August 2023
Overview
This update highlights the past month’s activities and proposals and shares our planned work.
Highlights
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Following the Vyper Exploit and the ongoing discussions concerning the CRV market on v2 Ethereum, we continued to push the deprecation of the CRV market on V2 via a series of LT reductions. The deprecation plan approved by the community can be found here. In the days following the Vyper exploit, we published AIP-292 to reduce CRV LT by an additional 6% and AIP-293 to disable CRV borrowing on V3.
- Over the past month, the top account has repaid over 50M USDT and redeemed nearly 200M CRV as we continue to wind down the market.
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We launched the latest version of our Risk Portal, unifying the Chaos Labs Risk Hub, Asset Listing Portal, and Recommendation Portal into a single user interface. This unified platform simplifies the process of accessing recommendations along with supporting data and pertinent risk monitoring and alerting. Read more on our dedicated blog post, including a full product run-through here.
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We supported the recent launch of Base with initial parameter recommendations and integration of the deployment to our Risk Portal post-launch. As usage on Base grows, we will continue supporting with parameter optimization, supply and borrow cap recommendations, and new asset listings.
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The community has approved [ARFC] - Chaos Labs Scope and Compensation Amendment, to formally expand our scope of work to cover all of Aave, including V2 and GHO. We thank the community for this vote of confidence in Chaos Labs!
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We published the following proposals for risk parameter updates and new asset listings:
- [ARFC] Chaos Labs - Disable Borrows for CRV on V3 Ethereum and Polygon
- [ARFC] - Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum - 2023.07.10
- [ARFC] - Risk Stewards - Increase Supply and Borrow Cap on V3 Ethereum 08.09.2023
- [ARFC] sDAI Aave V3 Onboarding - co-authored with @MarcZeller
- [ARFC] wGHO Aave V3 Onboarding - co-authored with @MarcZeller
- [ARFC] Chaos Labs Risk Parameter Updates - Aave V3 Optimism - 2023.08.13
- [ARFC] CRV Aave V2 Ethereum - LT Reduction - 08.21.2023
- [ARFC] - Chaos Labs Risk Stewards - Increase Borrow Caps on V3 Ethereum - 08.22.2023
- [ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Ethereum - 2023.08.25
- [ARFC] Chaos Labs Risk Parameter Updates - Aave V2 Ethereum - 2023.08.09
- [ARFC] - Chaos Labs Risk Stewards - Increase Supply and Borrow Caps on V3 - 08.29.2023
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Provided analysis and supported the following proposals:
- [ARFC] Activate LUSD as Collateral on Aave V3 ETH Pool
- [ARFC] Aave V3 Deployment on Base
- ARFC: Gauntlet Supply Cap Updates for USDT on ETH Aave V3 2023-08-01
- [ARFC] Increase MaticX supply cap
- [ARFC] Supply Cap - stMATIC Polygon
- [ARFC] Supply Cap increase - wstETH
- ARFC: Gauntlet Borrow and Supply Cap Updates for Ethereum and Polygon Aave V3 2023-08-08
- GHO Stability Module Update
- [ARFC] Increase GHO Borrow Rate
- [ARFC] Enabling USDT as collateral on Aave v3 AVAX Market
- [ARFC] OP risk parameters update Aave V3 Optimism Pool
- [ARFC] Supply Cap increase - LSTs on Polygon V3
- [ARFC] Aave V3 Caps increase - 2023.08.31
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, GHO Steward, Liquidity Pools, 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
- Continuation of the V2 risk parameter updates to gradually reduce capital efficiency across V2 collateral assets. The AIP for the most recent proposal will be published shortly
- Continuous optimization of risk parameters on V3 deployments.
- Analysis and parameter recommendations for new assets and markets.