Areta Delegate Platform

[ARFC] Enable tBTC/WBTC Liquid E-Mode on Aave v3 Mainnet

Vote Result: YES

Rationale

To enable capital efficiency for borrowers when using wBTC and tBTC, it does make sense to introduce an eMode. Even though a small portion of users are utilizing this method of leverage, introducing eMode may make them more keen to do so. Given that tBTC is a more decentralized version of BTC and we are in favour of introducing the cbBTC/wBTC eMode, even though it may not initially see as much usage, we think it makes sense to give tBTC the same opportunity as cbBTC. Therefore, we will vote YES in favour of this proposal.

[TEMP CHECK] Aave x Metis: Strategic Alignment Initiative

Vote Result: YES

Rationale

Utilising Metis’ strong points of differentiation such as its decentralized sequencer model to support key Aave priorities like the proliferation of GHO is a good idea. It would be intriguing to establish GHO’s supremacy via CCIP in Metis’ young stablecoin market. Therefore, we will vote YES in favour of this proposal.

[ARFC] Onboard SCR to Aave V3 Scroll Instance

Vote Result: NO

Rationale

This is the ARFC for this Snapshot TEMP CHECK that we voted to ABSTAIN for according to our rationale here. We were uncertain about the prospects of SCR in the TEMP CHECK but still wanted to see an assessment by the risk providers. Unfortunately, at this stage, it does not seem as if SCR is a mature enough asset to be listed on Aave v3 given the concerns raised by the risk providers, namely around the low number of integrations, the low float and high FDV nature, the high concentration of circulating supply in a few wallets, and the volatility of the asset. Therefore, at this stage, we will vote NO against onboarding SCR onto Aave.

Enable sUSDe/USDT Liquid E-Mode on Core Instance

Vote Result: YES

Rationale

Given the clear demand for USDT being borrowed against sUSDe and both risk providers being in favour of this proposal, it is a no-brainer for us to vote YES in favour of this proposal.

WBTC Reserve Factor and UOptimal Increase

Vote Result: YES

Rationale

According to the data, WBTC’s supply rate does not materially impact its supply behaviour. Given the estimated increase in borrow demand for WBTC due to the launch of yield-bearing BTC e-modes for looping, increasing uOptimal and the RF optimises for the impending launch and optimises for Aave’s revenue increase. Therefore, we will vote YES in favour of this proposal.

Add dHEDGE Protocol to flashBorrowers

Vote Result: YES

Rationale

Adding dHedge to the flashBorrowers list seems to make sense since multiple vaults use Aave v3 and making it easier for these users to utilise flash loans will increase usage of Aave v3. There also does not seem to be a lot of risk in doing this. Therefore, we will vote YES in favour of this proposal.

USDS Borrow Rate Update on Core and Prime Instances

Vote Result: YES

Rationale

sUSDe has been identified as causing increases in the borrow rate for USDS, and the highlighted risks of rebalancing and the inability of the market to accommodate for sUSDe means that pausing sUSDe in the Prime instance makes sense, especially given the ability of users to utilise sUSDe in the Core instance. Reducing rate volatility in the Prime instance is necessary, and extremely high borrow rates are a net negative for users. Therefore, we will vote YES in favour of this proposal.

1 Like

September Funding Update - Part A

Vote Result: YES

Rationale

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

[ARFC] Aave Instances Strategy Shift

Vote Result: YES

Rationale

This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.