Governance Weekly Recap

Week of March 20, 2023

Highlights

  1. @bgdlabs introduced Aave Governance V3, and a good discussion is taking place.
  2. BGD Labs also introduced the idea of Risk Steward contracts, as a pilot program to “simplify a lot of operational/governance overhead.”
  3. @lajarre from Butter has announced the “eight candidates that have committed to running as delegates for the Aave Delegation Campaign”; the election, which is open to AAVE and stkAAVE holders, will run from April 3 - April 9.
  4. @Llamaxyz has initiated a temp-check discussion about whether “entities can receive payment for being both a Service Provider and a Delegate Platform.”

Keep your eye out for the next Aave News.

Proposals

Aave Improvement Proposals (AIPs):

  • Freeze DPI on V2 Ethereum (189). Succeeded with nearly 100% voting YAE and is queued for execution.
  • Risk Parameter Updates for Aave V3 ETH Market (188). Succeeded with 100% voting YAE and is queued for execution.
  • Aave V3 Interest Rate Curve Changes (187). Succeeded with 100% voting YAE and was executed on March 25.
  • Supply/Borrow Cap Updates V3 Polygon and Arbitrum (186). Succeeded with 100% voting YAE and was executed on March 25.
  • Increase supply cap for cbETH Aave Ethereum V3 (185). Succeeded with 100% voting YAE and was executed on March 24.
  • Activate Emode for cbETH Aave Ethereum V3 (184). Succeeded with 100% voting YAE and was executed on March 22.
  • OP Emission_Admin for Optimism v3 Liquidity Pool (183). Succeeded with 100% voting YAE and was executed on March 22.
  • MaticX Supply Cap Increase Polygon v3 (182). Succeeded with 100% voting YAE and was executed on March 22.

On Snapshot:

  • [ARFC] Deploy aCRV& CRV to veCRV. Voting ends on March 30.
  • [TEMP CHECK] Polygon v2 to v3 Liquidity Migration. Voting ends on March 30.
  • [TEMP CHECK] Add support for wstETH on Polygon v3. Voting ends on March 30.
  • [ARFC] Add LDO to Ethereum Aave v3. Voting ends on March 30.
  • [ARFC - Temp check] “MVP” V3 deployment on ZkEVM mainnet. Voting ends on March 29.
  • [ARC] E-Mode Parameter Changes for v3 Avalanche, Optimism, Polygon, and Arbitrum. Voting ends on March 31.
  • [TEMP CHECK] Aave Chan Initiative 6-month Budget Proposal. Voting ends on March 28.
  • [ARC] Community Preference for V3 Migration Levers. Voting ens on April 5.
  • [ARC] Isolation Mode Recommendations for Aave v4 Avalanche, Polygon, and Arbitrum. Voting ends on March 28.
  • [ARC] Gauntlet Risk Parameter Recommendations for V3 AVAX. Voting ends on March 28.
  • AAVE on Harmony Recovery Plan. Failed on March 26 with over 99% voting “no, I refuse this proposal.”
  • [TEMP CHECK] Aave Governance Process Improvements. Passed on March 22 with over 98% voting YAE.
  • Deploy Aave V3 to Metis Andromeda Mainnet. Passed on March 23 with over 77% voting YAE.
  • Safety Module upgrade to v1.5. Passed on March 20 with nearly 100% voting YES.

Active Aave Requests for Comment (ARCs & Temp Checks):

  • [TEMP CHECK] - Aave DAO’s $ARB Airdrop Allocation
  • [ARFC] Increase rETH Supply Cap - 03-26
  • [ARFC] Increase cbETH Supply Cap - 03-26
  • [ARFC] GHO Genesis Parameters. Discussion continues.
  • [TEMP CHECK] Aave V3 deployment on zkSync Era Mainnet
  • [TEMP CHECK] GHO Facilitator Onboarding Process and Application
  • [ARC] Whitelist Stargate for V3 Portals
  • [ARFC] wMATIC Supply Cap Increase. Updates provided by Llama.
  • [ARC] Add support for Origin Dollar (OUSD) on Ethereum V3. Update from Origin.
  • [TEMP CHECK] Aave V3 deployment on BNB Chain
  • [ARFC] BAL Interest Rate Upgrade
  • [ARCF] - Chaos Labs Risk Parameter Updates - Aave V3 Optimism
  • [ARFC] - Configure Ioslation Mode Borrowable Assets - V3 Ethereum

In the Forums

Discord & Twitter

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

1 Like

Week of March 27, 2023

Highlights

  1. The delegate election for Butter’s incentivized delegate campaign will go to Snapshot today.
  2. Discussion during and following the Snapshot vote on e-mode parameter changes will likely lead to another proposal being posted soon.

Here’s the latest Aave News.

Proposals

Aave Improvement Proposals (AIPs):

  • Configure Isolation Mode Borrowable Assets on V3 Ethereum (194). Voting ends on April 5.
  • Risk Parameter Updates for Aave V2 AMM Market (193). Failed April 2 with nearly 100% voting NAY.
  • increase supply cap for cbETH Aave Ethereum V3 (192). Succeeded on April 2 with 100% voting YAE and is queued for execution.
  • Add LUSD to Aave Optimism V3 pool (191). Succeeded on April 1 with 100% voting YAE and is queued for execution.
  • Risk Parameter Updates for Aave V3 ETH and V3 Arbitrum (190). Succeeded with 100% voting YAE and was executed on April 1.
  • Freeze DPI on V2 Ethereum (189). Succeeded with nearly 100% voting YAE and was executed on March 28.
  • Risk Parameter Updates for Aave V3 ETH Market (188). Succeeded with 100% voting YAE and was executed on March 27.

