[ARFC] Continued Deprecation Steps of Aave V2 Markets
Vote Result: YES
Rationale
This proposal seeks to adjust oracle configurations, risk parameters, and interest rate models across Aave V2 instances on Ethereum, Avalanche, and Polygon to reduce protocol risk and support the orderly wind-down of V2. The proposed steps are all measured and facilitate gradual deleveraging without triggering widespread forced liquidations. Therefore, we are voting FOR this proposal.
Aave Will Win Framework: Primary Funding Request
Vote Result: YES
Rationale
This proposal seeks to fund Aave Labs with $25,000,000 in stablecoins and 75,000 AAVE tokens as requested under the Aave Will Win (AWW) Framework. We previously voted in support of the AWW proposal during the temp-check and ARFC proposal phases and we’re reconfirming our support by voting YES for this onchain proposal.
[TEMP CHECK] Onboard USSD to Aave V3 Sonic Instance
Vote Result: YES
Rationale
This proposal seeks to onboard USSD, Sonic’s native USD stablecoin built on Frax’s frxUSD infrastructure, to the Aave V3 Sonic Instance as a suppliable and borrowable asset. USSD is backed 1:1 by high-quality, short-duration tokenized U.S. Treasury instruments custodied with regulated providers, offering a credible reserve composition and reliable redemption mechanism. Therefore, we are voting FOR this proposal.
Deprecate Aave V3 Scroll Instance
Vote Result: YES
Rationale
This proposal seeks to complete the deprecation of Aave V3 on Scroll by freezing all reserves and raising reserve factors on select assets to 85%, following the cap reduction executed on April 10, 2026. Freezing supply and borrow activity while increasing reserve factors is the standard and orderly approach to incentivizing existing users to unwind positions and exit the deployment. Therefore, we are voting FOR this proposal.
Onboard PT-USDG 28MAY2026 on V3 Core
Vote Result: YES
Rationale
This proposal seeks to onboard PT-USDG-28MAY2026 as a collateral asset on the Aave V3 Core Instance on Ethereum, enabling users to borrow stablecoins against their Pendle PT position. The underlying asset, USDG, is issued by Paxos, a well-regulated institution, and the Pendle market is already live and observable, providing a credible basis for risk assessment and demand evaluation. Therefore, we are voting FOR this proposal.
Upgrade Aave instances to v3.7 Part 1
Vote Result: YES
Rationale
This proposal seeks to upgrade multiple Aave V3 protocol instances from v3.6 to v3.7, introducing simplifications such as streamlined E-mode configuration, removal of deprecated isolation and sequencer oracle features, and minor liquidation calculation improvements. The upgrade is a straightforward protocol maintenance action. Therefore, we are voting FOR this proposal.
GHO Inclusion into E-Modes on Aave V3 Plasma
Vote Result: YES
Rationale
This proposal seeks to add GHO as a borrowable asset within the PT-sUSDe-18JUN2026 and PT-USDe-18JUN2026 stablecoin E-modes on the Aave V3 Plasma Instance. Expanding GHO’s borrowable use cases within existing E-mode structures is a straightforward and low-risk step that deepens GHO utility and strengthens its integration across Aave markets. Therefore, we are voting FOR this proposal.
April Funding Update
Vote Result: YES
Rationale
This proposal seeks to execute Aave DAO’s April funding update, covering GHO runway acquisition, multi-chain asset consolidation, Merit program allowances, bug bounty payouts, and reimbursements for audit costs. These are routine treasury management and operational activities that maintain the DAO’s financial health and fulfill existing commitments to service providers and contributors. Therefore, we are voting FOR this proposal.
Onboard USDe to the Aave V3 MegaETH Instance
Vote Result: YES
Rationale
This proposal seeks to onboard USDe to the Aave V3 MegaETH instance as a borrowable stablecoin with E-mode collateral functionality. USDe is already well-established across multiple Aave deployments and its inclusion on MegaETH expands the stablecoin collateral set, improves market completeness, and provides yield utility comparable to sUSDe exposure within the MegaETH architecture. Therefore, we are voting FOR this proposal.
[ARFC] Pause AAVE Buybacks
Vote Result: YES
Rationale
This proposal seeks to formally ratify the pause on AAVE token buybacks, effective April 19, 2026, in response to the rsETH bridge exploit that introduced unbacked rsETH into Aave V3 markets across multiple chains. Preserving treasury flexibility while the scope of potential losses and DAO-level responses remains unresolved is a prudent and responsible course of action. Therefore, we are voting FOR this proposal.
