Governance Weekly Recap

Goldfinch is such an important part of the crypto ecosystem. Crypto’s promise to “bank the unbanked” is rarely even mentioned anymore. Yet Goldfinch has facilitated more than $100m of loans to SMEs regions with little banking coverage. Kudos to their team and fully supportive of this application, within the necessary risk parameters.

Concerns here are secondary market liquidity, which is currently often below $100k per 24hrs.

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Week of October 3, 2022

Summary

The critical Autonomous Proposal accumulated enough (320K AAVE) proposition power to execute, which meant that two proposals were initiated: The “vote boost” proposal (which succeeded), and the proposal to adjust Level 2 requirements (which is active). Read all about the process and its importance to Aave governance here.

:speaking_head: The second proposal needs to meet high quorum and differential thresholds. So go vote.

Process note: The most recent, always excellent Aave News is out. Going forward, we at Boardroom will be contributing to the governance news covered there. (We’ll still post here, just to make sure all bases are covered.)

Proposals

:speaking_head: Active Aave Improvement Proposals (AIPs):

  • Adjust Aave Governance Level 2 requirements (106).

Recently active Aave Improvement Proposals:

  • Use AAVE Ecosystem Reserve to vote YES on proposal to adjust Level 2 Governance requirements (107). This passed with nearly 100% voting “YAE.”
  • Ethereum v2 Reserve Factor - aFEI Holding Update (105) passed and was executed on October 9.
  • Llama <> Aave (104) passed and was executed on October 9.

On Snapshot:

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

  • Security and Agility of Aave Smart Contracts via Continuous Formal Verification. @shelly from Certora extends this proposal from a previous one, requesting a year-long commitment from Aave DAO at $2.7m, with an additional $400k suggested for fellowships and community grants for security engineers from the Aave community.

Ongoing requests for comment:

In the Forums

Aave Grants DAO has posted its September update, with details about budget, grantees, and events provided by @0xmigi.

Delegate platforms: See updates and voting rationales from Franklin DAO (@PennBlockchain).

On Twitter

Delegation at Aave: Everything you need to know, brought to you by @AaveGrants.

Real-time monitoring of Aave, thanks to Forta.

rAAVE in Bogatá.

Community call on October 24, 4PM GMT, featuring Stani, bgdlabs, Gauntlet, Llama, and more.

In Discord

Who manages the Aave treasury?

Do delegates get paid?

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

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Week of October 10, 2022

Summary

The proposal to Adjust Aave Governance Level 2 requirements passed — with just enough votes to meet quorum. Great work by @bgdlabs to figure this one out and help get it through. They remind us not to remove proposition power from the autonomous contract until the proposal is executed (~six days from now).

Here are the latest metrics from Messari, and be sure to check out Aave News this week.

Proposals

Aave Improvement Proposals (AIPs):

  • Whitelist Balancer’s Liquidity Mining Claim (109). “Balancer DAO seeks to retrieve around 1,500 stkAAVE from several Linear Pools.”

Recently active Aave Improvement Proposals:

  • Adjust Aave Governance Level 2 requirements (106). :fireworks: Succeeded with nearly 100% voting “for,” and is queued for execution in ~six days.
  • Risk Parameter Updates for Aave V2 ETH (108) succeeded with nearly 100% voting “for,” and was executed on October 14.

:speaking_head: Now on Snapshot:

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

  • Aave V3 Ethereum Deployment: Assets and Configurations. Following the community-approved decision to deploy a new Aave V3 Ethereum market (rather than upgrade V2), it’s “time for the community to make important choices around how to design V3 ETH’s initial market structure.”
  • Risk Parameter Updates for Aave V3 Avalanche: 2022-10-15. Here’s Gauntlet’s guidance, which is to adjust five parameters “to maintain the overall risk tolerance of the protocol while making risk trade-offs between specific assets.”
  • Aave v3 Polygon wMATIC Interest Rate Update. Llama proposes to update “wMATIC interest rate parameters on the Aave Polygon v3 Liquidity Pool.”

Requests for comment active this week:

In the Forums

LFGHO! An update on GHO from @AaveCompanies, including a technical paper.

Financial Report, Q3 2022 from @Llamaxyz.

Mango Markets and liquidity attack risk. @pauljlei says Gauntlet is analyzing risk to Aave v2 and v3 assets.

New delegate platform, from @lbsblockchain, a “student and professional society at the London Business School.” Check it out.

FEI security report. BGD Labs observed a problem when the FEI reserve factor was set to 100% (through a recent proposal, as part of the planned deprecation of the FEI market). Proposed solution included.

Network evaluation. BGD Labs provides a clear framework for the technical evaluation of networks seeking a deployment of Aave v3.

Karma forum plugin. @mmurthy explains how the Discourse plugin could help “streamline” delegate activity.

On Twitter

Llama Twitter Spaces on their work with Aave. Join the next one on October 19.

Gauntlet presents a case study: “Impact Measurement: Aave.

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

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Week of October 17, 2022

Summary

Lots of action with proposals — see below.

:speaking_head: There’s an Aave community call today, October 24 at 4PM GMT on Twitter Spaces.

Here are the latest metrics from Messari, and be sure to check out Aave News this week.

Proposals

Aave Improvement Proposals (AIPs):

  • Risk Parameter Updates for Aave Polygon Markets (2022-10-21) (112). This proposal to “take precautionary measures on the Aave Polygon markets” succeeded with nearly 100% voting “YAE.” This proposal (and the one just below) arose out this discussion on the forum. (A similar discussion was had on the Compound forums, leading to a proposal.)
  • Risk Parameter Updates for Aave V2 ETH (2022-10-21) (111). This proposal to “take precautionary measures on the Aave V2 Ethereum market, including parameter changes on six (6) assets on Aave V2” succeeded with nearly 100% voting “YAE.”

Recently active Aave Improvement Proposals:

  • FEI Reserve Factor Update (110). As part of the planned deprecation of FEI as a collateral asset, the Reserve Factor had been set to 100% in a previous proposal. Since then @bgdlabs has noticed that no variable borrow debt is being accrued and the fees for the Reserve Factor are not being directed to the Collector smart contract as they should be. BGD Labs is here proposing a temporary fix — setting the Reserve Factor to 99% — until the protocol itself can be updated to handle resetting to 100%. The proposal passed with nearly 100% voting “YAE” and was executed on October 23.
  • Whitelist Balancer’s Liquidity Mining Claim (109). “Balancer DAO seeks to retrieve around 1,500 stkAAVE from several Linear Pools.” This proposal passed with nearly 100% voting “YAE” and was executed on October 21.

:speaking_head: Now on Snapshot:

  • Risk Parameter Updates for Aave V3 Avalanche: 2022-10-15. Here’s Gauntlet’s guidance, which is to adjust five parameters “to maintain the overall risk tolerance of the protocol while making risk trade-offs between specific assets.”
  • Aave v3 Polygon wMATIC Interest Rate Update. Llama proposes to update “wMATIC interest rate parameters on the Aave Polygon v3 Liquidity Pool.”
  • Add TRYB to Aave V3 on Avalanche Network, Isolation Mode.

