[TEMP CHECK] Aave Instances Strategy Shift
Vote Result: YES
Rationale
Segregating risk more cleanly in the Prime, Core, and Emergence instances is a necessary shift given the expanded functionality with Aave v3.2 and liquid e-mode. Having two liquid e-modes inside the Prime instance is more capital efficient and utilises liquidity better. The Emergence instance and the subsequent junior stkGHO tranche is also a necessary evolution - as the protocol has evolved, we know which assets are crucial to Aave’s revenue, but we also need to be cognizant of enabling long-tail assets on the protocol. However, the risk from these assets is greater, and segregating this risk is a good balance to achieve. It would be good to define how an asset can get ‘promoted’ to the Core instance and be eligible for borrowing other assets than GHO.
All in all, we are very much in favour of this proposal and will vote YES.