Governance Weekly Recap

Hi all - duncand from Boardroom here :wave:

Part of Boardroom’s mission is to increase informed participation in governance. In partnership with Aave Grants DAO, we are providing here a weekly recap of recent governance activity in the Aave community. This is intended to be complementary to Aave News as well as to Messari’s Aave Weekly, even with some overlapping content. While Aave News is inclusive of broader protocol news, and Messari’s update largely focuses on metrics, this recap will focus exclusively on governance (much like our coverage of Optimism governance here). We believe this will be useful for delegates and voters due to the often rapid pace of governance news and updates. When appropriate we’ll also note a few specific areas for action on timely subjects.

Within our weekly recap, we’ll provide a look back at:

  • Proposals
  • Governance changes
  • Impactful operating suggestions, and
  • Critical governance-related discussions across Discourse, Twitter, and Discord

The first recap will be posted today. We’d love to hear your feedback and any suggestions you might have. Feel free to DM to set up a time to chat!

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Week of September 12, 2022

Summary

Aave planned carefully for The Merge, which — very happily — finalized without major turbulence. Below we list proposals that were recently executed, as well as those that are in discussion — which together indicate a return to normal functioning for the protocol.

Proposals

Aave Improvement Proposals (AIPs):

  • Re-enable ETH Borrowing (101). This proposal, initiated by Gauntlet, re-enables ETH borrowing on the Aave v2 Ethereum market post Merge. It follows from AIP-97, which paused borrowing ahead of the Merge. The proposal was executed on September 17 and returns the Aave market to normal conditions. As the proposer notes in an update, “So far, market conditions are trending towards a healthy state post-merge.”
  • Add MaticX to Aave v3 Polygon Pool (100). This proposal, submitted by Llama, adds MaticX to the above mentioned pool. “MaticX is an ERC20 receipt token which represents staked MATIC and a portion of the staking rewards”; adding it to the Polygon pool allows Aave DAO “to benefit from the first mover advantage and provide an alternative to Lido’s stMATIC.” The proposal was executed on September 17.

Vote now on Snapshot: Whitelist Balancer’s Liquidity Mining Claim (discussion here).

:speaking_head: Provide your feedback on these Aave Requests for Comment (ARCs):

In the Forums

Harmony Horizon bridge exploit. @bgdlabs updates its thread about the effects of the exploit on the Aave V3 community. The update includes “key aspects of a potential execution” being discussed by the Recovery ONE committee.

Fantom freeze. bgdlabs confirms that “the Aave Guardian has approved the transaction to freeze Aave v3 Fantom, allowing only for withdrawals, repayments, and liquidations” — following from the Snapshot vote on the related proposal in August.

Here’s a delegate platform thread in which FranklinDAO (previously @PennBlockchain) indicates how they’ve voted, and why, on each proposal.

See other delegate platforms from @fig (Flipside Crypto), Llama, and @lucasvo in this category.

Grants awarded by the Aave Grants DAO in August have been summarized. The summary includes “detail on how [grantees] plan to help expand the Aave ecosystem along with some statistics on AGD in general, and key metrics achieved.”

Here’s an important update from bgdlabs on “Aave Governance. Adjust Level 2 requirements (long-executor),” which passed a Snapshot vote in July.

On Twitter

Aave News: Subscribe to Aave Grants DAO’s Aave News, which provides a weekly recap via Mirror and Substack.

Community calls: Follow aavegrants to hear when the next call will take place on Spaces. Notes on the last call are here.

In Discord

How much Aave do you need to vote?

Keep up to date in the dedicated governance channel.

Quick Gov Links: Governance FAQ | Governance Docs | Discord Governance Channel | Snapshot | AIPs | Aave on Boardroom

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thanks a lot for these recaps!

They’re very useful and easy to share with the community.

