Plus Hubs), and limited initial assets (wETH, wBTC, USDC, USDT, GHO). V4’s architecture is a strict superset of V3’s capabilities, enabling finer-grained risk pricing, independent Spoke environments, and new revenue models not possible in V3. The proposal passed with 100% approval on Snapshot. Voting Yes supports the protocol’s most significant technical evolution, and the conservative initial rollout minimizes execution risk while unlocking V4’s architectural advantages.

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[ARFC] Bug Bounty Program on Sherlock

Vote: Yes

Rationale: Establishes an always-on bug bounty for Aave V4 through Sherlock, complementing the $1.5M audit program that drew 900+ participants. The 250 USDC stake requirement for critical submissions filters spam while being returned for valid reports. Continuous post-launch security coverage is essential for a protocol managing billions in TVL, and this formalizes that protection.

Aave V3.6 XLayer Activation

Vote: Yes

Rationale: Deploys Aave V3.6 to XLayer following BGD’s infrastructure evaluation, bringing the latest risk isolation features (Liquid eMode exclusive collaterals and borrowables) to a new ecosystem from day one. This executes the previously approved ARFC and ensures XLayer launches on the most current protocol version.

Enable SVR on Base and Arbitrum

Vote: Yes

Rationale: On-chain execution of the approved SVR multi-network expansion. The Ethereum SVR instance has already recaptured over $16.7M in liquidation MEV for the DAO, and expanding to Base and Arbitrum increases coverage from roughly 3% to 27% of total TVL with the established 60/40 Aave/Chainlink revenue split.

Aave V4 Activation on Ethereum Mainnet

Vote: Yes

Rationale: On-chain AIP implementing V4 mainnet deployment after 100% ARFC approval and a 345-day security program spanning Trail of Bits, Blackthorn, and ChainSecurity. The conservative initial rollout (three hubs, limited assets) minimizes execution risk while unlocking V4’s hub-and-spoke architecture, which is a strict superset of V3’s capabilities.

Onboard BTC.b to Aave V3 Core Instance

Vote: Yes

Rationale: Adds BTC.b (Avalanche’s native Bitcoin-backed asset) to the V3 Core instance on Ethereum via Direct-to-AIP, leveraging existing security and risk vetting from the Avalanche deployment. Expands Bitcoin collateral diversity on mainnet at minimal incremental risk.

[TEMP CHECK] Onboard USSD to Aave V3 Sonic Instance

Vote: Yes

Rationale: Onboards Sonic’s network-integrated stablecoin (built on Frax’s frxUSD infrastructure) for supply and borrowing on the V3 Sonic instance. Supporting the chain’s native stable asset strengthens Aave’s position as the primary lending venue on Sonic, and the frxUSD backing provides a known risk profile.

[ARFC] Aave V4 Licensing

Vote: Yes

Rationale: Advances the V4 licensing framework to ARFC stage, establishing BUSL protection for canonical repositories with a Contributor License Agreement enabling community contributions. Protects the DAO’s substantial V4 IP investment while guaranteeing open-source transition after a defined period. A pragmatic balance as V4 launches on mainnet.

[ARFC] Update Signers and SAFE Configuration March 2026

Vote: Yes

Rationale: Routine operational update by TokenLogic to refresh the Budget SAFE signer configuration, improving transaction execution efficiency and security for the Aave Finance team’s multi-signature operations. Standard governance housekeeping as personnel and organizational structures evolve.

[ARFC] sGHO Launch Configuration

Vote: Yes

Rationale: Defines launch parameters for sGHO, a native yield-accruing GHO savings product with no cooldowns and no slashing risk. Creates a simple, capital-efficient way for holders to earn yield denominated in GHO, directly increasing GHO utility and demand while generating additional protocol revenue.

[ARFC] Aave Will Win Framework

Vote: Yes

Rationale: Advances the framework to ARFC after incorporating substantial community feedback: unbundled V4 ratification and brand governance, extended AAVE vesting to 4 years, added accountability framework with per-product KPIs and independent revenue verification, and tightened revenue definitions. Directs 100% of Aave-branded product revenue to the DAO while funding Aave Labs’ expanded scope including absorbed BGD and ACI functions.