Requests for comment active this week:

In the Forums

Delegate platform udpates: From @Kene_StableNode, @fig, @lbsblockchain, FranklinDAO, and @Llamaxyz.

Continuous formal verification report for September, provided by @MCERFSR for Certora.

$GHST is a potential risk factor for Aave’s v3 Polygon deployment,” says @nonstopTheo on behalf of Risk DAO.

Aave v2 on zkSync 2.0 Testnet. @SA_Matterlabs proposes deployment.

On Twitter

Reminder: Community Call on Monday, October 24, 4PM GMT, with all the folks listed here.

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

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Thanks for all the updates. We will definitely try to follow summaries here :+1:

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Week of October 24, 2022

Summary

Happy halloween! :ghost:

Here are the latest metrics from Messari, and be sure to check out Aave News this week.

Proposals

:speaking_head:Now on Snapshot:

  • Deploy Aave V3 to zkSync 2.0 Testnet. FranklinDAO and Matter Labs jointly propose deployment of Aave V3 to zkSync 2.0’s testnet, saying that it would support “Aave’s multichain mission and expand cross-chain experiences.” The move could bring new users to Aave, and may increase activity on Aave as well since transaction costs are significantly lower on the rollup. When mainnet deployment becomes possible (and certain other criteria are met), another Snapshot will be posted. Forum discussion can be found here.
  • Security and Agility of Aave Smart Contracts via Continuous Formal Verification. Certora extends this proposal from a previous one, requesting a year-long commitment from Aave DAO at $2.7m. The additional $400k suggested for fellowships and community grants for security engineers has been pulled from the request. See the full discussion here.

Recently on Snapshot

  • Add Login With Unstoppable as an option to the wallet connect dialog of the Aave app. Unstoppable Domains, which issues human-readable blockchain domains, here proposes to add an Unstoppable login to the Aave app — suggesting that this will bring more users to the protocol. Just over 55% voted “Nay.”

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

  • [ARC] Add Support for cbETH. This proposal seeks to add cbETH (Coinbase Wrapped Staked ETH) to Aave on Ethereum. It presents cases for deployment on V2 (LTV 0%) or V3 (parameters tbd), with the community to decide via Snapshot.
  • ARC: Staked ATokens, A New Aave Primitive Exploring Vote-Escrow Economies. @AaveCompanies seeks community feedback on creating this new primitive: Adopting it, “Aave DAO Treasury could generate revenue from staking rewards…[and] allow the Aave DAO Treasury to participate in the veToken economy and attract additional users.”
  • [ARC] - ERC4626 Strategies as Productive Collateral. This proposal, from @Llamaxyz and @MatthewGraham, is similar (and complementary?) to the one from AaveCompanies above: The proposal involves “the introduction of a new productive collateral type that allows users to earn the rewards of other protocols by depositing into Aave v3 Reserves,” while generating additional revenue for the Aave DAO.
  • [ARC] - Add support for BADGER on Aave V3. This proposal requests that the BADGER token be onboarded onto Aave V3 Ethereum. Badger DAO is “focused on building the products and infrastructure necessary to accelerate the growth of Bitcoin in Decentralized Finance across multiple blockchains.”
  • [ARC] - Integrate Coin98 Wallet into the Aave App. A proposal to integrate with this non-custodial wallet, making Aave available on the Coin98 mobile app.

In the Forums

Aave <> Starknet Phase 1 project has been completed, says @eboado, who gives a full recap of what has been done.

Envoy proposal alerter. @lbsblockchain has created a tool to track proposals.

Karma forum plugin. Is the community interested in this open source plugin to “streamline delegate activity” and surface governance info?

Discursive health of DAOs. Here’s a brief research survey to complete, about governance.

Interest rate parameters. Gauntlet is preparing to support interest rate parameters, and initiates discussion of curve mechanics in this thread.

GHO development cost. MatthewGraham asks AaveCompanies if they are planning to request retroactive payment for developing GHO — so that a proper analysis of the DAOs runway can be conducted. In future, he asks the team to detail “scope of work, timeline and KPIs” for major projects.

Messari now covers Aave in their Governor product, as announced by @raho.

On Twitter

There was a community call on Twitter Spaces last week, which was great — here’s the full summary from @0xmigi.

In Discord

“How do you think anon forums would impact the quality of forum discussions?”

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

4 Likes

Week of October 31, 2022

Summary

It’s been especially busy with requests for comment — lots of ideas being put forward. See below.

And: the latest metrics from Messari, and last week’s Aave News (new one coming up).

Proposals

Aave Improvement Proposals:

  • Chaos Labs Risk Platform Proposal (113). Passed with nearly 100% voting “YAE,” and is queued for execution.

:speaking_head: Now on Snapshot:

  • ERC4626 Strategies as Productive Collateral. Llama here proposes the introduction of new collateral type that will allow “users to earn the rewards of other protocols by depositing into Aave v3 Reserves.”

Recently on Snapshot:

  • Staked ATokens, A New Aave Primitive Exploring Vote-Escrow Economies was approved by nearly 100% of voters on November 5.
  • Deploy Aave V3 to zkSync 2.0 Testnet was approved by nearly 100% of voters on November 2.
  • Security and Agility of Aave Smart Contracts via Continuous Formal Verification was approved by nearly 100% of voters on November 3.

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

  • Gauntlet <> Aave Renewal. A proposal to renew the twelve-month engagement, which expires in December.
  • Risk Parameter Updates for Aave V2 ETH and Aave Arc (Fireblocks) 2022-11-03. Gauntlet recommends no parameter changes this week.
  • ETH Interest Rate Curve Update. A proposal “to amend ETH interest rate parameters on the Aave Ethereum v2 and Ethereum v3 (when deployed) Liquidity Pools.”
  • LDO Emission_Admin for Polygon V3 Liquidity Pool. @llamaxyz “proposes amending the Emission_Admin address to enable the distribution of LDO rewards.”
  • BAL Interest Rate Curve Update. Llama proposes “to amend BAL interest rate parameters and enable borrowing of BAL on the Aave Ethereum v2 Liquidity Pool.” Be sure to follow the discussion as the proposal evolves.
  • Add OP as Collateral to Aave V3. Gauntlet is analyzing.
  • Add Support for BADGER on Aave V3. Discussion continues.
  • Aave V3 Delployment: Assets and Configurations. A new comment about Index Coop’s DeFi Pulse Index, by @funkmasterflex.
  • Add Support for cbETH. Some more comments in the discussion.
  • Harmony One. Should Aave participate in the recovery process?

In the Forums

Aave Grants DAO presents the October update, courtesy of @0xmigi.

Gauntlet analyzes market risks of listing LP tokens as collateral (see here and here).

