Areta Delegate Platform

Delegate Platforms
241

[TEMP CHECK] Onboard STONE to Aave V3 on Scroll

Vote Result: YES

Rationale

Given the level of usage of STONE across Scroll, the impressive TVL, the high amount of ETH staked in StakeStone, and the high utilization rate of STONE, it makes sense to at least explore its risk parameters in greater detail at the ARFC stage prior to potentially listing it on v3 Scroll. Therefore, we will vote YES in favour of this proposal.

1 Like
242

July Funding Update

Vote Result: YES

Rationale

This is an operational Aave Finance proposal and we will vote YES in favour of it.

1 Like
243

[TEMP CHECK] Onboard USDS and sUSDS to Aave v3

Vote Result: YES

Rationale

Continuing the Aave and Maker partnership as it evolves into Sky is a no-brainer, and onboarding USDS and sUSDS especially when there are SPK rewards and a D3M on Lido is a great first step. Therefore, we will vote YES in favour of this proposal.

1 Like
244

[TEMP CHECK] Onboard cbBTC to Aave v3 on Base

Vote Result: YES

Rationale

Exploring the addition of cbBTC, especially in light of the situation with wBTC and BitGo, seems prudent for Aave. We would like to see the opinion of the risk providers on this asset. Therefore, we will vote YES in favour of this proposal.

1 Like
245

[ARFC] Chaos Labs Risk Parameter Updates - Decrease Supply and Borrow Caps on Aave V3 - 08.28.2024

Vote Result: YES

Rationale

Reducing supply and borrow caps for these underutilized assets is logical since it will protect the protocol from potential risks associated with abnormal or unexpected events such as significant stablecoin depegging and major hacks. Moreover, LlamaRisk agrees with Chaos Labsā€™ analysis. Therefore, we will vote YES in favour of this proposal.

2 Likes
246

[TEMP CHECK] Superlend Profit Share Proposal, Deploying a Friendly Fork of Aave V3 on Etherlink (Stage 2 EVM Rollup) and Arbitrum

Vote Result: YES

Rationale

Superlendā€™s proposal is well thought out and adds to the growing ā€˜friendly forksā€™ of Aave that provide a good revenue stream to the DAO. The product itself is valuable for users and we think that a revenue sharing agreement of 15% is fair, especially with the rationale given as to how the figure of 15% was reached. The openness to the idea of an airdrop to StkAave holders also shows their commitment to maintaining friendly relations with the DAO.

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

247

[ARFC] Orbit Program Renewal - Q3 2024

Vote Result: YES

Rationale

We are honoured to be selected for the Orbit program again and hope that we have proved our benefit to the DAO to date. We will continue to engage with the DAO as per the principles outlined on our delegate platform, and look forward to continuing our contribution to Aaveā€™s growth. Therefore, we will vote YES in favour of this proposal.

248

[TEMP CHECK] BUIDL GSM

Vote Result: YES

Rationale

We are strongly in favour of Aave expanding its presence in the RWA space and there is no better place to start than with BlackRock, the worldā€™s largest asset manager. Integrating the GSM into BUIDL is a great first step and it is good to know that registering the GSM instance is a straightforward process where the instance can hold tokens just like any other authorised BUIDL user. It is critical for Aave to open up to RWAs to protect and expand its position as the leading borrowing and lending platform in DeFi; therefore, we will vote YES in favour of this proposal.

249

Aave v3 EtherFi Ethereum 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.

250

GHO Borrow Rate Update August 2024

Vote Result: YES

Rationale

Reducing the GHO borrow rate by 1% will enable more GHO to be borrowed since the USDC and USDT GSMs are already at capacity, and given GHO trading at >$1 on Ethereum, will encourage users to migrate to GHO debt. Therefore, we will vote YES in favour of this proposal.

251

Stablecoin IR Curve Amendment

Vote Result: YES

Rationale

Aligning the Aave stablecoin rates in line with the DSR and the broader market is logical and avoids rate arbitrage. Moreover, having the rates in line with the broader market until now have led to rate stability and stable utilisation. Therefore, we will vote YES in favour of this proposal.

252

Reserve Factor Updates Late 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.

253

Chaos Labs Risk Parameter Updates - Decrease Supply and Borrow Caps on Aave V3

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.

254

Orbit Program Renewal - Q3 2024

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.

255

[ARFC] Onboard STONE to Aave V3 on Scroll

Vote Result: YES

Rationale

This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. We will vote YES in favour of this proposal since STONE has a high TVL and impressive usage across Scroll, and both Chaos Labs and LlamaRisk are in favour of onboarding STONE (with reservations). However, we think that LlamaRiskā€™s assessment that STONE launch a bug bounty program and implement a governance timelock is critical, and we urge the STONE team to take this feedback into consideration and flag that this will be done before the on-chain AIP. If there is no signal from the STONE team, we may hesitate in voting in favour on the AIP.

256

Harmonize weETH Parameters

Vote Result: YES

Rationale

Harmonizing weETH parameters across networks to increase revenue is logical, especially when the external liquidity of weETH can be enhanced and there is no adverse effect foreseen by the risk providers. Therefore, we will vote YES in favour of this proposal.

257

wstETH Borrow Cap Reduction

Vote Result: YES

Rationale

Reducing the wstETH borrow cap to ensure that wstETH is not looped to farm rewards makes perfect sense to us. Therefore, we will vote YES in favour of this proposal.

258

[ARFC] Onboard cbBTC to Aave v3 on Base and Mainnet

Vote Result: YES

Rationale

This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. We understand the concerns from the community around the lack of Proof of Reserves and would want this to be implemented ASAP, as per LlamaRiskā€™s recommendation. However, the other concerns have been allayed. We are especially confident because:

  • Risk of centralization can be controlled with risk parameters; moreover, the centralization risk is the same as with cbETH and USDC, which are listed on Aave.
  • Redemption via Coinbase mitigates lack of liquidity, which in any case is already increasing; it already has a market cap of $100M.
  • Both risk providers are comfortable with onboarding the asset.
  • The minting and burning mechanism uses the same set of smart contracts from cbETH, which has been listed on Aave.

Overall, we feel as if the benefits of listing cbBTC and offering users wrapped BTC diversification options and having cbBTC available from day one outweighs the concerns from the community. Therefore, we will vote YES in favour of this proposal.

259

Aave v3 zkSync Activation

Vote Result: YES

Rationale

This is the on-chain proposal from 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.

260

[TEMP CHECK] Onboarding swBTC to Aave V3 Ethereum

Vote Result: NO

Rationale

Given the current market cap of swBTC, LlamaRiskā€™s concerns around the tie-in with wBTC, and the relative maturity of swBTC, we think it may be too early to onboard swBTC. Therefore, we will vote NO against this proposal.