Aave v3.1 Upgrade
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
Lido Ethereum Instance Activation
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
[TEMP CHECK] Onboard CDCETH to Aave V3 on Ethereum
Vote Result: ABSTAIN
Rationale
Crypto.com is a very well-known exchange and brand and directing users to Aave from within the app could be valuable. However, TVL on Ethereum is under $3M and most of it on Cronos; this may not be a novel revenue source since bridging incurs costs as well and supporting an LST with $3m TVL on Ethereum does not make sense right now. An asset with low liquidity and usage on Ethereum leads to higher costs for Aave of onboarding the asset.
Therefore, we will vote ABSTAIN on this proposal and wait for liquidity and TVL on Ethereum to grow. We would also encourage the proposers to showcase how easy it is to bridge CDCETH from Cronos to Ethereum to make it more likely for that TVL to be deposited on Aave and bring benefits to the ecosystem.
[ARFC-Addendum] Update Boosters for Merit Round 7
Vote Result: YES
Rationale
We think the expansion of the Second Degree Aligned Users Booster is a good idea; Safe is an aligned party on Ethereum and rewarding PASS users is a good idea. Replacing the Diversity Supporter boost with the Etherfi boost is also sensible. We also agree with the refocus on StkGHO instead of GHO minting rewards as anything that threatens the GHO peg should be mitigated.
As an aside, we agree with @Terminal that a dedicated Aave UI should be in place for the Merit rewards; while ACI has done a fantastic job with Merit, it is an Aave program and should have a prime place within the Aave platform rather than being hosted on the ACI platform. This is crucial to avoid the attack vector of fake rewards and is a security and UI/UX issue for core Aave users who get rewards in the first place. We urge @ACI to take this feedback on board and hope that a dedicated Aave UI for Merit is being or will be created.
All in all, we will vote YES in favour of this proposal.
1 Like
[ARFC] Onboarding weETH to Aave V3 on Scroll
Vote Result: YES
Rationale
Adding weETH to Scroll to replicate the successful listings on Ethereum, Arbitrum, and Base is sensible to us, especially since the risk providers are in favour. Therefore, we will vote YES in favour of this proposal.
May Funding Update
Vote Result: YES
Rationale
This is an operational Aave Finance proposal that we will vote YES in favour of.
Treasury Tooling Payment
Vote Result: YES
Rationale
Paying TokenLogic for completing this work which was approved by the in late-2023 is a no-brainer and it is good to see that the bridge was already used in the April Funding Update. Therefore, we will vote YES in favour of this proposal.
1 Like
[ARFC] Chaos Labs Risk Parameter Updates - Increase USDe Debt Ceiling on V3 Ethereum - 07.22.2024
Vote Result: YES
Rationale
Given that the debt ceiling has reached its cap and the methodology allows for a further increase, it would make sense to do so. However, Ethena dynamics are still evolving and it is not necessarily the safest asset on Aave; as Chaos Labs has pointed out, the insurance fund is much lower than their recommendation and USDe debt is concentrated in one user, which needs to be monitored very closely. We urge caution with this asset and will cautiously vote YES in favour of this proposal.
Events Grant 2024
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
1 Like
wETH LTV0 Aave V3 Lido Instance
Vote Result: YES
Rationale
The reasons outlined by TokenLogic to not set wETH as collateral make sense to us; if one of the only in-demand and beneficial ways of using wETH as collateral is for liquidity mining, then capital is likely to be mercenary at the expense of smaller users if the borrow cap is fully utilised. Users can still use wETH as collateral on the main Lido market if they wish to do so. Aave should incentivise sustainable deposits and learn from the mistakes of incentivising liquidity mining and mercenary capital to enter the ecosystem, because this is fleeting; more aligned users should earn rewards rather than only short-term profit seekers.
Therefore, we will vote YES in favour of this proposal.
1 Like
Risk Parameter Updates - sAVAX on Aave V3 Avalanche
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
1 Like
[TEMP CHECK] AAVEnomics update
Vote Result: YES
Rationale
@ACI thank you for this fantastic proposal as a follow-on to BGD’s unveiling of Umbrella. We’re fully in favour with the plan you have outlined and the triggers/milestones are extremely well thought out. Being slow and steady with a focus on maintaining profitability and security over the long-term is an impressive mindset that sets Aave apart from all its peers. The Buy and Distribute plan is also great, bringing in widely used methods from TradFi to bolster AAVE.
One topic that is slightly confusing is Anti-GHO; could you expand on what the benefit is compared to just having a discount for StkAAVE holders minting GHO?
We also think @0xkeyrock.eth’s suggestion is intriguing and would like to explore the dynamics of an insurance factor further, especially from a competition perspective since suppliers will receive less APY compared to the potential profit saved from the RF.
In conclusion, we’re fully on board and excited to continue contributing to Aave’s growth!
Therefore, we will vote YES in favour of this proposal.
1 Like
[ARFC] Onboard slisBNB to Aave V3 on BNB Chain
Vote Result: YES
Rationale
This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. The risk providers are in favour of this proposal as well. Therefore, we will vote YES in favour of this proposal as well.
1 Like
Onboard USDC.e on Gnosis
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here.
1 Like
Onboarding weETH to Aave V3 on Scroll
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
1 Like
GHO Arbitrum Parameter Adjustments
Vote Result: YES
Rationale
There is a lot of demand for GHO on Arbitrum, shown by the new cap of 2.5M being filled in 90 mins. The proposed changes are significant (increase of 8x for the ETH and ARB GHO bucket capacities and a 5x increase in borrow and supply caps), but given that Chaos Labs has endorsed the changes, and that ARB emissions for liquidity mining are due to commence, we are supportive of this change. As seen in our reply to the forum post, it would be good to have the underlying data behind these changes to hand given the large increases proposed here. All in all, we will vote YES in favour of this proposal.
1 Like
TokenLogic + karpatkey - Phase II
Vote Result: YES
Rationale
This is the on-chain vote for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
1 Like
[TEMP CHECK] Onboard osGNO to Aave v3 Gnosis
Vote Result: YES
Rationale
Onboarding osGNO may make sense and we will tentatively vote YES to allow the risk providers to offer an opinion. We would also like to see the revenue numbers from this asset listing in the ARFC stage to make a better decision then.
1 Like
[ARFC] Merit Base Incentives and Superfest Matching
Vote Result: YES
Rationale
Expanding the Merit program to Base is completely sensible given the pace of growth of the Base ecosystem. Increasing Aave’s market share in Base is a necessity and expanding coverage of Umbrella to Base also makes sense. Therefore, we will vote YES in favour of this proposal.
1 Like
ADI Shuffle Update
Vote Result: YES
Rationale
Upgrading a.DI in light of the improvements made since end-2023, namely integrating the native Scroll bridge, enabling compatibility with Wormhole, and maintaining compatibility with the latest versions of LayerZero, CCIP, and Hyperlane adapters. The Bandwidth and Optimal Bandwidth innovations to a.DI to enable it to solve bridging and message passing bottlenecks are fantastic additions to a.DI and we commend BGD for continually and proactively improving the system.
Therefore, we will vote YES in favour of this proposal.
1 Like