Here’s the update for month one, from Llama.

Delegate updates from @Kene_StableNode, @PennBlockchain, and @lbsblockchain, explaining votes.

Should we deploy Aave V3 on BNB chain?

For discussion, from @monet-supply: adjust stablecoin rate parameters on Aave V2 Ethereum.

On Twitter

Aave News recap in a thread.

J.P. Morgan used a “modified version of Aave” to execute its first live trade in DeFi.

Voting block delay. A reminder from @bgdlabs that voting opens 7200 blocks after proposal creation. (This from the changes coming from proposal # 106.)

In Discord

Where should I have AAVE to participate in governance?

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

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Week of November 7, 2022

Summary

Another long recap this week — which seems somehow appropriate, given everything.

Here’s last week’s Aave News (new one coming up soon) and metrics from Messari.

Proposals

Aave Improvement Proposals (AIPs):

  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-13)(119). This proposal freezes the BAL market on Aave V2 ETH in light of recent market volatility, as recommended by Gauntlet “out of an abundance of caution.”
  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-13) (118).This proposal freezes the CVX market on Aave V2 ETH in light of recent market volatility, as recommended by Gauntlet “out of an abundance of caution.”
  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-12) (117). This proposal freezes the REN market on Aave V2 ETH in light of recent market volatility, as recommended by Gauntlet “out of an abundance of caution.”
  • Add OP as Collateral to Aave V3 (116). As the title indicates, this proposal seeks to add OP as a collateral asset on Aave V3 Optimism — following a Snapshot vote in August in which almost 100% voted “YAE.” Risk parameters are noted in the proposal (though they are changed from the Snapshot proposal), and the Optimism Foundation offers to “seed incentives” to help build the liquidity pool. This would present a powerful use case for OP outside of governance. However, the proposal was put forward before Gauntlet was able to provide its risk analysis, which many say is especially important at this time.
  • Strategic Partnership with Balancer DAO Part 2 - 100k BAL Acquisition (115). This proposal is intended to complete the second part of Aave’s plan to acquire 300k BAL, which goes toward a strategic partnership long in the works. (Part 1 was accomplished through a token swap in July.) The ultimate goal is to support the growth of the Aave ecosystem, and veBAL presents “numerous opportunities” — including those put forward in two recent proposals (here and here). This proposal will allow for the on-market acquisition of 100k BAL by deploying a Bonding Curve contract. The proposal passed with 100% voting “YAE” and was executed on November 13.
  • Certora Continuous Formal Verification (114). This is the on-chain implementation of a recently passed Snapshot proposal in which Certora proposed to “improve the security of smart contracts built on top of Aave using a combination of formal verification and manual code review,” something which it has already been contracted to do for the DAO over the past six months. This proposal lays out the details of what Certora has accomplished and what it intends to do, offering to extend their previously established relationship by requesting a year-long commitment from Aave DAO at $2.7m. The proposal passed with 100% voting “YAE” and was executed on November 13.

Recently on Snapshot:

  • ERC4626 Strategies as Productive Collateral. Llama here proposes the introduction of a new collateral type that will allow “users to earn the rewards of other protocols by depositing into Aave v3 Reserves.” The proposal passed with 76.22% voting “YAE.”

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

  • Aave V3 Deployment: Assets and Configurations. Gauntlet presents a table of options, and may soon initiate a Snapshot vote.
  • [ARC] Implementing a GHO Backstop for Aave. “B.Protocol would like to propose Aave DAO add a user-based backstop for GHO that will enable safer and more robust liquidation mechanics that can ensure peg stability also for less liquid collaterals as well as during radical market conditions.”
  • [ARC] stMATIC Emission_Admin for Polygon v3 Liquidity Pool. @llamaxyz proposes “assigning the stMATIC Emission_Admin role on the Aave v3 Polygon Liquidity Pool to a Gnosis Safe controlled by the Polygon Foundation.”
  • [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool. Llama proposes “amending the Emission_Admin address to enable the distribution of LDO rewards.”

In the Forums

Market downturn: @pauljlei from Gauntlet presents an analysis — followed by three AIPs for REN, CVX, and BAL (see above).

Financial report for October 2022, from Llama.

Delegate platform updates from FranklinDAO and @lbsblockchain.

Messari Governor Note re staked aTokens. Check out the write-up by @tnorm.

Harmony recovery. Discussion continues.

Alternative UI for non-DeFi users. @Sejal from DAOLens requests feedback on some ideas.

New governance UI? @D3Portillo from Radish makes a proposal.

Roadmap update from @OriN of Chaos Labs, following their successful governance proposal.

On Twitter

What crypto needs: Community governance, and more ungovernance, says @StaniKulechov

Aave IPFS UI: Improving state Management.

In Discord

Looking for feedback: @nonstopTheo requests some thoughts about how “we get standardized trade volume stats for asset onboarding + risk mgmt.” (See forum post here.)

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

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Week of November 14, 2022

Summary

Here’s Aave News #75 and Messari’s weekly report.

Proposals

Aave Improvement Proposals (AIPs):

  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-13)(119). This proposal passed with 100% voting “YAE” and was executed on November 18.
  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-13) (118). This proposal passed with 100% voting “YAE” and was executed on November 18.
  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-12) (117). This proposal passed with 100% voting “YAE” and was executed on November 17.
  • Add OP as Collateral to Aave V3 (116). This proposal received 74% “NAY” votes and failed on November 14. (See discussion here for why.)

:speaking_head: Now on Snapshot:

  • Gauntlet <> Aave Renewal. A proposal to renew the twelve-month engagement, which expires in December.
  • [ARC] ETH Interest Rate Curve Update. @Llamaxyz here proposes to “amend” the interest rate curves on Aave V2 Ethereum and Aave V3 Etheerum (which will soon be deployed).
  • [ARC] SD Emission_Admin for Polygon v3 Liquidity Pool. Llama proposes “assigning the SD Emission_Admin role on the Aave v3 Polygon Liquidity Pool to a Gnosis Safe controlled by the Stader Labs.”
  • [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool. Llama proposes “amending the Emission_Admin address to enable the distribution of LDO rewards.”
  • Strategy on sunset of Aave v1. Since Aave V2 and V3 are already in existence, BGD Labs here asks for community feedback on how best to sunset Aave V1 (Ethereum and AMM).
  • Aave V3 Deployment: Assets and Configurations. Gauntlet presents a table of options.

Recently on Snapshot:

  • [ARC] Risk Parameter Updates for Aave V2 ETH 2022-11-17. This proposal sought to adjust two parameters (liquidation threshold, loan to value) of REN. It passed on November 21 with 99% voting “YAE.”