On Snapshot:

  • [TEMP CHECK] - Aave DAO’s $ARB Airdrop Allocation. Voting ends on April 3.
  • [ARFC] Add DeFi Saver to flashborrowers on Aave V3. Voting ends on April 3.
  • [TEMP CHECK] Aave V3 deployment on BNB Chain. Passed on Arpil 1 with nearly 100% voting YAE.
  • [ARCF] - Chaos Labs Risk Parameter Updates - Aave V3 Optimism. Passed on March 31 with nearly 100% voting YAE.
  • [ARFC] - Configure Isolation Mode Borrowable Assets - V3 Ethereum. Passed on March 31 with nearly 100% voting YAE.
  • [TEMP CHECK] Aave V1 Offboarding Plan. Passed on March 31 with nearly 100% voting YAE.
  • [ARFC] Deploy aCRV& CRV to veCRV. Voting ended on March 30 with almost 62% voting for sdCRV.
  • [TEMP CHECK] Polygon v2 to v3 Liquidity Migration. Passed on March 30 with more than 92% voting YAE.
  • [TEMP CHECK] Add support for wstETH on Polygon v3. Passed on March 30 with nearly 100% voting YAE.
  • [ARFC] Add LDO to Ethereum Aave v3. Passed on March 30 with nearly 100% voting YAE.
  • [ARFC - Temp check] “MVP” V3 deployment on ZkEVM mainnet. Passed on March 29 with 100% voting YAE.
  • [ARC] E-Mode Parameter Changes for v3 Avalanche, Optimism, Polygon, and Arbitrum. Voting ended on March 31 with over 52% voting Nay.
  • [TEMP CHECK] Aave Chan Initiative 6-month Budget Proposal. Passed on March 28 with nearly 100% voting YAE.
  • [ARC] Community Preference for V3 Migration Levers. Voting ends on April 5.
  • [ARC] Isolation Mode Recommendations for Aave v4 Avalanche, Polygon, and Arbitrum. Voting ended on March 28 with nearly 100% voting for “Aggressive.”
  • [ARC] Gauntlet Risk Parameter Recommendations for V3 AVAX. Passed on March 28 with nearly 100% voting YAE.

Active Aave Requests for Comment (ARCs & Temp Checks):

  • [TEMP CHECK] Gas Fee Rebate for On-Chain Votes
  • [ARFC] - ACI Service Provider 6 Month Proposal
  • [ARFC] Freeze G-UNI DAI/USDC and G-UNI USDC/USDT in the Aave V2 AMM
  • [ARFC] Chaos Labs Supply and Borrow Cap Updates
  • [ARFC] Polygon v3 BAL Supply & Borrow Cap Increase
  • [ARFC] wMATIC Supply Cap Increase (updates)
  • [ARC]: Enable USDT as collateral on Aave V3 Avalanche
  • [ARFC] GHO Genesis Parameters (discussion continues)
  • [TEMP CHECK] - Aave DAO’s $ARB Airdrop Allocation (discussion continues)
  • [ARC] Add GMX to Arbitrum v3 (risk parameter recommendations provided)

In the Forums

Discord & Twitter

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

5 Likes

Week of April 3, 2023

Highlights

  1. The delegate election for Butter’s incentivized delegate campaign is active until noon today (April 10).
  2. I’ve organized the proposals section below into the stages described here — in an attempt to reveal the process more clearly. Feedback and suggestions welcome.

Here’s the latest Aave News.

Proposals

Aave Improvement Proposals (AIPs):

  • Increase wMATIC Supply Cap & BAL Borrow Cap (199). Succeeded on April 10 with 100% voting YAE and is queued for execution.
  • Isolation Mode Changes for Aave V3 Avalanche, Polygon, and Arbitrum (198). Succeeded with nearly 100% voting YAE and was executed on April 9.
  • Add UNI, MKR, SNX & BAL to Ethereum v3 (197). Succeeded on April 8 with 100% voting YAE and is queued for execution.
  • Add DeFi Saver to Aave V3 FlashBorrowers (196). Succeeded with 100% voting YAE and was executed on April 8.
  • Risk Parameter Updates for Aave V2 AMM Market (2023-03-31) (195). Succeeded with 100% voting YAE and was executed on April 7.
  • Configure Isolation Mode Borrowable Assets on V3 Ethereum (194). Succeeded with 100% voting YAE and was executed on April 6.

On Snapshot:

  • [TEMP CHECK] - GHO Facilitator Onboarding Process and Application. Voting ended on April 8 with over 98% voting YAE.
  • [ARC] E-Mode Parameter Changes for V3 Avalanche, Optimism, Polygon, and Arbitrum. Voting ends on April 11.
  • [TEMP CHECK] - Launch Aave V3 on Starknet. Voting ends on April 10.
  • [TEMP CHECK] Incentivized Delegate Campaign (3-month). Voting ends on April 10.
  • [ARFC] ACI Service Provider 6-month Proposal. Voting ended on April 7 with nearly 100% voting YAE.
  • [TEMP CHECK] - Aave DAO’s $ARB Airdrop Allocation. Voting ended on April 3 with over 84% voting “mixed option, discuss.”
  • [ARFC] Add DeFi Saver to flashborrowers on Aave V3. Voting ended on April 3 with nearly 100% voting YAE.
  • [ARC] Community Preference for V3 Migration Levers. Voting ended on April 5 with almost 96% voting for “NO decrease V2 LT/LTV on overlapping assets” (see link for full range of votes on different options).

