Areta Delegate Platform

Delegate Platforms
221

[ARFC-Addendum] Update GHO Dynamics and StkGHO Fast Exit Mechanism

Vote Result: YES

Rationale

Having a more efficient version of implementing FastPass via the buy walls is a good step to avoid technical complexity, and in tandem removing the Cooldown Diluter is a good move which takes into account the resilience of GHO in tough market conditions. Therefore, we will vote YES in favour of this proposal.

1 Like
222

Risk Parameter Updates - Increase USDe Debt Ceiling on V3 Ethereum

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
223

Reduce Reserve Factor on wstETH

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
224

May Funding Update

Vote Result: YES

Rationale

This is an operational Aave Finance proposal that we will vote YES in favour of. The original vote that we voted in favour of was cancelled, so we will vote in favour of this one as well.

1 Like
225

Reserve Factor Updates Mid July

Vote Result: YES

Rationale

This is a continuation of the increases in bridged RFs that we voted in favour of in early July according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.

1 Like
226

[TEMP CHECK] Onboard steakLRT to Aave v3 Lido Instance

Vote Result: YES

Rationale

As a revenue opportunity for Aave to grow the Lido v3 instance, LRTs are perfect and so is steakLRT because it accepts wstETH deposits to engage in looping strategies and for users who want to earn boosted points. To be slightly more cautious, we would like to see the risk providers assess steakLRT in the ARFC stage and understand what the asset is actually composed of in terms of yield generation, i.e., whether it is generating yield from the AVS’ it is composed of or if it is solely a points play at the moment.

Therefore, we will vote YES in favour of this TEMP CHECK and look forward to seeing Chaos Labs and LlamaRisk provide their opinions.

2 Likes
227

[ARFC] Remove Frax from Isolation Mode and onboard sFRAX to Aave v3 Mainnet

Vote Result: ABSTAIN

Rationale

While FRAX and Aave have been more synergistic over the last few months and removing FRAX out of isolation mode while onboarding sFRAX onto Aave is another step in the collaboration, and Chaos Labs is in favour of the decision and so is LlamaRisk with the suggested parameters, we think the concerns highlighted by LlamaRisk need to be addressed before we can offer a YES vote:

  • There are a lot of centralised dependencies in FRAX’s protocol operations, and the amount of control exerted by FinResPBC in terms of holding off-chain assets and not being bankruptcy remote is also a concern.
  • There is concern in removing FRAX from isolation mode with the same parameters as DAI - FRAX’s collateralization ratio is lower than that of DAI, and most of the collateral is composed of FRAX itself, which is not ideal. Therefore, we think the parameters for FRAX should actually be lower than those for DAI.
  • We would also point out the sFRAX yield sources which seem to be confusing - while the documentation suggests it comes from RWAs and AMOs, it seems as if the yield is coming from on-chain sources. This needs to be clarified.
  • sFRAX not relying on the IORB oracle to match the Federal interest rate is another question we would like to see answered.

While we would usually vote against, the fact that the risk providers think these concerns are addressed by the parameters FRAX is listed with lean towards us voting ABSTAIN and we would like to hear a response from the FRAX team on these points.

3 Likes
228

a.DI ZkSync path activation

Vote Result: YES

Rationale

Implementing this technical change to activate the v3 zkSync instance makes sense. Therefore, we will vote YES in favour of this proposal.

1 Like
229

Update PoR Executor V3 Robot

Vote Result: YES

Rationale

Re-enabling PoR on Avalanche is a minor technical change that we will vote YES in favour of.

1 Like
230

[ARFC] Add rsETH to Aave V3 Ethereum

Vote Result: YES

Rationale

Kelp DAO has enabled withdrawals which has stabilised the peg and Chaos Labs finds limited risk with listing rsETH using an exchange rate oracle and Chaos Labs and LlamaRisk are both in favour. Therefore, we will vote YES in favour of this proposal.

1 Like
231

[ARFC] Onboard ezETH to Aave V3 Lido Instance

Vote Result: YES

Rationale

Given the implementation of the withdrawal feature and the stabilization of TVL post-activation, combined with Chaos Labs supporting listing ezETH on the Lido instance, it makes sense to add ezETH. The ezETH peg has reached a value slightly lower than its theoretical book value, which is good and a big improvement on the last time this proposal was discussed in the DAO. We do have reservations about the point made by LlamaRisk around the suitability of ezETH due to the conflict with Lido’s market objectives to isolate risk, but if this is indeed an issue, then the Lido team should call it out.

Therefore, we will vote YES in favour of this proposal.

1 Like
232

[ARFC] Increase WETH Optimal Ratio to 90% on all Aave Markets

Vote Result: YES

Rationale

Given that from a risk perspective Chaos Labs is comfortable with this change due to market conditions across all venues where uOptimal is to be increased, and capital efficiency can be enhanced, liquidity providers can achieve higher returns, and borrowing conditions for users can be improved, this proposal is a logical one. Therefore, we will vote YES in favour of this proposal.

1 Like
233

Merit Base Incentives and Superfest Matching

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.

1 Like
234

GHO Borrow Rate Update

Vote Result: YES

Rationale

Reducing the GHO borrow rate to align with market conditions is logical given the low borrowing demand for stablecoins in DeFi. Therefore, we will vote YES in favour of this proposal.

1 Like
235

Enable Metis as Collateral on Metis Chain

Vote Result: YES

Rationale

It makes sense for METIS, as the native token of the Metis Chain, to be enabled as a collateral asset on the chain if there is enough demand and liquidity and the risk is low. Since Chaos Labs is in favour of this proposal and there are signs of liquidity and interest in the asset, we will vote YES in favour of this proposal.

1 Like
236

Aave v3 zkSync 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.

1 Like
237

Reserve Factor Updates August

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.

1 Like
238

[ARFC Addendum] Updated Framework for ARFC and TEMP CHECK Proposals

Vote Result: YES

Rationale

The framework overall is logical and we are glad to see constant additions being made to the Aave governance framework to update it continuously. Therefore, we will vote YES in favour of this proposal.

1 Like
239

[ARFC] Increase Community Preference For Supply Cap Limits

Vote Result: YES

Rationale

The current supply cap for LSTs and LRTs was set 1.5 years ago when market conditions were markedly different. This use case has the most revenue potential for Aave and is the most widely used use case on the network. As such, if the risk is low, and revenue potential is high, increasing the supply cap limit is logical. Moreover, Chaos Labs and LlamaRisk are both in favour of this proposal. Therefore, we will vote YES in favour of this proposal.

1 Like
240

[ARFC] Deploy an Etherfi/Stablecoin Aave v3 Instance

Vote Result: YES

Rationale

This is the Snapshot ARFC for this TEMP CHECK proposal that we voted in favour of according to our rationale here. Chaos Labs and LlamaRisk are both in favour of this proposal and adding FRAX and pyUSD to this instance is also logical. Therefore, we will vote YES in favour of this proposal.

2 Likes