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Week of September 19, 2022

Summary

Welcome to Boardroom’s second weekly governance summary for the Aave community. See also Aave Grants DAO’s Aave News #67 and Messari’s Aave Weekly and quickly catch up on all that’s been happening.

Proposals

Risk Parameter Updates for Aave v2. This proposal, put forward by Gauntlet as part of their regular set of recommendations, seeks to adjust seven risk parameters in accordance with the “moderate risk level” and Risk Off Framework chosen by the Aave community in previous proposals. (Voting ends on September 27.)

Improve Governance Discussion and Voting Processes with Commonwealth. Blockchain at Berkeley partnered with Commonwealth to bring forward this proposal to move the Aave forums from Discourse to the Commonwealth platform, arguing that this change “will increase governance discussion, engagement, and transparency.” See discussion here. (Voting ends on September 27.)

Llama <> Aave. Llama has posted on updated proposal on Snapshot. Llama has a strong history of working with Aave on treasury management, partnerships, and analytics, among other things. These efforts were funded by Aave Grants DAO, which recommended that Llama move away from short-term funding to a more formal, longer-term relationship with Aave DAO. This proposal seeks to enact that idea, suggesting a twelve-month contract to provide services that focus on treasury management, analytics, and growth. The proposal states that Llama’s services will be complementary to the work of Bored Ghosts Developing (BGD) and Gauntlet, both of which also have existing relationships with Aave. The proposal includes a clause allowing Aave DAO to cancel the contract after six months if the community believes Llama’s performance to be sub-par. (Voting ends on September 28.)

Change Admin role of Optimism and Arbitrum V3 markets. This proposal, put forward by @MarcZeller, “intends to replace the community guardian [a 6/10 multisig of elected community members] in favor of Aave governance contracts for the administration of Arbitrum & Optimism V3 markets.” See discussion here. (Voting ends on September 30.)

:speaking_head: Vote now on Snapshot!

:speaking_head: Provide your feedback on these Aave Requests for Comment (ARCs):

  • Price manipulation implications for Aave v2. @pauljlei notes that “Recent price manipulation on exchanges, including GMX, may have market risk implications for Aave,” and asks for thoughts from the community.
  • Further comments on Chaos Labs’ “Risk Simulation & Platform Proposal.”
  • Add TRYB to Aave V3 on Avalanche Network, Isolation Mode. Discussion continues.
  • Robust frameworks for future deployments of Aave: This thread (which dates back to March), is updated by Gauntlet, which suggests a “governance process specifically for updating risk parameters on Avalanche.”

In the Forums

Harmony Bridge Exploit. Here’s an update on the recovery plan, posted by @HarmonyVillains.

Creation of Aave Africa Community. This is a funding request to support the AAVEA’s six-part mission, which includes increasing “awareness of AAVE blockchain and its use case in solving problems currently affecting Africa as a whole.”

New deployment of Aave v3 on Ethereum? @bgdlabs opens this discussion on the upgrade plan, noting tradeoffs.

The correction of an error in carrying out part of Aave v3 retroactive funding is noted by @AaveCompanies.

Confirmation: bgdlabs announces that “the Aave Guardian has executed the listing of BTC.b on Aave v3 Avalanche,” as previously approved by governance.

Here’s an analytics dashboard for the Aave community, created by Gauntlet.

Delegate platforms: Llama and FranklinDAO update their threads, explaining most recent votes.

Continuous formal verification: @MCERFSR posts Certora’s report for August.

On Twitter

19 Aave community members helped Certora with the Formal verification of Aave v3 token.

Set a reminder for Aave Grants’ AMA Twitter Space with iGain Finance, September 27 at 1PM GMT.

In Discord

The Harmony Recovery One team have put up a community proposal to “address the bridge incident.”

Is voting for a proposal on chain or off, and do we have to pay fees?

Quick Gov Links: Governance FAQ | Governance Docs | Discord Governance Channel | Snapshot | AIPs | Aave on Boardroom

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