Active Aave Requests for Comment (ARFC):

  • [ARFC] Aave V3 Deployment on BNB Chain
  • [ARFC] Aave V3 Deployment on zkEVM L2
  • [ARFC] Gauntlet E-Mode Methodology: Aave V3 Liquid Staking Tokens
  • [ARFC] Network deployment ARFC template
  • [ARFC] Chaos Labs Supply and Borrow Cap Updates - 03.30.2023
  • [ARFC] MaticX Supply Cap Increase Polygon v3
  • [ARFC] stMATIC SupplyCap Increase Polygon v3
  • [ARC] Gauntlet Recommendations for wstETH on Aave V3 Arbitrum
  • [ARFC] GHO Genesis Parameters (discussion continues)
  • [ARFC] Polygon v3 BAL Supply & Borrow Cap Increase
  • [ARFC] Align AAVE Risk Parameters on Aave V3 Ethereum Market with Aave V2
  • [ARC] Add support for wstETH on Polygon V3
  • [ARFC] Aave V1 Offboarding Plan

Active TEMP CHECKS:

  • [TEMP CHECK] Proposal for Senate to Enable Dedicated Tooling for Aave Governance
  • [TEMP CHECK] Aave Bug Bounty on Immunefi
  • [TEMP CHECK] Gas Fee Rebate for On-Chain Votes
  • [TEMP CHECK] Ethereum V2 to V3 Migration

In the Forums

Discord & Twitter

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

Week of April 10, 2023

Highlights

  1. BGD has started a discussion around the idea of an “Aave Forest,” a “framework to monitor and protect Aave against potential exploits.”
  2. TokenLogic won Butter’s delegate campaign, which means AAVE holders can delegate to them in a couple of different ways.
  3. Llama has split their approach to Safety Module design improvements into six different proposals, as you’ll see below.

Here’s the latest *Aave News.*

Proposals

Aave Improvement Proposals (AIPs):

  • ACI Service Provider Proposal (202).Succeeded on April 17 with 100% voting YAE and is queued for execution.
  • Add LDO to Ethereum Aave v3 (201). Succeeded on April 16 with 100% voting YAE and is queued for execution.
  • Increase wstETH Borrow Cap on V3 Arbitrum (4/5/2023) (200). Succeeded with 100% voting YAE and was executed on April 15.
  • Increase wMATIC Supply Cap & BAL Borrow Cap (199). Succeeded on April 10 with 100% voting YAE and is queued for execution.

On Snapshot:

  • [TEMP CHECK] - Whitelist Stargate for V3 Portals. Voting ends on April 18.
  • [ARFC] Aave V1 Offboarding Plan. Voting ended on April 16 with nearly 100% voting YAE.
  • Risk Rewards Phase 1: CapsRewardsSteward. Voting ends on April 17.
  • [TEMP CHECK] Aave V3 deployment on zkSync Era Mainnet. Voting ended on April 15 with nearly 100% voting YAE.
  • [ARFC] Align AAVE Risk Parameters on Aave V3 Ethereum Market with Aave V2. Voting ended on April 15 with nearly 100% voting YAE.
  • [ARC] E-Mode Parameter Changes for V3 Avalanche, Optimism, Polygon, and Arbitrum. Voting ended on April 11 with over 80% voting for Option 3.
  • [TEMP CHECK] - Launch Aave V3 on Starknet. Voting ended on April 10 with nearly 100% voting YAE.
  • [TEMP CHECK] Incentivized Delegate Campaign (3-month). Voting ended on April 10 with TokenLogic the lead vote getter.

Active Aave Requests for Comment (ARFC):

  • [ARFC] MaticX Supply Cap Increase Polygon v3
  • [ARFC] wMATIC Risk Parameter Update Polygon v3
  • [ARFC] GHO Genesis Parameters
  • [ARFC] Private Voting for Aave Governance [2-month Trial]
  • [ARFC] Add MAI to Optimism Aave V3 Pool
  • [TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH Balancer v1 Pool to Balancer v2
  • [TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates
  • [TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT)
  • [TEMP CHECK] Safety Module Upgrade Part IV - Incentives Management Upgrade
  • [TEMP CHECK] Safety Module Upgrade Part V - veToken Holding Management Framework
  • [TEMP CHECK] Safety Module Upgrade Part VI - Future considerations
  • [ARFC] Add MAI to Arbitrum Aave V3 Market
  • [ARFC] Aave V3 Deployment on zkEVM L2
  • [ARC] Enable USDT as collateral on Aaave V3 (Avalanche) (Re-submitted)
  • [ARFC] Chaos Labs Risk parameter Updates - Aave V3 Optimism

Active TEMP CHECKS:

  • [TEMP CHECK] Aave Bug Bounty on Immunefi
  • [TEMP CHECK] Proposal for Senate to Enable Dedicated Tooling for Aave Governance

In the Forums

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

1 Like

Week of April 17, 2023

Highlights

The proposal to upgrade the Aave Safety Module to version 1.5 will go up soon, per @bgdlabs. This one will be a Level 2 Executor, meaning it will have the highest quorum requirement (+1m AAVE) — so get ready to participate.

Keep up with all the Aave News.

Proposals

Aave Improvement Proposals (AIPs):

  • Risk Parameter Updates Aave V3 Optimism (206). Succeeded with 100% voting YAE and was executed on April 22.
  • Supply/Borrow Cap Updates V3 Arbitrum (205). Failed to reach quorum on April 21 with over 53% voting NAY.
  • Update AAVE V3 ETH Risk Parameters (204). Succeeded with 100% voting YAE and was executed on April 22.
  • Aave v2/v3 Collectors unification (203). Succeeded with 100% voting YAE and was executed on April 21.
  • ACI Service Provider Proposal (202).Succeeded with 100% voting YAE and was executed on April 18.
  • Add LDO to Ethereum Aave v3 (201). Succeeded with 100% voting YAE and was executed on April 17.

