Governance Weekly Recap [2024]

Governance
14

Week of April 8, 2024

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:ballot_box: Recent Proposals

  • weETH Onboarding
    • Summary: The proposal aims to integrate weETH, a Liquid Restaking Token, into Aave v3 on Ethereum, enhancing asset diversity and liquidity. This follows positive community feedback and detailed risk analysis. The proposal includes specific risk parameters and seeks further validation through a Snapshot vote before becoming an AIP.
    • Proposer: ACI
    • Status: AIP Passed
  • Native Bridge Adapters Update
    • Summary: The proposal seeks to enhance Native bridge adapters on the a.DI platform by adding additional naming metadata and refining gas limit settings for different network providers. This update is aimed at improving the functionality and interoperability of cross-network connections, supporting better infrastructure integration and customization for specific needs of bridge providers.
    • Proposer: BGD Labs
    • Status: AIP Passed
  • Onboard wbETH to Aave v3 BNB Chain
    • Summary: The proposal discusses onboarding wbETH, a Binance Liquid Staked ETH token, to Aave v3 on the BNB Chain to increase liquidity and asset variety. This step is expected to bolster Liquid Staked Tokens, which are key collateral types in Aave and significant drivers of ETH borrowing demand on the BNB Chain.
    • Proposer: ACI
    • Status: Snapshot Passed
  • Onboard sUSDe to Aave V3 on Ethereum
    • Summary: The proposal for onboarding sUSDe to Aave V3 on Ethereum, aimed at leveraging the stablecoin’s yield features, has passed the Snapshot vote. This move will now proceed to the next stages of approval, potentially increasing borrowing demand and adding robustness to Aave’s suite of assets on Ethereum. Further implementation will adhere to Aave’s stringent risk and stability protocols.
    • Proposer: ACI
    • Status: Snapshot Passed

:writing_hand: Forum Highlights

  • Chaos Labs Risk Oracles

    The proposal introduces Chaos Labs Risk Oracles to automate and optimize risk management in Aave’s network. This will allow for scalable, near-real-time adjustments of critical financial parameters such as supply and borrow caps and liquidation thresholds. The implementation involves off-chain analytics and on-chain updates, aiming to streamline operations and reduce manual interventions across Aave’s deployments.

  • “Merit is Forever” Reward System Program Extension

    The proposal seeks to extend the “Merit is Forever” reward system in Aave, allocating $20 million annually for the next 12 months to enhance Ethereum’s market share and support the GHO stablecoin. Building on positive outcomes from initial rounds, the system aims for increased engagement and benefits for participants, without changes to existing boosters or diluters, subject to ongoing DAO review.

  • Chaos Labs Market Alert - High Price Volatility and Liquidations

    The Chaos Labs Market Alert highlights extreme price volatility and high liquidation activity on April 13, 2024, particularly affecting Aave V2 and V3 deployments. Over the past 48 hours, significant price drops in major cryptocurrencies, including ETH and BTC, triggered widespread liquidations exceeding $65 million. The alert emphasizes the need for continued monitoring and potential adjustments to Aave’s risk management strategies in response to these market conditions.

:newspaper: Stakeholder News

:crystal_ball: Upcoming Votes

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