The ARFC is explicit on this and we’ll confirm it: the instance is externally managed by Sentora, this sits outside the risk management mandate of the DAO’s service providers. On that design the instance falls outside LlamaRisk’s engagement with the DAO. We have not reviewed its configuration, and research we’ve published on any asset for Aave core markets shouldn’t be taken as covering its use in this instance.
That isn’t an objection. Whether to authorise an externally managed instance on these terms is the DAO’s decision.
The one thing we’d add concerns the future. The ARFC authorises no credit lines to or from Aave DAO hubs and requires a separate proposal under the Aave Risk Framework for any such line. If that path is ever taken, in either direction, the instance would come within the Aave risk perimeter and within our mandate, and we would expect it to meet the Aave risk standard in full: adherence to the Risk Framework, LlamaRisk review of the assets, parameters and market structure, delisting where required, and standard risk steward operation with LlamaRisk as a signing party. We’ve discussed this with Sentora and are open to working with them on it, as we are with any team building on Aave.