On Snapshot:

  • [ARFC] Deprecate Aave V2 AMM Market. Voting ends on April 28.
  • [ARFC] Add MAI to Optimism Aave V3 Pool. Voting ended on April 23 with nearly 100% voting YAE.
  • [ARFC] Add MAI to Arbitrum Aave V3 Pool. Voting ended on April 23 with nearly 100% voting YAE.
  • [TEMP CHECK] - Community Preference for Supply Cap Limits for LSTs. Voting ended on April 24 with 52.41% voting for Option 2 and 47.57% voting for Option 1.
  • [TEMP CHECK] - Whitelist Stargate for V3 Portals. Voting ended on April 18 with nearly 100% voting YAE.
  • Risk Rewards Phase 1: CapsRewardsSteward. Voting ended on April 17 with nearly 100% voting for “Yes 100% max increase per five days.”

Active Aave Requests for Comment (ARFC):

  • [ARFC] stMATIC SupplyCap Increase Polygon v3
  • [ARFC] Aave V2 Interest Rate Curve Recommendations from Gauntlet (2023-04-21)
  • [ARFC] Chaos Labs Supply and Borrow Cap Updates - 04.21.2032
  • [ARFC] Polygon v2 - Parameter Update
  • [ARFC] Polygon v3 BAL Supply & Borrow Cap Increase
  • [ARFC] Modify Snapshot Proposal Threshold
  • [ARFC] Private Voting for Aave Governance [2-month Trial]
  • [ARFC] wMATIC Risk Parameter Update Polygon v3
  • [ARFC] Gauntlet E-Mode Methodology: Aave V3 Liquide Staking Tokens
  • [ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Polygon - 2023.04.23
  • [ARFC] Migrate & Consolidate Polygon Treasury
  • [ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool
  • [ARFC] Increase Supply Cap for wstETH Aave V3 Arbitrum
  • [ARFC] Add LUSD to Aave v3 on Arbitrum

Active TEMP CHECKS:

  • [TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH Balancer v1 Pool to Balancer v2
  • [TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates
  • [TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT)
  • [TEMP CHECK] Safety Module Upgrade Part IV - Incentives Management Upgrade
  • [TEMP CHECK] Safety Module Upgrade Part V - veToken Holding Management Framework
  • [TEMP CHECK] Safety Module Upgrade Part VI - Future considerations
  • [TEMP CHECK] Gas Fee Rebate for On-Chain Votes
  • [TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO
  • [TEMP CHECK] Aave x Messari Protocol Services

In the Forums

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

3 Likes

Week of April 24, 2023

Highlights

The Snapshot proposal to establish the community’s preference around GHO genesis parameters is live until May 3. Will it be Option A or Option B?

Meanwhile BDG Labs discovered an “inconsistency” in a couple of configured parameters of their own proposal and so canceled AIP 208 — and re-submitted as AIP 213.

The AIP to activate the Aave v3 Metis pool goes live tomorrow.

Proposals

Aave Improvement Proposals (AIPs):

  • Upgrade Aave V3 pools to Aave V3.0.2 (213). Voting begins on May 2.
  • Aave Metis V3 (212). Voting begins on May 2.
  • BAL Interest Rate Upgrade (211). Succeeded with 100% voting YAE and was executed on April 30.
  • Add wstETH to Polygon Aave v3 (210). Succeeded with 100% voting YAE and was executed on April 30.
  • Increase SupplyCap stMATIC Polygon & wETH Arbitrum (209). Succeeded with 100% voting YAE and was executed on April 30.
  • Upgrade Aave V3 pools to Aave V3.0.2 (208). Canceled on April 28.
  • Risk Parameter Updates for Aave V3 Polygon (2023-04-21) (207). Succeeded with 100% voting YAE and was executed on April 30.

On Snapshot:

  • [ARFC] Polygon v2 - Parameter Update. Voting begins on May 1.
  • [TEMP CHECK] Aave V3 GHO Genesis Parameters. Voting ends on May 3.
  • [ARFC] Aave V2 Interest Rate Curve Changes (2023-04-21). Voting ends on May 5.
  • [ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Polygon - 2023.04.23. Ended on April 30 with nearly 100% voting YAE.
  • WAVAX Borrow Cap Update - V3 Avalanche - 04.21.2023. Ended on April 30 with nearly 96% voting YAE.
  • [ARFC] MaticX Supply Cap Increase Polygon v3. Voting ends on May 1.
  • [TEMP CHECK] Gas Fee Rebate for On-Chain Votes. Voting ends on May 1.
  • [ARFC] Private Voting for Aave Governance [2-month Trial]. Voting ends on May 1.
  • [ARFC] Deprecate Aave V2 AMM Market. Ended on April 28 with nearly 100% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] GHO Facilitator Onboarding Process and Application
  • [ARC] Gauntlet Recommendations for Polygon V3 and Arbitrum V3
  • [ARFC] Aave V3 Interest Rate Curve Recommendations from Gauntlet (2023-04-27)
  • [ARFC] Modify Snapshot Proposal Threshold
  • [ARFC] Aave V3 Deployment on zkEVM L2
  • [ARFC] Gauntlet E-Mode Methodology: Aave V3 Liquide Staking Tokens

Active TEMP CHECKS:

  • [TEMP CHECK] - Separating AAVE Utility and Depositor Protection
  • [TEMP CHECK] Aave x Messari Protocol Services
  • [TEMP CHECK] Add ARB to Arbitrum Aave v3
  • [TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH Balancer v1 Pool to Balancer v2
  • [TEMP CHECK] Aave Bug Bounty Program on Immunefi

In the Forums

Discord & Twitter

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

2 Likes

Week of May 1, 2023

Highlights

  1. The AIP to upgrade the Safety Module is live until May 11 and — since its a “long executor” proposal — needs over 1M Aave to reach quorum (and differential). We’re not there yet. Participate if you can!
  2. The Snapshot for GHO Genesis Parameters has concluded, with the community expressing preference for Option A.
  3. Notable discussions and proposals specific to governance this week:
    1. Flipside’s @fig has proposed a framework for recognized delegates
    2. Flipside has also initiated discussion of a delegate Code of Conduct
    3. Private voting on Snapshot has been enabled for Aave since the two-month-trial proposal passed. It will be in effect until July 5, 2023.
    4. The discussion re service provider / delegate platform relationship, initiated by @Llamaxyz, continues.
    5. Butter’s @noturhandle provides their first Delegate Activity Report.

