The Snapshot has failed. The turnout was the highest we’ve seen for a poll (1.1M votes).
Risk management evolves quickly. At times, we have not adapted quickly enough. I want to highlight where we missed over the past year:
- Communicating more directly with key stakeholders than the community
- Failed to push for updated community consensus on risk appetite
- Moving too fast on risk-off changes without a framework
- Did not align our evolving scope of work with community priorities (deployments, monitoring)
- Messed up FEI recs which caused force liquidations
- Moved too slow on merge risks
Internal Gauntlet and external DAO measures have been taken to prevent and unblock those and similar scenarios in the future.
As a next step, we welcome any and all feedback - good or bad. We haven’t received much in this forum yet. As an aside, the payment will be re-calculated prior to posting an updated Snapshot. For example, last week’s proposals removed several assets, which amounts to a reduced payment of ~$330k.
Separately for visibility, here is a non-exhaustive list of active work streams:
- Initial risk parameter recommendations to launch Aave V3 ETH
- Analysis on Llama protocol growth proposals including wMATIC Interest Rate updates
- Continued price manipulation oracle analysis
- Ongoing risk simulation, parameter recommendations, and daily dashboard updates for Aave V2 ETH, Aave V3 AVAX, and Optimism markets
- Ongoing asset listing risk analyses, including cbETH, USDT, and OP
- Interest rate curve research for Aave and optimizations