Governance Weekly Recap

Governance
42

Week of May 8, 2023

Highlights

  1. The AIP to upgrade the Safety Module succeeded with well over 1M AAVE in the YAE column. Part 2 has also passed, as BGD Labs notes in the forum.
  2. @llamaxyz has broken the original Ethereum collector contract proposal into three separate Snapshot proposals (see below).
  3. The proposal to increase MaticX Supply Cap on Polygon v3, which was combined with a correction of the Aave Grants DAO aUSDT allowance, failed — in part due to “differing scopes” with the combined proposal, which had been put forward in this way to “reduce governance overhead.” Forum discussion here.
  4. Gauntlet and BGD Labs highlight an important improvement to the pricing mechanism for LSTs on Aave — via the Chainlink Synchronicity Price Adapter.
  5. @MarcZeller proposes converting Aave DAO awETH holdings to liquid staking tokens — and a spirited exchange follows.
  6. Keep abreast of other Aave News!

Proposals

Aave Improvement Proposals (AIPs):

  • LST Supply Cap Increase Polygon & Arbitrum (225). Voting ends on May 16.
  • Aave V2 Interest Rate Curve Changes (4/21) (224). Voting ends on May 15.
  • Supply and Borrow Cap Updates Aave V3 (223). Succeeded with 100% voting YAE and is queued for execution.
  • Risk Parameter Updates Aave V3 Polygon (222). Succeeded with 100% voting YAE and is queued for execution.
  • Upgrade the safety module to v1.5 PART 2 (221). Succeeded with 100% voting YAE and is queued for execution.
  • MaticX Supply Cap Increase Polygon v3 and AGD Approval (220). Failed on May 12 with 92% voting NAY.
  • Add MAI to Aave Arbitrum V3 pool (219). Succeeded with 100% voting YAE and was executed on May 13.
  • Add MAI to Aave Optimism V3 pool (218). Succeeded with 100% voting YAE and was executed on May 13.
  • Gauntlet Recommendations for Polygon V3 and Arbitrum V3 (215). ********Succeeded with 100% voting YAE and was executed on May 9.
  • Upgrade the safety module to v1.5 PART 1 (214). Succeeded with 100% voting YAE and is queued for execution.

On Snapshot:

  • [ARFC] BUSD OffboardingPlan Part II. Voting ends on May 19.
  • [ARFC] Activate emode for rETH Aave Ethereum V3 Pool. Voting ends on May 19.
  • [TEMP CHECK] - Add support for fUSDC on Ethereum v3. Voting ends on May 19.
  • [TEMP CHECK] Add support for RPL on Ethereum v3. Voting ends on May 19.
  • [ARFC] Acquire BB-A-USD and deposit 50% into both Balancer and Aura Finance. Voting ends on May 19.
  • [ARFC] Migrate Holdings from v2 to v3 and acquire wstETH and rETH. Voting ends on May 19.
  • [ARFC] Consolidate Collector Contract & Secure Service Provider Runway. Voting ends on May 17.
  • [ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool. Voting ends on May 19.
  • [ARFC] Add LUSD Arbitrum v3. Voting ends on May 19.
  • [TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH. Ended May 13 with just over 64% voting YAE - 80/20 AAVE/wstETH
  • [TEMP CHECK] Defining the Service Provider & Delegation Platform Relationship. Ended on May 13 with almost 68% voting YAE - Option 2.
  • [ARFC] E-Mode Specific Supply and Borrow Caps. Ended on May 12 with almost 52% voting for Option 2.
  • [ARFC] - GHO Facilitator Onboarding Process and Application. Ended on May 9 with almost 100% voting YAE.
  • [ARFC] Aave V3 Interest Rate Curve Changes (20203-04-27). Ended on May 11 with almost 100% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] Treasury Management - Convert DAO awETH Holdings to Liquid Staking Tokens
  • [ARC] Framework For Recognized Delegates
  • [ARFC] Metis, WETH Supply Cap Increase Metis V3
  • [ARFC] Add FRAX to Ethereum Aave v3
  • [ARFC] Risk Parameter Updates for Aave V3 AVAX 2023-05-11
  • [ARFC] Gauntlet and BDG Chainlink Synchronicity Price Adapter 2.0
  • [ARFC] Gauntlet E-Mode Methodology: Aave V3 Liquid Staking Tokens

Active TEMP CHECKS:

In the Forums

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

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