Proposals

Aave Improvement Proposals (AIPs):

  • Supply and Borrow Cap Updates Aave V3 (217). Succeeded with 100% voting YAE and is queued for execution.
  • Risk Parameter Updates Aave V3 Polygon (216). Succeeded with 100% voting YAE and is queued for execution.
  • Gauntlet Recommendations for Polygon V3 and Arbitrum V3 (215). Succeeded on May 7 with 100% voting YAE.
  • Upgrade the safety module to v1.5 PART 1 (214). Voting ends May 11.
  • Upgrade Aave V3 pools to Aave V3.0.2 (213). Succeeded with 100% voting YAE and is queued for execution.
  • Aave Metis V3 (212). Succeeded with 100% voting YAE and was executed on May 5.

On Snapshot:

  • [ARFC] E-Mode Specific Supply and Borrow Caps. Voting ends on May 12.
  • [ARFC] - GHO Facilitator Onboarding Process and Application. Voting ends on May 9.
  • [ARFC] Aave V3 Interest Rate Curve Changes (20203-04-27). Voting ends on May 11.
  • [TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO. Ended on May 7 with nearly 100% voting YAE.
  • Aave Bug Bounty Program on Immunefi. Ended on May 5 with nearly 100% voting For.
  • [ARFC] Modify Snapshot Proposal Threshold. Ended on May 7 with nearly 100% voting YAE.
  • [ARFC] Polygon v2 - Parameter Update. Ended on May 1 with nearly 100% voting for Option 2.
  • [TEMP CHECK] Aave V3 GHO Genesis Parameters. Ended on May 3 with nearly 62% voting for Option A.
  • [ARFC] Aave V2 Interest Rate Curve Changes (2023-04-21). Ended on May 5 with nearly 100% voting YAE.
  • [ARFC] MaticX Supply Cap Increase Polygon v3. Ended on May 1 with nearly 56% voting for Option 2.
  • [TEMP CHECK] Gas Fee Rebate for On-Chain Votes. Ended on May 1 with just over 87% voting YAE.
  • [ARFC] Private Voting for Aave Governance [2-month Trial]. Ended on May 1 with over 64% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] wstETH Supply Cap Increase Arbitrum v3
  • [ARC] Framework For Recognized Delegates
  • [ARFC] Increase wstETH Supply Cap on Polygon v3
  • [ARFC] Increase stMATIC Supply Cap
  • [ARC] Onboard rETH (rocket pool ETH) to Aave V3 Ethereum Market
  • [ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool
  • [ARC] Delegate Code Of Conduct
  • [ARFC] Modify Snapshot Proposal Threshold
  • [ARFC] Initiate ETH Correlated E-mode on Optimism

Active TEMP CHECKS:

In the Forums

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

2 Likes

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

3 Likes

Week of May 15, 2023

Highlights

  1. Hot off the press: @MarcZeller introduces “Skyward,” a free service from the Aave Chan Initiative “that aims to streamline the journey of Aave DAO proposals from inception to final vote.”
  2. The proposals for a delegate code of conduct and for a framework for recognized delegates are live on Snapshot.
  3. There were some issues with AIP 224, affecting Aave v2 Polygon. AIP 230 (see below) provides the fix.

Proposals

Aave Improvement Proposals (AIPs):

  • wMATIC Supply & Borrow Cap Increase Polygon v3 (231). Voting ends on May 23.
  • Fix rate strategies issue on Aave v2 Polygon (230). Voting ends on May 23.
  • MaticX Supply Cap Increase Polygon v3 (229). Executed on May 21.
  • AGD Approval (228). Executed on May 21.
  • Aave V3 Interest Rate Curve Changes (4/27) (227). Queued for execution.
  • Risk Parameter Updates for Ethereum v3 (05/09/2023) (226). Queued for execution.
  • LST Supply Cap Increase Polygon & Arbitrum (225). Executed on May 17.
  • Aave V2 Interest Rate Curve Changes (4/21) (224). Executed on May 16.

On Snapshot:

  • [ARC] Delegate Code of Conduct. Voting ends on May 25.
  • [ARC] Framework for Recognized Delegates. Voting ends on May 25.
  • [TEMP CHECK] FlashMinter Facilitator Approval. Voting ends on May 24.
  • [TEMP CHECK] Add ARB to Arbitrum Aave v3. Voting ends on May 22.
  • [ARFC] Add 1INCH to Aave V3 Ethereum. Ended on May 20 with nearly 100% voting YAE.
  • [ARFC] Add ENS to Aave V3 Ethereum. Ended on May 20 with almost 83% voting YAE.
  • [ARFC] BUSD OffboardingPlan Part II. Ended on May 19 with nearly 100% voting YAE.
  • [ARFC] Activate emode for rETH Aave Ethereum V3 Pool. Ended on May 19 with nearly 100% voting YAE.
  • [TEMP CHECK] - Add support for fUSDC on Ethereum v3. Ended on May 19 with 68.55% voting YAE.
  • [TEMP CHECK] Add support for RPL on Ethereum v3. Ended on May 19 with nearly 100% voting YAE.
  • [ARFC] Acquire BB-A-USD and deposit 50% into both Balancer and Aura Finance. Ended on May 19 with 84.35% voting YAE.
  • [ARFC] Migrate Holdings from v2 to v3 and acquire wstETH and rETH. Ended on May 19 with 83% voting YAE.
  • [ARFC] Consolidate Collector Contract & Secure Service Provider Runway. Ended on May 17 with nearly 100% voting YAE.
  • [ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool. Ended on May 19 with 100% voting YAE.
  • [ARFC] Add LUSD Arbitrum v3. Ended on May 19 with 100% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARC] Harmony Recovery
  • [ARFC] Polygon v3 Supply Cap Update 2023.05.21
  • [ARFC] Optimism Create ETH E-Mode
  • [ARFC] Optimism v3 Supply Cap Update
  • [ARFC] wMATIC Supply & Borrow Cap Increase Polygon v3
  • [ARFC] Ethereum v3 Supply Cap Update
  • [ARFC] Ethereum v3 Supply Cap Update Part 2
  • [ARFC] wstETH Supply Cap Increase Arbitrum v3
  • [ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Ethereum - 2023.05.18
  • [ARFC] wstETH Supply Cap Increase :: Ethereum v3
  • [ARFC] Metis, WETH Supply Cap Increase Metis V3
  • [ARFC] Treasury Management - Convert DAO awETH Holdings to Liquid Staking Tokens
  • Add SUSHI to Aave V3 on Mainnet