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

  • [ARC] Integrate Coinbase Pay into the Aave app. This proposal from @AndrewA of Coinbase Cloud would “allow Aave users to utilize their saved Coinbase payment methods and crypto balances to quickly add crypto to their self custody wallets linked to Aave.”
  • [ARC] Uniswap V3 NFT as Collateral for minting GHO. This is a proposal from @harshpandey for “a GHO Facilitator which accepts Uniswap V3 NFT (LP positions) as collateral and permits minting and burning GHO tokens when borrowing/repaying and getting liquidated.”
  • [ARC] Discussion: V2 → V3 Migration & V2 Deprecation Plan. This proposal from @oneski22 “presents the community with the opportunity to accelerate the migration of capital from several of the legacy V2 markets to the newer, more secure V3 markets.”
  • [ARC] Implementing a GHO Backstop for Aave. Discussion continues.

In the Forums

Delegate platform updates from FranklinDAO and @lbsblockchain.

Certora post continuous formal verification report for October.

On Twitter

Claim your Aave Grants DAO NFT.

The actual Aave treasury and reserve amounts.

A Twitter list of Aave Grants grantees.

DAOLens receives a grant to create a new governance UI for Aave.

In Discord

Ever surprised by proposals popping up at unexpected times? Get notifications from the #governance channel bot, which tracks both proposal submissions and governance posts in the forum.

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

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Week of November 21, 2022

Summary

An especially turbulent week for Aave, but one which reveals the strength of DeFi and the advantages of DAOs. There’s one forum thread in particular that captures a wide range of strategies, approaches, and attitudes among those participating in the DAO — and it spawned a host of governance proposals (see below).

Check out Aave News #76, and Messari’s Aave Weekly Report.

Proposals

Aave Improvement Proposals (AIPs):

  • Risk Parameter Updates for Aave v2 Polygon (126). Llama and Chaos Labs here jointly propose to make parameter changes to the Aave V2 Polygon Liquidity Pool, “[i]n response to recent market events and the resulting discussion on the Aave governance forum.”
  • Risk Parameter Updates for Aave v2 Ethereum Liquidty Pool (125). As above, Llama and Chaos Labs here propose parameter changes “in response to recent market events.” It is presented as an alternative to AIP-121 (see below), and also results from discussions in the forum.
  • Risk Parameter Updates for Aave V2 Polygon (124). This proposal passed with 100% voting “YAE” and is queued for execution.
  • Pause UNI Borrowing (123). This proposal passed with 100% voting “YAE” and was executed on November 27.
  • Pause LINK Borrowing (122). This proposal passed with 100% voting “YAE” and was executed on November 27.
  • Risk Parameter Updates for Aave V2 ETH Market (2022-11-22) (121). This proposal passed with 100% voting “YAE” and was executed on November 27.
  • Risk Parameter Updates for Aave V2 (2022-11-17) (120). This proposal passed with 100% voting “YAE” and was executed on November 26.

On Snapshot:

  • Activation of a ParaSwap fee claimer contract. BGD Labs proposes “to deploy a smart contract to automate fee collection from the Aave <> ParaSwap features.”
  • Risk Parameter Updates for Aave V3 AVAX 2022-11-23. This proposal “to set borrow caps on FRAX, MAI, and LINK on Aave V3 AVAX” passed on November 25 with 100% voting “YAE.”
  • [ARC] V3 Supply Cap Recommendations for Uncapped Assets (Fast-track). This fast-track proposal recommends supply caps for currently uncapped V3 assets. It passed on November 25 with nearly 100% voting “YAE.”

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

  • [ARFC] Aave DAO Policy Change: Halt Listings on all Aave v1 & v2 Non Permissioned Deployments. A request “to adopt a policy of halting listings.”
  • [ARC] Repay excess debt in CRV market for Aave V2 ETH. Llama and Gauntlet propose to cover the bad debt from the recent exploit with Gauntlet’s insolvency refund and the DAO treasury.
  • ARC: Onboard Gamma Strategies’ USDC/GHO Uni v3 Collateral to Mint GHO. This proposal is to use “Gamma Strategies’ GHO-USDC LP position on Uniswap v3 as collateral, utilizing Gamma’s infrastructure.”
  • [ARC] Uniswap V3 NFT as Collateral for minting GHO. Discussion continues.

In the Forums

Reducing long tail asset risk. A discussion initiated by @monet-supply.

Delegate platforms. Updates from @Kene_StableNode and @lbsblockchain.

Pricing mechanisms. BGD Labs provides some “visibility” about the pricing mechanisms of assets (like WBTC) in Aave.

Support for cbETH. Certora provides formal verification of the token’s code.

Improve permissions management. @bgdlabs opens a discussion about the “idea of having faster levers…to change non-invasive risk configurations, in order to react swiftly under urgent circumstances.”

On Twitter

Running thread on the series of Aave proposals, by @AaveGrants

The community can choose its path forward, @Matthew_Graham_ reminds us.

What does it mean to freeze an asset? by @lemiscate.

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

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Week of November 28, 2022

Summary

Lots of risk-related actions and discussions over the past week, and several important risk-related discussions and decisions ahead.

Proposals

Aave Improvement Proposals (AIPs):

  • Aave StarkNet Phase I - Aave <> StarkNet Bridge deployment/activation by Aave governance (127). Aave hopes to expand to StarkNet, a “validity” or “ZK” rollup, and this proposal presents the first step in doing so, beginning with creating “a bridge of Aave v2 Ethereum aTokens from/to StarkNet.” The proposal passed with almost 100% voting “YAE” and is queued for execution.
  • Risk Parameter Updates for Aave v2 Polygon (126). This proposal failed on November 30 because it did not reach quorum.
  • Risk Parameter Updates for Aave v2 Ethereum Liquidty Pool (125). This proposal succeeded with almost 100% voting “YAE” and was executed on November 30.

On Snapshot:

  • [ARFC] Aave DAO Policy Change: Halt Listings on all Aave v1 & v2 Non Permissioned Deployments. The crux of this proposal is that it “advocates only enabling future asset listings to occur on Aave v3 deployments”; if the proposal were to pass, no new assets could be added to Aave v2. This would effectively begin the transition from v2 to v3. The sunsetting of Aave v1 has been actively discussed on the Aave forums since late August, while discussions of the migration from Aave v2 to v3 (and the subsequent deprecation of v2) have been active since mid November of this year. Several key players in the Aave DAO are now urging the community to find ways begin to close off the v1 and v2 markets so that usage of the much less risk prone Aave v3 will increase.
  • Activation of a ParaSwap fee claimer contract. This proposal passed on November 29 with over 99% voting to approve.

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

  • [ARC] Interest Rate Curve Changes for Aave v2 ETH. Gauntlet proposes to change interest rate parameters and reserve factors for USDT and TUSD. “Many interest rate curves on Aave have not changed for a long time and, in the case of some assets, have never been updated for the lifetime of the asset listing.”
  • [ARFC] Ethereum v2 Collector Contract Consolidation. A proposal from @llamaxyz to consolidate “the Aave v2 Collector Contract holdings by swapping a portion of the long tail assets to USDC and redeeming assets from the Aave AMM deployment.”
  • [ARC] Risk Parameter Updates for Aave v2 Ethereum - LT and LTV (2022.12.01). Chaos Labs proposes to “adjust 4 total risk parameters, including Liquidation Threshold (LT) and Loan-To-Value (LTV), for USDC and DAI markets.”
  • [ARC] Repay excess debt in CRV market for Aave V2 ETH. Discussion continues.