[ARFC] rsETH Incident Funding Update
Vote Result: YES
Rationale
This proposal seeks to authorize the Aave DAO to contribute treasury funds as part of the broader DeFi United coalition recovery effort to restore rsETH backing following the April 18, 2026 bridge exploit. Participating in a coordinated, ecosystem-wide remediation effort is consistent with Aave’s reputation of protecting users, preserves depositor confidence across affected V3 markets, and leverages a well-positioned balance sheet to absorb a shortfall that, while material, has already been significantly reduced through coordinated recovery streams. Therefore, we are voting FOR this proposal.
rsETH Incident: Liquidate rsETH attacker positions
Vote Result: YES
Rationale
This proposal seeks to authorize and execute liquidations against the rsETH attacker’s positions across Aave V3 Ethereum Core and Arbitrum, routing seized collateral to a Recovery Guardian multisig as part of the broader DeFi United resolution effort. This is a measured approach to reducing ongoing risk to the DAO and its users. Therefore, we are voting FOR this proposal.
Orderly Transition and Offboarding Plan for Chaos Labs
Vote Result: YES
Rationale
This proposal seeks to formalize Chaos Labs’ structured offboarding from its risk management role within the Aave DAO, including the cancellation of active streams, deactivation of Risk Oracles, and a 30-day transition period to ensure continuity. With LlamaRisk already in place as a secondary provider and confirmed ready to absorb all outstanding responsibilities, the transition framework is orderly and poses minimal disruption risk to the protocol. Therefore, we are voting FOR this proposal.
Winding Down the LEND Migration Contract
Vote Result: YES
Rationale
This proposal seeks to terminate the LEND to AAVE migration contract after more than five years of operation, redirecting approximately 302,000 AAVE remaining in the contract back to the Aave DAO Ecosystem Reserve. Closing this long-dormant contract is a necessary measure that recovers ~$100 million in assets for future governance-directed use, and a final communication campaign is being conducted to minimize disruption to any remaining users. Therefore, we are voting FOR this proposal.
[ARFC] Aave Protocol Bug Bounty Programs Restructure
Vote Result: YES
Rationale
This proposal seeks to restructure Aave’s unified bug bounty program into seven subsystem-specific programs across Immunefi, Sherlock, and Cantina, with tailored scope, severity criteria, and materially increased payout ceilings reflecting the protocol’s expanded architecture. This measure aligns with Aave’s security needs. Therefore, we are voting FOR this proposal.
[ARFC] Renew LlamaRisk as Risk Service Provider - epoch 4
Vote Result: YES
Rationale
This proposal seeks to renew LlamaRisk as Aave’s primary Risk Service Provider for one year, expanding its mandate to cover Aave V3, V4, and Horizon with a focus on building protocol-owned, DAO-verifiable risk infrastructure on Chainlink CRE. Having already stepped in to maintain operational continuity following the departure of the previous risk provider, LlamaRisk is well positioned for this task. Therefore, we are voting FOR this proposal.
Complete Offboarding Plan for Chaos Labs
Vote Result: YES
Rationale
This proposal seeks to complete the remaining AgentHub permission cleanup on Ethereum mainnet and Plasma that was left incomplete following AIP-479, due to an execution mismatch caused by emergency Robot cancellations that occurred before the original payload could execute. This is a necessary housekeeping step to reach the offboarding state already approved by the DAO. Therefore, we are voting FOR this proposal.
rsETH Incident: WETH LTV Restoration Across V3 Instances
Vote Result: YES
Rationale
This proposal seeks to restore WETH Loan-to-Value ratios across six Aave V3 deployments to their pre-exploit levels, following the substantial recovery of unbacked rsETH supply and the securing of DeFi United coalition funds to cover remaining bad debt. Given the demonstrated progress of the recovery effort and the unnecessary friction that a prolonged LTV=0 creates for end-users, restoring WETH parameters is a proportionate and timely response. Therefore, we are voting FOR this proposal.