Active TEMP CHECKS:

In the Forums

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

3 Likes

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Week of May 22, 2023

Highlights

  1. The eight values articulated in the delegate code of conduct were ratified and the framework for recognized delegates was approved on Snapshot.
  2. The Caps Plus Risk Steward proposal has been executed, which means that the RISK_COUNCIL (a Gnosis Safe controlled by Gauntlet and Chaos Labs) can perform cap increases under specific conditions — reducing governance overhead.
  3. Also please note the e-mode changes across chains in AIP 233 below.

Proposals

Aave Improvement Proposals (AIPs):

  • DeFi Saver Aave V3 FlashBorrowers Whitelist Part II (235). Queued for execution.
  • Caps Plus Risk Steward (234). Executed on May 28.
  • Aave Stablecoin E-mode changes for V3 Avalanche, Optimism, Polygon, and Arbitrum (233). Executed on May 27.
  • Activate Emode for rETH Aave Ethereum V3 (232). Executed on May 27.
  • wMATIC Supply & Borrow Cap Increase Polygon v3 (231). Executed on May 24.
  • Fix rate strategies issue on Aave v2 Polygon (230). Executed on May 24.

On Snapshot:

  • [TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT). Voting ends on June 1.
  • [TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates. Voting ends on June 1.
  • [ARFC] Optimism Create ETH E-Mode. Voting ends on June 1.
  • [ARFC] Optimism v3 Supply Cap Update. Voting ends on June 1.
  • [ARFC] Polygon Supply Cap Update 23.05.2023. Voting ends on June 1.
  • [ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Ethereum - 2023.05.18. Ended on May 28 with nearly 100% voting YAE.
  • [ARC] Delegate Code of Conduct. All eight values ratified on May 25.
  • [ARC] Framework for Recognized Delegates. Ended on May 25 with nearly 100% voting YAE.
  • [TEMP CHECK] FlashMinter Facilitator Approval. Ended on May 24 with nearly 100% voting FOR.
  • [TEMP CHECK] Add ARB to Arbitrum Aave v3. Ended on May 22 with 86.96% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] Add fUSDC to Ethereum v3
  • [ARFC] Add RPL to Ethereum v3
  • [ARFC] Add ARB to Arbitrum Aave v3
  • [ARFC] Add FRAX Arbitrum Aave v3
  • [ARC] Add GMX toArbitrum v3
  • [ARC] Harmony Recovery

Active TEMP CHECKS:

  • [TEMP CHECK] Aave V3 Deployment on Base
  • [TEMP CHECK] Safety Module Upgrade Part IV - Incentives Management Upgrade

In the Forums

On Twitter

  • What is a DAO? a video from a series by the Blockchain Education Network, funded by in part by Aave Grants DAO.

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

1 Like

Week of May 29, 2023

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Highlights

  1. The process put forward in the Caps Plus Risk Steward proposal, which was executed some nine days ago, is already being used by @ChaosLabs and @Gauntlet, reducing governance overhead as expected.
  2. The Aave Chan Initiative last week introduced Orbit, “a delegate platform funding initiative that aims to professionalize the Aave DAO governance and reward top current contributors who are not currently compensated for this role.”
  3. You’ve probably noticed that we’re well into the two-month trial of shielded voting in Snapshot, powered by Shutter.
  4. You can now see your transaction history in the Aave app interface.

Proposals

Aave Improvement Proposals (AIPs):

  • Price Feeds Operational Update (236). Executed on June 3.
  • DeFi Saver Aave V3 FlashBorrowers Whitelist Part II (235). Executed on May 29.

On Snapshot:

  • [ARFC] Add RPL to Ethereum v3. Ended on June 5 with nearly 100% voting YAE.
  • [ARFC] Add fUSDC to Ethereum v3. Ended on June 3 with 80.29% voting YAE.
  • [ARFC] Optimism Create ETH E-Mode. Ended on June 1 with nearly 100% voting YAE.
  • [TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT). Ended on June 1 with 82.36% voting YAE.
  • [TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates. Ended on June 1 with 82.38% voting YAE.
  • [ARFC] Optimism v3 Supply Cap Update. Ended on June 1 with 40.9% voting ABSTAIN, 33.55% voting YAE for Gauntlet’s parameters, and 25.55% voting YAE for those proposed by Chaos Labs.
  • [ARFC] Polygon Supply Cap Update 23.05.2023. Ended on June 1 with nearly 100% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] Increase Supply Caps for LSTs on AAVE V3
  • [ARFC] wMATIC Supply & Borrow Cap Increase Polygon v3 2023.06.01
  • [ARFC] Pyth to Support Aave on Optimism as a Secondary Oracle
  • [ARFC] Add FRAX Arbitrum Aave v3
  • [ARFC] Add GUSD to Aave V3 Ethereum
  • [ARFC] Add USDP to Aave V3 Ethereum
  • [ARC] Add SUSHI to Aave V3 on Mainnet
  • [ARFC] Gas Rebate for Recognized Delegates
  • [ARFC] Add FRAX to Aave V3 Ethereum