In the Forums

Add OP as collateral to Aave v3. @pauljlei provides the market risk assessment.

Oracle analysis. @OriN from Chaos Labs looks at BTC vs. WBTC as part of a longer discussion about pricing mechanisms.

Llama month 2. Updates from the team.

All the Q4 risk-off measures, summarized by Gauntlet.

Improve permissions management. This discussion continues with several new contributions.

More on real-world assets. @Puniaviision notes that Goldfinch will hold a Twitter Space on the subject on December 14.

Delegate platform updates from @lbsblockchain, Flipside Crypto, and the Aave Chan Initiative.

On Twitter

Aave v3. A bit of history and appreciation from Stani.

All the recent risk-off measures. @gauntletnetwork compiles them.

Aave News #77 dropped.

Vitalik on governance rights and token value.

Happy birthday beacon chain!

In Discord

What’s the difference between a Snapshot vote and an AIP?

Who carries out the changes decided by governance?

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

3 Likes

Week of December 5, 2022

Summary

Lots of proposals before the Aave community of late. Two very recent ones failed to reach quorum despite apparent support. Is it the weekend?

Proposals

Aave Improvement Proposals (AIPs):

  • Freeze Aave V1 (129). This proposal failed to reach quorum on December 11.
  • Set LDO, stMATIC, MaticX and SD Emission_Admin for Polygon v3 Liquidity Pool (128). This proposal failed to reach quorum on December 10.
  • Aave StarkNet Phase I - Aave <> StarkNet Bridge deployment/activation by Aave governance (127). This proposal passed with nearly 100% voting “YAE.”

:speaking_head: On Snapshot:

  • [ARFC] Receipt of Gauntlet Insolvency Fund. @llamaxyz proposes that “Gauntlet’s Insolvency Fund be transferred to the Aave Ecosystem Reserve in the form of AAVE tokens.”
  • [ARFC] Ethereum v2 Collector Contract Consolidation. Llama proposes to consolidate “the Aave v2 Collector Contract holdings by swapping a portion of the long tail assets to USDC and redeeming assets from the Aave AMM deployment.”
  • [ARFC] Repay Excess CRV Debt on Ethereum v2. Llama proposes “sourcing CRV for the purpose of repaying the excess debt in the CRV Reserve on the Ethereum v2 liquidity pool.”
  • Risk Parameter Updates for Aave v2 Ethereum - LTs and LTVs for Long Tail Assets. This proposal passed on December 11 with nearly 100% voting “YAE.”
  • Risk Parameter Updates for Aave v2 Ethereum (DAI LT and LTV). This proposal passed on December 10 with nearly 100% voting for “300bps LT decreases & LTV 75%.”
  • Risk Parameter Updates for Aave v2 Ethereum (USDC LT and LTV). This proposal passed on December 10 with nearly 100% voting for “150bps LT decrease & LTV 80%.”
  • V3 Borrow Cap Recommendations (Fast track). This proposal passed on December 8 with nearly 100% voting “YAE.”
  • [ARFC] Aave DAO Policy Change: Halt Listings on all Aave v1 & v2 Non Permissioned Deployments. This proposal passed on December 9 with nearly 100% voting “YAE.”

:speaking_head: Provide your feedback on these Aave Requests for Comment:

  • [ARFC] Aave v3 on Ethereum - Create eMode Categories. Llama proposes deploying Aave v3 on Ethereum “with two initial eMode Categories”: stabelcoin correlated, and Ethereum correlated.
  • [ARC] Add wstETH to Aave v3 on Optimism. A proposal from the Lido DAO to “add wstETH to the Optimism V3 Liquidity Pool.”
  • [ARC] Integrate Trust Wallet into the Aave App. This proposal hopes “to get the Trust Wallet connection point in the default connection modal” on both mobile and desktop.
  • [ARC] Aave v3 Polygon wMATIC Interest Rate Update. Llama picks up the discussion again.
  • [ARC] Freeze RENFIL for Aave V2 ETH Market. Discussion continues.

In the Forums

Aave <> Chainlink proof or reserve. BGD Labs lays out their “phase 1 release candidate.”

Governance framework for alternative chain proposals. This discussion is revived “one last time” before going to Snapshot.

Risk council discussions continue, with specific members / entities suggested.

Delegate platform updates from @lbsblockchain, FranklinDAO, and @MarcZeller

ARC or ARFC. Which one is it?

Redeem, consolidate, redeploy. Llama wants to discuss “Aave’s assets held within the Polygon v2 Collector Contract and v3 Treasury addresses.”

Gauntlet <> Aave. Intensive discussion continues after the contract renewal Snapshot failed.

ThunderCore. Here’s a proposal to deploy Aave on the EVM compatible chain.

On Twitter

Aave Grants applauded by Gitcoin for exemplifying best practices.

Aave News #77 in all its forms. #78 is out too.

In Discord

:speaking_head: Remember you can follow the #governance bot channel in Discord to be alerted when new Snapshot votes and governance forum threads are posted.

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

3 Likes

Week of December 12, 2022

Summary

Lots of proposals coming through, as usual of late. A couple of these are re-submissions of proposals that failed to meet quorum. @fig posts here with some ideas about how to address that issue.

@bgdlabs has posted an update on the status of the Aave v3 Ethereum release.

Proposals

Aave Improvement Proposals (AIPs):

  • Freeze Aave V1 (132). This has been resubmitted after failing to reach quorum.
  • Aave v2 ETH Interest Rate Curve Update (131). This proposal to amend “the ETH interest rate parameters on the Aave Ethereum v2 and v3 Liquidity Pool” was executed on December 18 after 100% voted “YAE.”
  • Set LDO, stMATIC, MaticX and SD Emission_Admin for Polygon v3 Liquidity Pool (130). This proposal was resubmitted and executed on December 17 after 100% voted “YAE”.

