# Chaos Labs - Monthly Community Update

**URL:** https://governance.aave.com/t/chaos-labs-monthly-community-update/11174
**Category:** Governance
**Created:** [December 25, 2022, 9:17am UTC](https://governance.aave.com/t/chaos-labs-monthly-community-update/11174 "2022-12-25T09:17:53Z")
**Posts on this page:** 1
**Showing post:** 8

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### 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: [August 2, 2023, 11:10am UTC](https://governance.aave.com/t/chaos-labs-monthly-community-update/11174/8 "2023-08-02T11:10:49Z")

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# July 2023

## Overview

This update highlights the past month’s activities and proposals and shares our planned work.

## Highlights

- On the weekend of July 22nd, the MAI token underwent considerable fluctuations, with the price dropping to a low of nearly $0.91. Even though we didn’t recommend immediate actions, we proposed a **[measure](https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-mai-on-aave-v3-2023-7-23/14110)** to curtail the exposure on Aave while the market continues to evolve. This suggestion entailed drastically reducing supply and borrow caps as well as debt ceilings across all applicable deployments (Avalanche, Optimism, Arbitrum, Polygon).

 ![Untitled - 2023-08-02T130936.645](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/e/e82efa9291e94dad9f9c37789004ae774fd4e9e8.png)

- Following the community discussion around the CRV market on Aave V2 in June, Chaos proposed an [alternative strategy](https://governance.aave.com/t/gauntlet-recommendation-to-freeze-crv-and-set-crv-ltv-0-on-aave-v2/13644/31) to freezing the market. Chaos has since put forward and executed 2 proposals to decrease LT and LTV for CRV on V2 Ethereum, with the community opting for a more [aggressive reduction](https://app.aave.com/governance/proposal/?proposalId=280) of these parameters in the most recent iteration.

- We published the following proposals for risk parameter updates and new asset listings as part of the efforts for V2 → V3 migration.

- Provided analysis and supported the following proposals:

## What’s Next

In the coming month, the Chaos team will focus on the following few areas:

- GHO - following the launch of GHO and initial discussion surrounding the [GSM](https://governance.aave.com/t/temp-check-gho-stability-module/13927), [GHO Steward](https://governance.aave.com/t/arfc-gho-steward-agile-parameter-changes/13922/8), [Liquidity Pools](https://governance.aave.com/t/arfc-gho-liquidity-pools-primary-pools-initial-strategy/14071), and more, we are prepared to support the community on all GHO-related initiatives.
- Continuation of the community plan for V2 → V3 migration as described [here](https://governance.aave.com/t/temp-check-ethereum-v2-to-v3-migration/12636)
- Continuation of the V2 risk parameter updates to gradually reduce capital efficiency across V2 collateral assets.
- Continuous optimization of risk parameters on V3 deployments.
- Analysis and parameter recommendations for new assets and markets.

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_[View the full topic](https://governance.aave.com/t/chaos-labs-monthly-community-update/11174)._