Active TEMP CHECKS:

  • [TEMP CHECK] Aave v3 MVP deployment on Scroll mainnet
  • (TEMP CHECK) GHO Stewards: Agile Parameter Changes
  • [TEMP CHECK] Integrating MakerDAO’s DSR into Aave V3 Ethereum Pool
  • [TEMP CHECK] Aave V3 Deployment on Base

In the Forums

On Twitter

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

3 Likes

Week of June 5, 2023

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Highlights

  1. ICYMI: Aave Companies posted a request for comment that proposes to launch GHO, “an Aave native stablecoin.” If approved through the usual process by the Aave DAO, GHO will become live on Ethereum mainnet.
  2. The Risk Stewards — Chaos Labs and Gauntlet — remain quite active in their use of the streamlined process recently approved by governance — while upholding standards.

Proposals

Aave Improvement Proposals (AIPs):

  • Polygon Supply Cap Update (241). Ends on June 14.
  • Add LUSD to Arbitrum Aave V3 (240). Failed to reach quorum.
  • Deprecate Aave V2 AMM Market (239). Executed on June 12.
  • Update Mai Token implementations, unpause & enable flashloanable (238). Executed on June 11.
  • BUSD Offboarding Plan Part II (237). Executed on June 9.

On Snapshot:

  • [ARFC] Add USDP to Aave V3 Ethereum. Ended on June 11 with 53.7% voting YAE.
  • [ARFC] Add GUSD to Aave V3 Ethereum. Ended on June 11 with 99.78% voting YAE.
  • [ARFC] Add ARB to Arbitrum Aave v3. Ended on June 9 with 86.92% voting YAE.
  • [TEMP CHECK] Aave V3 Deployment on Base. Ended on June 9 with 84.2% voting YAE.
  • [ARFC] Polygon v3 Supply Cap Update 2023.05.21. Ended on June 8 with 82.73% Voting YAE.

Active Aave Requests for Comment (ARFC):

  • [ARFC] Add native USDC to the Arbitrum V3 pool
  • [ARFC] Increase wstETH supply cap on Optimism
  • [ARFC] Emode Risk Parameters Aave ETH V3 Pool Update
  • [ARFC] Use Risk Stewards to Increase wstETH Supply Cap
  • [ARFC] - Risk Stewards - Increase Borrow Cap WETH Arbitrum
  • [ARFC] Gas Rebate for Recognized Delegates
  • [ARFC] USDT Risk Parameters Update Aave V3 ETH Pool
  • [ARFC] GHO Mainnet Launch
  • [ARC] Add SUSHI to Aave V3 on Mainnet

Active TEMP CHECKS:

  • [TEMP CHECK] Allocating part of GHO Revenue to Safety Incentives
  • [TEMP CHECK] Integrating MakerDAO’s DSR into Aave V3 Ethereum Pool
  • [TEMP CHECK] Aave | Flipside Proposal
  • [TEMP CHECK] Freeze MAI from Aave

In the Forums

On Twitter

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

2 Likes

Week of June 12, 2023

Highlights

  1. New assets continue to be discussed (and voted on) for addition to Aave V3 on different chains. This is happening in conjunction with deprecation of the V2 AMM market and discussion of next steps in V2 to V3 migration (Ethereum), as presented by @ChaosLabs.
  2. @Flipside’s proposal to assume a contributor role at Aave will soon be up for voting on Snapshot.
  3. We at Boardroom have suggested hosting a biweekly Aave governance call (also suggested in Flipside’s proposal); see our reasoning here.
  4. Check out the proposal from @TokenLogic for initial liquidity pools supporting the GHO launch.

Proposals

Aave Improvement Proposals (AIPs):

  • Price feeds operational update Pt2 - stETH (248). Ends on June 22.
  • Risk Parameter Updates Aave V3 Ethereum (247). Queued for execution.
  • Risk Parameter Updates for AAVE V2 Ethereum (246). Failed on June 18.
  • Add 1INCH to Aave V3 Ethereum (245). Queued for execution.
  • Add ENS to Aave V3 Ethereum (244). Queued for execution.
  • Add LUSD to Arbitrum Aave V3 (243). Executed on June 18.
  • Add rETH to Arbitrum Aave v3 (242). Executed on June 18.
  • Polygon Supply Cap Update (241). Executed on June 15.

On Snapshot:

  • [TEMP CHECK] Aave | Flipside Proposal. Voting starts June 19.
  • [TEMP CHECK] GHO Liquidity Pools. Voting starts June 19.
  • [ARFC] Add native USDC to the Arbitrum V3 pool. Ended on June 17 with 100% voting YAE.
  • [ARFC] Add FRAX Arbitrum Aave v3. Ended on June 17 with 80.22% voting YAE.
  • [TEMP CHECK] Add GMX to Arbitrum v3. Ended on June 17 with 64.29% voting YAE.
  • [ARFC] Add FRAX to Ethereum Aave v3. Ended on June 17 with nearly 100% voting YAE.
  • [TEMP CHECK] Aave v3 MVP deployment on Scroll mainnet. Ended on June 16 with nearly 100% voting YAE.
  • [TEMP CHECK] Pyth to Support AAVE on Optimism as a Secondary Oracle. Ended on June 15 with 66.9% voting For.