:speaking_head: On Snapshot:

  • [ARFC] BAL Interest Rate Curve Update. Llama proposes to “amend BAL interest rate parameters on the Aave Ethereum v2, Ethereum v3 (when deployed), Polygon v3 and Polygon v2 Liquidity Pools.”
  • [ARFC] Aave v3 Polygon wMATIC Interest Rate Update. Llama proposes to “amend the wMATIC interest rate parameters on the Aave Polygon v3 Liquidity Pool.”
  • Authorise the release of Aave <> Chainlink Proof of Reserve for Aave Avalanche. This proposal “authorises BGD to proceed with the release of Aave <> Chainlink Proof of Reserve Phase 1, targeting Aave v2 & v3 Avalanche.”
  • [ARC] Updated: Gauntlet <> Aave Renewal. This is a revised proposal to continue the engagement for “continuous market risk management.”
  • [Temp Check] Deploy Aave on Metis. This is a proposal to deploy Aave on the EVM equivalent L2.
  • [ARFC] Aave DAO Policy Change: Halt Listings on all Aave v1 & v2 Non Permissioned Deployments. This proposal was resubmitted and passed on December 17 with nearly 100% voting “YAE.”
  • [ARFC] Receipt of Gauntlet Insolvency Fund. This proposal passed on December 16 with almost 93% voting “YAE.”
  • [ARFC] Ethereum v2 Collector Contract Consolidation. This proposal passed on December 16 with almost 100% voting “YAE.”
  • [ARFC] Repay Excess CRV Debt on Ethereum v2. Almost 66% voted to “use USDC to acquire CRV” on December 16.

:speaking_head: Provide your feedback on these Aave Requests for Comment:

  • Update renFIL Interest Rate Strategy on Aave v2 Ethereum. BDG Labs says that “the offer/demand dynamics for renFIL” have been “disturbed,” and “recommend lowering to the minimum the parameters of the interest rate strategy, to not accumulate extra growth of renFIL on the borrowing side.”
  • Chaos Labs <> Aave v2 Coverage. @ChaosLabs proposes “to expand the scope of its engagement with Aave to include proactive risk analysis and management of the v2 markets while encouraging and supporting a safe migration to the upcoming Ethereum v3 deployment.”
  • [ARC] Aave v3 Polygon wMATIC Interest Rate Update. Discussion continues.
  • [ARC] Freeze RENFIL for Aave V2 ETH Market. Current situation explained by BGD Labs.

In the Forums

Delegate platforms are updated for Aave Chan Initiative, @PennBlockchain, StableNode, Flipside, and @lbsblockchain.

Aave runway analysis, provided by @Llamaxyz as of November 2022.

Financial Report for November 2022. Provided here by Llama.

Continuous formal verification report, provided by Certora for November 2022.

More thoughts on the risk council “problem space” for Aave.

E-mode pages have been added to Gauntlet’s Aave v3 risk dashboard.

On Twitter

Fake Aave account, watch out. Thanks to Marc Zeller.

Llama provides updates on their work with Aave in The Ranch. Updates also available via a recent Spaces event.

How Aave can leverage real-world assets, with Goldfinch.

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

1 Like

Week of December 19, 2022

Summary

Eleven proposals passing through governance this week. :smiling_face_with_tear:

Proposals

Aave Improvement Proposals (AIPs):

  • Supply/Borrow Cap Updates for Aave v3 (138). Passed with 100% voting “YAE” and was executed on December 25.
  • Risk Parameter Updates for Aave v2 Ethereum - LT and LTV (DAI, USDC) (137). Passed with 100% voting “YAE” and was executed on December 25.
  • Risk Parameter Updates for Aave v2 Ethereum - LTs and LTVs for Long Tail Assets (136). Passed with 100% voting “YAE” and was executed on December 25.
  • Rewards controller update across V3 pools (135). Passed with 100% voting “YAE” and was executed on December 25.
  • Update renFIL rate strategy on Aave v2 Ethereum (134). Passed with almost 100% voting “YAE” and was executed on December 25.
  • Gauntlet <> Aave Renewal (133). Passed with almost 77% voting “YAE” and was executed on December 24.
  • Freeze Aave V1 (132). Passed with 100% voting “YAE” and was executed on December 24.

:speaking_head: On Snapshot:

  • Chaos Labs - Aave v2 Coverage. Proposal passed on December 24 with nearly 100% voting “YAE.”
  • [ARFC] BAL Interest Rate Curve Update. Proposal passed on December 23 with over 77% voting “YAE.”
  • [ARFC] Aave v3 Polygon wMATIC Interest Rate Update. Proposal passed on December 23 with nearly 100% voting “YAE.”
  • Authorise the release of Aave <> Chainlink Proof of Reserve for Aave Avalanche. Proposal passed on December 22 with nearly 100% voting “YAE.”

:speaking_head: Provide your feedback on these Aave Requests for Comment:

In the Forums

Aave Grants DAO presents updates — and proposes a renewal of funding.

Delegate platform updates from @lbsblockchain, Flipside, @Kene_StableNode, FranklinDAO, and @MarcZeller (Aave Chan Initiative).

Chaos Labs Monthly Community Update.

Radish <> Aave. This discussion about a new governance UI is taken up again by @Oxkis.

Guided education: five steps for Aave.

On Twitter

Last Aave News of 2022 coming up.

Verified and published reports on recent proposals, by @bgdlabs.

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

1 Like

Week of December 26, 2022

Summary

Happy New Year to all :fireworks:. Hope everyone had a chance to rest up. It was a quiet week on the proposal and discussion front.

Proposals

:speaking_head: On Snapshot:

:speaking_head: Provide your feedback on these active Aave Requests for Comment:

  • [ARC] Unfreeze Ampleforth for Aave v2 Market. Request posted here, but perhaps should be directed towards v3.

In the Forums

Rescue of locked tokens on Aave. BDG Labs is working on it carefully.

Five steps for Aave guided education. @D3Portillo adds some thoughts.

Aave Grants DAO recent work update for November, from @0xmigi.

Aave Grants DAO renewal. @0xbilll provides a thorough response to questions.

Check out the alternative UI for Aave and provide some feedback.

On Twitter

A look back at some of the year’s highlights, courtesy of @AaveAave.

Here’s the last Aave News of 2022.

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

1 Like

Week of January 2, 2023

Summary

Highlight: the important discussion concerning the launching of Aave V3 Ethereum continues here.

Proposals

:speaking_head: Aave Improvement Proposals:

  • Risk Parameter Updates for Aave V3 Optimism Market (2022-12-29) (140). This proposal succeeded on January 9th with nearly 100% voting “YAE.” See the discussion here, which includes explanations of differing methodologies regarding risk assessment/management.
  • Chaos Labs V2 Coverage (139). This proposal succeeded on January 6th with 100% voting “YAE.”

:speaking_head: On Snapshot:

  • [Updated] Aave Grants DAO Renewal. A proposal to renew AGD for two quarters at $1.625m per quarter. See the engaging discussion here.
  • Approve pricing approach for WBTC on Aave. This poll ended on January 9th with 79.86% voting to change the pricing model to use WBTC-based feeds.
  • [ARC] Risk Parameter Updates for Aave V3 Optimism 2022-12-29. This proposal passed on January 2 with 82.58% voting “YAE.”

:speaking_head: Provide your feedback on these active Aave Requests for Comment:

  • Deploy the RMM V2 with the Aave V3 Version. A proposal from RealT, which “aims to democratize and bring real estate tokenization to everyone.”

In the Forums

Collaboration framework. @ChaosLabs presents ideas for how Aave risk managers can work together productively.

