FranklinDAO (Prev. Penn Blockchain) Delegate Platform

[ARC] Add MaticX to Polygon v3 Market

We voted YES: Stader Labs has proven itself to be a leading and trustworthy liquid staking platform in the past and we see no difference with matic. This new asset being added will be useful for future speculation and leveraged plays and will add much value to Aave as stETH did to mainnet.

Update: Changing vote to Abstain. Seeing the breaking news that Stader on Near, Nearx was hacked (forgot to check receiver is different than sender, something Blocksec and Halborn audits both missed), we wanted to step back and analyze how Stader tokens play out on different chains first. We strongly ask other delegates to consider this breaking news. @fig @MatthewGraham @Llamaxyz @lucasvo @Governance_House @MarcZeller

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Aave DAO Stance on Ethereum POW Fork

We voted FOR: This is a no brainer. We are excited to the next step in ETH’s lifecycle and look forward to the POS chain!

Asset Listing Framework (Market Risk) and Community Consensus Check

We voted Initial LTV of 0% is required: It’s always easier and safer to increase the LTV after a few months, or even weeks of good performance on Aave. It seems bold and a bit dangerous to immediately offer a high LTV. Starting with 0% as a “trial” period and slowly increasing it is something that we think is good practice and should happen in the future across the board.

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Add MAI to Aave V3 on Polygon

We voted YAE: A little tricky, but if MAI were to be added to any Aave network, it should be Polygon. Ultimately, we decided that the associated risks were justified with the extra TVL and revenue MAI would bring to Aave

Risk Parameter Updates for Aave V2 (2022-08-18)

We voted YAE: Following in line with Gauntlet’s recommendation, we see no reason to oppose.

Add LUSD to Aave V2

We voted YAE: A bit hesitant on this at first initially, but after discussions and careful consideration, we think a trial period on V2 with a 0% LTV “won’t hurt” as much as the extra income this pretty widely known stablecoin can bring.

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[ARC] Risk Parameter Updates for Ethereum Aave v2 Market &
[ARC] Ethereum v2 Reserve Factor - aFEI Holding Update

We voted YAE: This is a great point that we failed to consider originally. FEI is pretty much done, and as the protocol dwindles down, we need to reconsider having it on Aave. By readjusting the parameters as shown is a good precautionary move as the liquidity for the stablecoin slowly dwindles down. Further redeeming all positions in possible jeopardy into the underlying DAI is something we should do sooner than later.

FEI Risk Parameter Updates for Ethereum Aave v2 Market

Update 09/01: Voted YAE: In line with above reasoning

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Aave V3 Retroactive Funding

We voted FOR: This was easy. Paying people for their amazing work is important Aave v3 was just that. We need to compensate these individuals enough to stick around and think this should pass with ease.

Update: Voted YAE on the onchain vote as well!


Pause ETH Borrowing

We voted YAE: We believe the added revenue coming from 1-2 days of the increased ETH borrowing due to ETHW and ETHS farming won’t be worth the additional risk introduced in case moments after the split large price movements happen and liquidations aren’t able to happen.

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Add stMATIC to Aave v3 pool on Polygon

We voted YAE: Adding stMATIC by Lido is one of the safest yield generating options. stETH has been a great revenue driver for mainnet and adding this token with pretty much the same risk factors is very worthwhile in our opinion.

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[ARC] Add new KNC to Aave v2 and v3

We voted YES: Seeing nothing inherently wrong with the old KNC when it was up and running, adding the new KNC is something we support and think will add the similar benefits to Aave as the prior version.


Re-enable ETH Borrowing

We voted YES: By the time this proposal has passed, the ETH Merge has hopefully already passed and ETH should be re-enabled and Aave markets should go back to normal!


ARC: Improve Governance Discussion and Voting Processes with Commonwealth

We voted: Do Nothing

We’ve talked with the team at Commonwealth and are still in constant communication. For further insight, we’ve hopped on calls and gave pretty in-depth run throughs about our opinions on the product as a whole. Currently, we are still fans of Discourse but are open to changes and much of the general preference for discourse may be attributed to the incumbent advantage.

Overall, want to mirror some of @kydo’s points around implementation.

The team (George) has reached out to us on several occasions regarding showcasing our support for their various proposals to move to Commonwealth (compound prior) and our response was very much, we’d like to see how the community opines and will then vote in accordance with that general sentiment as this is a proposal that we think any community member should have the same impact on the final decision on as a large delegate persay.

In short, in its current form and the general uneasy sentiment, we are voting to do nothing now. If “hoards” of supporters come in and some questions are clarified, would 100% be open to changing our vote and testing new waters.

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Llama <> Aave

We voted YES: We support this proposal and like the budget cuts that have happened from the first draft to this final proposal. It’s evident that the team behind Llama is incredibly strong and the past work speaks for it self. As previously stated, we would like to see more data regarding hours of work, who’s on the team, etc. but as a whole think this is a pretty standard amount for the work given/promised.

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Risk Parameter Updates for Aave V2 (2022-09-22)

We voted YAE: Voting to implement the parameter changed recommended after careful risk analysis.

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[ARC] Increase supply cap for BTC.b on Avalanche V3 (Fast-track)

We voted YES: Following the standard fast track procedures as outlined in the forum post linked to the snapshot proposal. We’re looking forward to the increasing utilization of BTC.b on Avax and hope to soon increase other supply caps as well!

Ethereum v2 Reserve Factor - aFEI Holding Update

We voted YAE: Unfortunately as Fei continues to wind down, the protocol needs to take precautionary steps in order to make sure reserves are secured. Unwinding all aFei holding to Dai and then depositing into DAI reserve has pretty much no downside and helps hedge against any adverse effects of Fei dissolution.

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