Add CoW Swap Adapters to flashBorrowers
Vote Result: YES
Rationale
This proposal seeks to register the CoW Swap Adapter factory as an approved flash borrower across nine Aave V3 instances, exempting it from flash loan fees when accessing flash liquidity for collateral and debt swap flows. Removing this internal cost improves execution quality for users and strengthens the competitiveness of the Aave interface against external alternatives. Therefore, we are voting FOR this proposal.
sGho Launch
Vote Result: YES
Rationale
This proposal seeks to upgrade sGHO into a native onchain yield-accruing ERC-4626 savings product, setting an initial fixed Aave Savings Rate of 4.25% APR, introducing a GhoRouter for seamless onboarding, and establishing the sGHO Steward as the ongoing rate governance mechanism. The transition addresses structural limitations of the current offchain Merit-based model, improving composability with external DeFi protocols while offering a competitive and sustainable yield premium over comparable stablecoin savings products. Therefore, we are voting FOR this proposal.
[ARFC] TokenLogic Phase II - Extension
Vote Result: YES
Rationale
This proposal seeks to renew TokenLogic as Aave’s finance and operations service provider for one year, expanding its mandate to cover treasury management, GHO development, incentive design, tooling, V4 technical contributions, and business development, reflecting the broader responsibilities TokenLogic has assumed following the restructuring of Aave’s service provider landscape. Given TokenLogic’s consistent delivery across its prior mandate and the critical nature of the functions it now anchors for the DAO, this renewal is necessary to maintain operational continuity through the Aave V4 transition. Therefore, we are voting FOR this proposal.
Offboarding Plan for Chaos Labs part 3: Cancel stream 100073
Vote Result: YES
Rationale
This proposal seeks to cancel the outstanding payment stream 100073 on the Aave Prime collector as the final step in completing the Chaos Labs offboarding process. Given that the original AIP-479 payload was unable to execute this action in full and the receiving address is no longer under Chaos Labs’ operational control, a clean stream cancellation is the appropriate resolution to close out the offboarding. Therefore, we are voting FOR this proposal.
Extend stkAAVE Emissions
Vote Result: YES
Rationale
This proposal seeks to renew the AAVE allowance from the Ecosystem Reserve to extend stkAAVE reward distribution by 90 days at the current unchanged emission rate. Doing so ensures uninterrupted rewards for stakers while the DAO progresses toward repurposing stkAAVE into a no-risk dividend yield contract. Therefore, we are voting FOR this proposal.
CAPO SnapshotRatio Update Across Aave V3
Vote Result: YES
Rationale
This proposal seeks to refresh stale CAPO snapshot ratios and timestamps across multiple Aave V3 instances, and to reduce the sUSDe maxYearlyRatioGrowthPercent from 50% to 11.17% on Ethereum. Anchoring the cap parameters to recent onchain readings directly reduces the spread between the CAPO upper bound and current exchange rates, mitigating the risk of collateral overpricing in the event of an inflation attack. Therefore, we are voting FOR this proposal.
[ARFC] Establish Aave Rewards Multisig and Initial Incentives Operations Mandate
Vote Result: YES
Rationale
This proposal seeks to establish a dedicated 3-of-4 rewards operations multisig at rewards.aave.eth to receive and administer third-party incentive funding for Aave growth campaigns. This structure will improve operational transparency for partner-funded campaigns and provides partners a reliable endpoint for incentive coordination ahead of upcoming campaign windows. Therefore, we are voting FOR this proposal.
Renew LlamaRisk as Risk Service Provider - Epoch 4
Vote Result: YES
Rationale
This is the onchain vote to renew LlamaRisk as Aave’s primary Risk Service Provider for one year. We had voted in support of the offchain temp-check and our position has remained unchanged. Therefore, we will be voting in support of this proposal.
Upgrade Aave instances to v3.7 Part 2
Vote Result: YES
Rationale
This proposal seeks to upgrade Aave V3 instances across ten networks to v3.7, in order to remove deprecated features such as isolated collaterals, borrowable-in-isolation flags, and the L2 sequencer oracle, while also deploying a new v3.7-compatible RiskSteward across all relevant instances. This upgrade improves the UX for users and the implementation has been reviewed by Certora from a security standpoint. Therefore, we are voting FOR this proposal.
[ARFC] stkAAVE Emissions Update
Vote Result: YES
Rationale
This proposal seeks to reduce stkAAVE emissions from 220 to 150 AAVE per day in order to realign the staking APR with the DAO’s targeted 2.75% rate, accounting for recent and anticipated large-holder withdrawals that have caused the APR to drift upward. Recalibrating emissions to reflect actual participation levels is a prudent use of DAO capital, particularly in the context of the paused buyback program and the balance sheet pressures following the rsETH recovery effort. Therefore, we are voting FOR this proposal.