Avoid quorum failure. @Kene_StableNode advocates for establishing a regular proposal cadence.

Delegate platform updates from FranklinDAO (@PennBlockchain), Flipside Crypto (@quasimatt), @lbsblockchain, and StableNode.

On Twitter

First Aave News of the New Year.

Aave Grants DAO November update and new grantees.

Llama space: Llama <> Aave Three Month Update on Thursday, January 14 (16:00 UTC).

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

2 Likes

Week of January 9, 2023

Summary

Is V3 coming to Ethereum this week? Here’s the process.

Proposals

:speaking_head: Aave Improvement Proposals (AIPs):

  • Add OP to Aave V3 on Optimism (141). This proposal passed with 100% voting “YAE” and was executed on January 14.

:speaking_head: Snapshot:

  • [ARC] Aave Ethereum V3 market initial onboarded assets. This proposal ended on January 14 with 85% voting in favor of Chaos Labs’ approach.
  • Enable Search by UNS + ENS Domains. This proposal ended on January 15 with almost 54% voting “YAE.”
  • [Updated] Aave Grants DAO Renewal. This proposal passed on January 12 with almost 100% voting “YAE.”

:speaking_head: Aave Requests for Comment (ARC/ARFC):

  • [ARC] onboard rETH (rocket pool ETH) to Aave V3 ethereum market. An “opportunity to add rETH to the Ethereum V3 market as a reserve.”
  • [ARFC] wETH & wstETH Interest Rate Curve - Ethereum Network. A proposal from @Llamaxyz “to amend wETH and wstETH interest rate parameters on the v2 and v3 deployments.”
  • [ARC] Compensate Bug Bounty Contributor. Gauntlet suggests that the community compensate the “contributor for risk analysis conducted during market volatility” — specifically related to the REN asset.
  • [ARC] Add Add wstETH to Aave V3 on Optimism. @Pauljlei provides parameter recommendations.
  • [ARFC] CRV Interest Rate Curve Upgrade. A proposal from Llama to update “CRV interest rate parameters on the Aave Ethereum v2, Ethereum v3 (when deployed), Polygon v3, and Polygon v2 Liquidity Pools.”
  • [ARC] Aave Protocol Plan for Shanghai Upgrade. Gauntlet kicks off the discussion around “potential actions the Aave community can take.”
  • [ARC] ETH Interest Rate Curve Update. Llama posts a reminder of what is to be implemented when V3 is deployed on Ethereum.
  • [ARC] Gauntlet Risk Parameter Updates for Aave V2 ETH (2023-01-12). No changes suggested for the week, but position analysis is presented.
  • Launch Aave V3 on Celo. The question continues to be discussed.
  • [ARC] Add support for cbETH. With Aave V3 launch coming, @AndrewA would like to take up discussion again.

In the Forums

Continuous formal verification report for December 2022 provided by Certora.

Delegate platform updates from @lbsblockchain, @CambridgeBlockchain, and the Aave Chan Initiative.

Collaboration framework for risk managers. Progress appears to have been made.

Aave Grants DAO presents its work update for December 2022, from @0xmigi.

On Twitter

A thread from Certora about the formal verification process.

BGD Labs’ technical analysis of expanding to Metis.

Check out the Llama <> Aave Month 3 update.

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

3 Likes

Week of January 16, 2023

Summary

“The technical setup for the Aave v3 Ethereum activation is finished,” says BGD Labs, and “the governance proposal to activate Aave v3 Ethereum has been created.” Voting for the AIP is active today.

Separately, many thanks to @Kene_StableNode and Bobbay_StableNode, who posted a v0 of the Aave Finance Governance Process. It “aims to provide an overview of the different roles, flow and pathways for various stakeholders to participate in Aave DAO,” and can be “continuously updated by Aave DAO contributors.”

Proposals

:speaking_head: Aave Improvement Proposals (AIPs):

  • Aave V3 Ethereum (147). This proposal “activates the Aave V3 Ethereum pool (3.0.1), by completing all the initial setup and listing WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE.” (See further discussion of the wETH and wstETH interest rate curve here.)
  • Repay Excess CRV Debt on Ethereum v2 (146). A proposal to “procure CRV with aUSDC from the Collector Contract for the purpose of repaying the excess debt in the CRV Reserve on the Ethereum v2 liquidity pool.”
  • Renew Aave Grants DAO (145). This proposal will provide “Aave Grants DAO (AGD) with $3.25m for the next two quarters (Q1 and Q2 2023) to fund more projects that benefit AAVE,” as described in the recent Snapshot.
  • Ethereum v2 Collector Contract Consolidation (144). This proposal succeeded with 100% voting “YAE” and will be executed on January 23.
  • Freeze jEUR on Aave v3 Polygon (143). This proposal succeeded with 100% voting “YAE” and will be executed on January 23.
  • Freeze agEUR on Aave v3 Polygon (142). This proposal failed on January 22 with nearly 100% voting “NAY.”

:speaking_head: Now on Snapshot:

  • [ARC] Compensate Bug Bounty Contributor. This proposal suggests that the community compensate the “contributor for risk analysis conducted during market volatility.”
  • [ARFC] CRV Interest Rate Curve Upgrade. See the most recent discussion of this proposal for a suggestion to split this proposal into four separate ones.
  • [ARC] Interest Rate Curve Changes for Aave V2 ETH. This proposal passed on January 20th with 100% voting “YAE.”

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

  • [ARFC] Repay Excess CRV Debt on Ethereum v2. Although almost 66% voted to “use USDC to acquire CRV” on December 16, the market has shifted considerably and there considerations are [ARFC] Repay Excess CRV Debt on Ethereum v2. Almost 66% voted to “use USDC to acquire CRV” on December 16.
  • [ARC]: Add support for Origin Dollar (OUSD) on Ethereum V3. A proposal to add “lend/borrow support for the Origin Dollar stablecoin.”
  • [ARC] UI/UX Upgrade Governance Framework. @AaveCompanies notes that “going forward, prospective integrators should reach out to Aave Companies at integrators@aave.com to discuss the process for integrations.”
  • [ARC] Add Support for wstETH on Arbitrum Aave v3, a proposal from Lido.
  • [ARC] Add Support for cbETH. Discussion continues as Chaos Labs provides analysis and recommendations.
  • [ARC] onboard rETH (rocket pool ETH) to Aave V3 ethereum market. Discussion continues, and support is strong.

In the Forums

Delegate platform updates from @lbsblockchain, @fig (Flipside), and StableNode.

Governance research done by @martin of ChainSafe Systems has sparked an interesting discussion of what is being worked on and what can still improve.

Financial report for Q4 2022, provided by @Llamaxyz.

On Twitter

Get your stAAVE and AAVE ready to GHO vote”!

Aave News #84, get it here.

Celebrating Aave grants winners from December.

Who are the active solo DAO governors in Aave?

