[Direct-to-AIP] Renewal of Umbrella Reward Allowances
Title: [Direct-to-AIP] Renewal of Umbrella Reward Allowances
Author: @TokenLogic
Date: 2025-11-28
Summary
This publication proposes renewing the Umbrella reward allowances to support continuing to distribute emissions at the current rate without any disruption to user positions.
Motivation
Umbrella was activated on the 5th June 2025 and is performing better than initially expected. Total deposits sit around $325M, well above the original target coverage of roughly $261.8M. The system is currently providing more protection than initially modelled, despite less bouyant market conditions.
Umbrella rewards are funded through allowances from the Aave Ethereum Collector. The initial Allowances and emission rate configuration anticipated to support 6 months duration post launch is due for renewal. Based upon the emission rate of the last 7 days and the remaining unassigned Allowance budget, GHO rewards are expected to require renewing before the 22nd December, with other assets requiring renewing at later dates.
Minimum End Date: When the Allowance would run out if unallocated rewards were emitted at the max emission per second rate, (above excess liquidity),
Expected End Date: When the Allowance would run out, if rewards were emitted at the past 7 day average emission per second rate.
This publication proposes renewing the Allowances supporting the continued uninterupted distribution of rewards to stakers at the same emission rate.
The charts below show:
- Initial Allowance (white);
- Amount of unallocated rewards (blue); and,
- Amount of unclaimed rewards (green).
The difference between the Blue and Green lines is the amount of Claimable rewards at that point in time.
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|---|---|
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Ref: Aave Analytics | TokenLogic
Specification
Upon implementation, the corresponding AIP will renew the reward allowances by extending the four Umbrella StakeTokens on Aave v3 Ethereum Core.
The new allowances are to be the sum of the amount not yet claimed plus the renewal allowance amount:
| Asset | Original Allowance | New Allowance |
|---|---|---|
| stkwaEthUSDC.v1 | 1,149,028 | remaining +1,149,028 |
| stkwaEthUSDT.v1 | 1,809,848 | remaining +1,809,848 |
| stkwaEthWETH.v1 | 271 | remaining +271 |
| stkGHO.v1 | 591,781 | remaining +591,781 |
No changes to emission rates, Target Liquidity, cooldown parameters, deficit offsets, or the Umbrella architecture are included within this proposal.
Disclosure
TokenLogic does not receive any payment for this proposal.
Next Steps
- Using the Direct-to-AIP process, submit an AIP for vote.
Copyright
Copyright and related rights waived via CC0.