# \[ARFC\] Chaos Labs V2 to V3 Migration Next Steps **URL:** \ **Category:** Governance\ **Created:** [June 15, 2023, 12:51am UTC](https://governance.aave.com/t/arfc-chaos-labs-v2-to-v3-migration-next-steps/13701 "2023-06-15T00:51:15Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![ChaosLabs](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/chaoslabs/32/6850_2.png) [@ChaosLabs](https://governance.aave.com/u/ChaosLabs)\ **Post date:** [June 15, 2023, 12:51am UTC](https://governance.aave.com/t/arfc-chaos-labs-v2-to-v3-migration-next-steps/13701/1 "2023-06-15T00:51:16Z")
## Summary This discussion aims to gauge the community preferences regarding freezing low-med market cap assets on Aave V2 Ethereum (SNX, ENS, MKR, UNI, 1inch, LINK). With the successful launch of Ethereum V3, users can seamlessly migrate the vast majority of positions. V3 boasts superior risk levers, allowing the community to configure more granular risk settings and more effectively safeguard user funds. ## Motivation Our strategy underscores a data-centric approach focused on derisking Aave while ensuring the protocol’s long-term robustness and safeguarding user funds. Following the successful deployment of Aave V3 on the Ethereum network, we propose a reassessment of smaller-to-medium capitalization tokens. Unlike CRV (we will soon contribute further insights on this topic, as the complexity of the CRV market, primarily due to its substantial scale, warrants a more nuanced examination), these markets exhibit a more modest size and generally can be conveniently migrated. This diverges from preceding deliberations on market freezes prior to the V3 launch. With V3 live, invoking a freeze on V2 markets does not preclude users from capitalizing on these markets. Instead, it enhances the community’s capacity to safeguard user funds more effectively, as V3’s advanced risk management mechanisms provide a more secure environment. This proactive strategy aims to enforce a freeze on low-to-medium capital assets on V2, thereby averting a scenario resembling Aave V2’s current overexposure to CRV while permitting users to engage with Aave via V3 markets. This discussion seeks to ascertain the community’s position on the concept of freezing. This is the optimal course of action from a risk management and security standpoint. It enables users to immediately leverage alternatives for almost all markets or in the near future, as several are currently in the advanced phases of governance and are poised for imminent launch. Note: Some of the markets cannot be migrated completely with the current caps. In these cases, we will increase caps where liquidity permits. | Asset | V2 Supply | V3 Supply Cap | Current V3 Supply | V2 Borrow | V3 Borrow Cap | current V3 Borrow | | --- | --- | --- | --- | --- | --- | --- | | 1INCH (pending AIP) | 10.77M | 22M | N/A | 593K | 720K | N/A | | ENS (pending AIP) | 1.1M | 1M | N/A | 9.3K | 40K | N/A | | LINK | 12.47M | 24M | 552K | 1.79M | 13M | 26K | | MKR | 17K | 6K | 472 | 238 | 1.5k | 84 | | SNX | 3.69M | 2M | 64K | 1.57M | 1.1M | 11.7K | | UNI | 2.22M | 2M | 61.5K | 14.1K | 500K | 5.7K | ## **Next Steps** We welcome community feedback before escalating the discussion to AIP. ---
**Author:** ![ChaosLabs](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/chaoslabs/32/6850_2.png) [@ChaosLabs](https://governance.aave.com/u/ChaosLabs)\ **Post date:** [June 22, 2023, 11:17pm UTC](https://governance.aave.com/t/arfc-chaos-labs-v2-to-v3-migration-next-steps/13701/2 "2023-06-22T23:17:23Z")
[AIP-252](https://app.aave.com/governance/proposal/?proposalId=252) has been published and voting starts in 24h. Thank you in advance for your participation in the vote. > **[Aave - Open Source Liquidity Protocol](https://app.aave.com/governance/proposal/?proposalId=252)** > > Aave is an Open Source Protocol to create Non-Custodial Liquidity Markets to earn interest on supplying and borrowing assets with a variable or stable interest rate. The protocol is designed for easy integration into your products and services. ---
**Author:** ![system](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/e/e11637c36f45ffa158f2146f5c19438d46e0824d.svg) [@system](https://governance.aave.com/u/system)\ **Post date:** [July 22, 2023, 11:18pm UTC](https://governance.aave.com/t/arfc-chaos-labs-v2-to-v3-migration-next-steps/13701/3 "2023-07-22T23:18:02Z")
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