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

2 Likes

Week of January 23, 2023

Summary

:tada: :piñata: :partying_face: :confetti_ball: :clinking_glasses:

Proposals

:speaking_head: Aave Improvement Proposals (AIPs):

  • Aave V3 Ethereum (147). Executed on January 27th.
  • Repay Excess CRV Debt on Ethereum v2 (146). Succeeded with 100% voting “YAE” and was executed on January 25th.
  • Renew Aave Grants DAO (145). Succeeded with 100% voting “YAE” and was executed on January 25th.

:speaking_head: On Snapshot:

  • [ARC] onboard rETH (rocket pool ETH) to Aave V3 ethereum market (Pending).
  • [ARFC] Add wstETH to Optimism Aave v3 (Pending).
  • [ARFC] wETH Interest Rate Curve - Ethereum v2. A proposal from Llama to “amend wETH interest rate parameters on Aave v2 Ethereum.”
  • [ARC] Compensate Bug Bounty Contributor. This proposal succeeded on January 27th with nearly 100% voting to send 20 AAVE to the “contributor for risk analysis conducted during market volatility.”

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

  • [ARC] Proposal: Onboarding sfrxETH from Frax Protocol to Aave V3 Ethereum Market. This idea “presents the community with the opportunity to add sfrxETH to the Ethereum V3 market as a reserve.”
  • [ARFC] LDO Emission_Admin for Ethereum, Arbitrum and Optimism v3 Liquidity Pools. This proposal would “enable Lido to distribute LDO rewards across the Aave v3 Ethereum, Arbitrum and Optimism Liquidity Pools.”
  • [ARC] Gauntlet Borrow/Supply Cap Updates for Aave v3 OP and Aave v3 AVAX. Two options are presented, with different assumptions.
  • [ARC]: Onboard Gamma Strategies’ USDC/GHO Uni v3 Collateral to Mint GHO. Discussion continues with a contribution from FranklinDAO.
  • [ARC] Add Support for cbETH. Discussion continues.
  • [ARC] onboard rETH (rocket pool ETH) to Aave V3 ethereum market. Discussion continues.
  • [ARFC] Repay Excess CRV Debt on Ethereum v2. Some discussion continues.
  • [ARC] Aave Protocol Plan for Shanghai Upgrade. Gauntlet provides initial commentary and analysis.

In the Forums

Risk parameter recommendations for new asset listings. Chaos Labs and Gauntlet work together to provide a framework for v3.

Disclosure. Llama reveals a rescue they performed after AIP-144 was executed.

Wintermute @WintermuteGovernance delegate platform has been added. And so has that of @JesusCryptoPlaza.

Delegate platform updates from @lbsblockchain and FranklinDAO (@PennBlockchain).

Governance research discussion continues.

Interest rate curve changes to Aave v2 ETH. @pauljlei from Gauntlet posts a recommendation update.

On Twitter

Aave News #85.

A video course on using, building, governing Aave.

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

Week of January 30, 2023

Summary

It’s (almost) all about V3.

Proposals

:speaking_head: Aave Improvement Proposals (AIPs):

  • BAL Interest Rate Curve Upgrades (151). Succeeded on February 6th with 100% voting YAE and is queued for execution.
  • Aave v3 Polygon wMATIC Interest Rate Update (150). Succeeded on February 6th with 100% voting YAE and is queued for execution.
  • Add Support for cbETH (149). Succeeded on February 5th with nearly 100% voting YAE and is queued for execution.
  • Interest Rate Curve Changes for Aave V2 ETH (148). Succeeded on February 3rd with 100% voting YAE and was executed on February 4th.

:speaking_head: On Snapshot:

  • [Temp Check] Deploy Aave V3 on Neon EVM Devnet. A proposal to “To support Aave’s multichain expansion.”
  • [ARFC] Add wstETH to Arbitrum Aave v3. A proposal from Llama.
  • [ARFC] CRV Interest Rate Curve Upgrade. Llama proposes to “update the CRV interest rate parameters on the Aave Ethereum v2, Ethereum v3…Polygon v3, and Polygon v2 Liquidity Pools.”
  • [ARFC] Add USDT to Ethereum V3 Market. A proposal to “onboard USDT to the Ethereum v3 Liquidity Pool.”
  • [ARFC] LDO Emission_Admin for Ethereum, Arbitrum and Optimism v3 Liquidity Pools. This proposal passed on February 6th with nearly 100% voting “YAE.”
  • [ARC] onboard rETH (rocket pool ETH) to Aave V3 ethereum market. This proposal passed on February 3rd with 98.85% voting “YAE (without emode).”
  • [ARFC] Add wstETH to Optimism Aave v3. This proposal passed on February 2nd with 99.4% voting “YAE (without emode).”
  • [ARFC] wETH Interest Rate Curve - Ethereum v2. This proposal passed on February 3rd with nearly 100% voting “YAE.”

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

  • [ARC] Extend Aave DAO with EIP-4824. A proposal to “upgrade Aave DAO to EIP-4824 by deploying a new registration contract through a contract interaction with the EIP-4824 factory maintained by DAOstar.”
  • [ARFC] MaticX Polygon v3 Upgrade. A proposal to update the “MaticX Reserve on Polygon to facilitate an expansion of the MaticX/wMATIC loop strategy in the anticipation of rewards being introduced in the near future.”
  • [ARC] BAL Interest Rate Curve Upgrade. There’s been a bit of follow up on the risk analysis.
  • [ARFC] Increase Borrow Cap for MAI Aave Polygon V3. A proposal from the Aave Chan Initiative to “increase the MAI borrow cap to 1M MAI to reflect market demand for this asset.”
  • [ARC] Add Safety module support for Aave V3 Ethereum market. The Aave Chan Initiative proposes “to extend the coverage of the Safety module to Aave V3 Ethereum Contracts.”
  • [ARC] Add LUSD to Ethereum V3 Market. This proposal, also from the Aave Chan Initiative, provides the “opportunity to onboard LUSD to the Ethereum v3 Liquidity Pool.”
  • [ARFC] Add BAL Ethereum v3. A proposal from @Llamaxyz to onboard BAL to V3 Ethereum.
  • [ARFC] Avalanche wAVAX Interest Rate Upgrade. Llama presents “a proposal to amend the wAVAX interest rate parameters on the Aave Avalanche v3 Liquidity Pool.”
  • [ARFC] Add CRV to Ethereum v3. Llama proposes to “onboard CRV to the Ethereum v3 Liquidity Pool.”

In the Forums

Chaos Labs debut their parameter recommendation platform.

Recent work updates from Aave Grants DAO.

Llama month four update.

Monthly community update from @ChaosLabs.

And Gauntlet monthly updates here.

Should Aave v3 be deployed on BNB Chain?

Delegate platform updates from @lbsblockchain and @WintermuteGovernance.

On Twitter

Aave News #86.

How decentralized governance should work.

Leave no ghost behind.

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