Governance Weekly Recap [2024]

Governance Updates: Week of January 15, 2024

For the third week of 2024, there were significant movements in direction of new chains and assets. Below we have given a short description of the movements.

New Chains

NEON EVM: A Snapshot temp check recently ended with a majority support for deploying Aave V3 on NEON EVM. Neon is the Layer 2 blockchain built on top of Solana, offering an EVM Compatible option to the users of the Solana ecosystem. Snapshot Forum

Scroll: A Snapshot ARFC for deploying Aave V3 on Scroll mainnet passed hours before of writing this report. The vote resulted in majority support for the proposal. The initiative aims to leverage Scroll’s robust security, audits, and decentralized network, potentially expanding Aave’s influence in new markets. Snapshot Forum

Kava EVM: We have covered Kava proposal in the last week’s updates. But for the better understanding of the users, we have also listed its details here. Snapshot Forum


Key Updates

GHO Cross-Chain Strategy

The Aave community proposes the “ARFC GHO Cross-Chain Strategy” to integrate the GHO stablecoin across multiple blockchains via Chainlink’s CCIP. This strategy will enhance GHO’s liquidity, accessibility, and interoperability, addressing its limitation to the Ethereum mainnet and secondary markets. The proposal involves a lock/release and mint/burn model for cross-chain GHO transfers, controlled by Aave Governance. This move aims to make GHO more versatile and user-friendly, facilitating efficient transactions across various networks.

GSM Funding & RWA Strategy Preparations

Aave’s “ARFC Treasury Management - GSM Funding & RWA Strategy Preparations” proposal aims to prepare for the GHO Stability Module (GSM) launch and a $1M RWA strategy with Centrifuge. It outlines the need for more USDC and USDT on Ethereum v3 to support these initiatives. The proposal includes withdrawing and transferring stablecoins from Polygon to Ethereum, revoking legacy allowances, and swapping DAI and USDC to USDT to meet the required balances for GSM and RWA commitments.

Service Provider & Partner updates



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@wintermute Link
@lbsblockchain Link
@saucyblock Link
@stablelab Link
@tokenlogic Link
@event_horizon Link
@karpatkey Link