Listing PT Ethena 18JUN2026

Vote: Yes

Rationale: Onboards Pendle Principal Tokens for Ethena yield assets (PT-sUSDe, PT-eUSDe) with June 2026 expiration using purpose-built E-Mode categories with carefully calibrated LTV parameters. Supports the growing fixed-yield looping market while maintaining disciplined risk boundaries through restrictive base parameters outside E-Mode.

March Funding Update

Vote: Yes

Rationale: Routine operational funding proposal by TokenLogic covering March 2026 activities including GHO acquisition to support runway, asset consolidation on Ethereum, and creating allowances for ongoing operations. These periodic funding updates are essential housekeeping that maintains the DAO’s financial stability and operational continuity.

Listing PT Strata 25JUN2026

Vote: Yes

Rationale: Onboards Strata srUSDe June 2026 expiry Principal Tokens to the Aave V3 Core Instance. The asset offers approximately 12% yield with a comparable risk profile to other Ethena PT tokens already listed, and has passed thorough risk reviews from Chaos Labs, LlamaRisk, and BGD Labs through full governance stages (TEMP CHECK, ARFC, Direct-to-AIP). Expands yield strategy options for users within established risk frameworks.

Umbrella Deficit Updates

Vote: Yes

Rationale: Updates the Umbrella deficit offset parameters to better reflect the DAO’s realized liquidation-linked revenue, strengthening the first-loss layer that protects stakers before any impairment passes through. Historical performance shows deficits represent a negligible fraction of outstanding borrows, and recalibrating the offset to match the protocol’s actual earnings capacity reduces the likelihood of unnecessary slashing in regimes where the protocol is net-profitable.

[ARFC] Onboard PT-USDG-28MAY2026 to Aave V3 Core Instance

Vote: Yes

Rationale: Onboards a Pendle Principal Token based on USDG (Paxos Global Dollar) with May 2026 maturity to the V3 Core Instance. USDG is issued by Paxos Digital Singapore under MAS supervision and fully backed 1:1 by USD deposits and short-duration Treasuries, providing strong regulatory and counterparty assurance. The listing uses a hardcoded 1 USD price to eliminate oracle manipulation risk and restricts USDG to borrowable-only status, containing systemic exposure while expanding Aave’s yield strategy offerings.

[ARFC] Continued Deprecation Steps of Aave V2 Markets

Vote:

Rationale: Yes Continues the orderly wind-down of V2 markets through further parameter adjustments and oracle dependency simplification. Prior steps already disabled new borrows and implemented punitive interest rates to incentivize repayment. Reducing V2 surface area lowers operational complexity, minimizes security risk from fragmented liquidity, and focuses protocol resources on V3 and V4.

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Collateral Parameters Adjustment on MegaETH v3

Vote: Yes

Rationale: Standard risk parameter recalibration for the MegaETH instance. Markets move, parameters should too. Keeps safety margins current with actual liquidity and volatility conditions.

Deprecate Aave V3 Scroll Instance

Vote: Yes

Rationale: Scroll hasn’t hit the $2M annual revenue floor established in Phase 1 of the multichain rationalization. Keeping low-activity instances alive costs governance attention, audit budget, and engineering time that’s better spent on productive deployments and the V4 transition. Existing users can migrate at their own pace.

[TEMP CHECK] Onboard USSD to Aave V3 Sonic Instance

Vote: Yes

Rationale: USSD is Sonic’s native stablecoin built on Frax’s frxUSD. If Aave wants to be the primary lending venue on Sonic, it needs to support the chain’s core stable asset. The frxUSD backing gives risk providers a known profile to work with.

Onboard USDe to the Aave V3 MegaETH Instance

Vote: Yes

Rationale: USDe’s been vetted across multiple Aave deployments and has held up at scale. Bringing it to MegaETH follows the same playbook: every chain deployment needs access to key stablecoin primitives to drive utilization and generate fees for the DAO.

Onboard PT-USDG 28MAY2026 on V3 Core

Vote: Yes

Rationale: On-chain execution of the already-approved ARFC. USDG (Paxos, MAS-supervised) with a hardcoded 1 USD oracle price. The governance mandate was established in the Snapshot vote; this just puts it on-chain.

Upgrade Aave instances to v3.7 Part 1

Vote: Yes

Rationale: First rollout of the v3.7 cleanup: strips out unused features (isolated collaterals, “borrowable in isolation” flags, L2 sequencer oracle dependency) across live instances. Less code, smaller attack surface, easier to audit and maintain as V4 ramps up.

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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.