Active Aave Requests for Comment (ARFC):

  • [ARFC] Chaos Labs Risk Stewards - Increase Supply Caps wstETH Arbitrum and Ethereum
  • [ARFC]: Supply Cap Updates for Polygon Aave V3, Arbitrum Aave V3 on 2023-06-18
  • [ARFC] - Whitelist Stargate for V3 Portals
  • [ARFC] Aave V3 Deployment on Base
  • [ARFC] Chaos Labs V2 to V3 Migration Next Steps
  • [ARFC] Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum - 2023.06.15
  • [ARFC] Emode Risk Parameters Aave ETH V3 Pool Update

Active TEMP CHECKS:

  • [TEMP CHECK] GHO Liquidity Pools
  • [TEMP CHECK] Gauntlet recommendation on TUSD for Aave v2 Ethereum
  • [TEMP CHECK] Allocating part of GHO Revenue to Safety Incentives

In the Forums

On Twitter

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

2 Likes

Week of June 19, 2023

Highlights

The discussion following the posting of the Aave | Flipside temp-check proposal (which saw 79.26% voting in favor) has been especially interesting with regard to Aave governance. Check it out.

Proposals

Aave Improvement Proposals (AIPs):

  • Chaos Labs V2 to V3 Migration Next Steps (252). Succeeded on June 26 with 100% voting YAE.
  • Add Native USDC To Arbitrum V3 Pool (251). Executed on June 26.
  • Polygon v2 - Parameter Update (250). Queued for execution.
  • Treasury Management - Acquire B-80BAL-20WETH (249). Cancelled on June 23.
  • Price feeds operational update Pt2 - stETH (248). Executed on June 23.
  • Risk Parameter Updates Aave V3 Ethereum (247). Executed on June 19.
  • Add 1INCH to Aave V3 Ethereum (245). Executed on June 19.
  • Add ENS to Aave V3 Ethereum (244). Executed on June 19.

On Snapshot:

  • [ARFC] Chaos Labs Risk Parameter Update - CRV Aave V3 Polygon - 2023.06.20. Voting starts on June 27.
  • [ARFC] Chaos Labs - Incremental Reserve Factor Updates - Aave V2 Ethereum. Voting starts on June 27.
  • [ARFC] USDT Risk Parameters Update Aave V3 ETH Pool. Voting starts on June 27.
  • [ARFC] Bug bounties proposal. Voting ends June 27.
  • [ARFC] Gauntlet Recommendation on TUSD for Aave v2 Ethereum. Ended on June 25 with 98.73% voting for Option 1.
  • [ARFC] - Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum - 2023.06.15. Ended on June 23 with nearly 100% voting YAE.
  • [TEMP CHECK] Aave | Flipside Proposal. Ended on June 22 with 79.26% voting YAE.
  • [TEMP CHECK] GHO Liquidity Pools. Ended on June 22 with nearly 100% voting YAE.

Active Aave Requests for Comment (ARFC):

  • [TEMP CHECK] Aave | Flipside Proposal.
  • [ARFC] Chaos Labs Risk Parameter Updates - Aave V2 Ethereum - 2023.6.23
  • [ARFC] Chaos Labs Risk Stewards - Increase Caps rETH and wstETH on V3 Arbitrum
  • [ARFC] Add rETH Aave v3 Optimism
  • [ARFC] Chaos Labs - Payment Collection Request
  • [ARFC] Chaos Labs Risk Stewards - Increase Supply Caps on V3 Metis
  • [ARFC] Chaos Labs Risk Parameter Updates - FEI on Aave V2 Ethereum - 2023.6.22
  • [ARFC] Aave V3 Deployment on BNB Chain
  • [ARFC] Add GMX to Arbitrum v3

Active TEMP CHECKS:

  • [TEMP CHECK] Aave V3 Deployment on Linea Testnet
  • [TEMP CHECK] Integrating MakerDAO’s DSR into Aave V3 Ethereum Pool

In the Forums

On Twitter

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

Weekly Update - July 3, 2023

:hourglass: Key Points


:ballot_box: Recent Proposals

Aave Improvement Proposals

On Snapshot

In discussion

:writing_hand: Forum Highlights

:newspaper: Stakeholder News


:crystal_ball: Upcoming Votes


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

Weekly Update - July 10, 2023

:hourglass: Key Points

  • Over the past week, Aave passed 7 AIPs, 4 ARFCs, and 3 Temp Checks.

  • Several proposals are currently in discussion and expected to be introduced in the coming days.


:ballot_box: Proposals

Aave Improvement Proposals

On Snapshot

In discussion

:writing_hand: Forum Highlights

  • Gauntlet affirmed their parameter recommendations for deploying Aave v3 on BNB chain.

  • Community members continued to discuss Aave private voting.

  • LBS Blockchain, Michigan Blockchain, Chaos Labs, and Gauntlet discussed the supply cap for wstETH on Ethereum and Arbitrum.


:crystal_ball: Upcoming Votes

  • There are no proposals in the queue.

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

Hey Aave Fam, the Boardroom team is going to resume the Weekly governance updates. We will be covering the key happenings in Aave Governance for the past week.

Before we begin, the Aave Governance call will be held on today, Tuesday 1 PM EST. Please add it to your calendar from the Google calendar button below, do make sure to click on ‘save’. Alternatively, you can also add the event to your calendar with this link

On Chain Votes

AIPs: Active & Queued

Aave Governance v3 - Activation Plan AIP

Status: Active, by @bgdlabs

The AIP titled “Aave Governance v3 - Activation Plan” outlines the transition from Aave Governance v2 to v3. This includes:

  1. Migration Governance v2 to v3: Two migration governance proposals will simultaneously disable v2 and enable v3, with the process taking approximately 21 days. A mediator smart contract will be used to execute both Level 1 (Short) and Level 2 (Long) proposals synchronously.
  2. Key Actions: Upgrading AAVE and stkAAVE implementations, transferring ownerships to Governance v3 executors, and resetting all delegations post-execution.
  3. Implications: The upgrade affects Aave’s smart contract infrastructure, permissions, user interface, and cross-chain governance. All permissions will be migrated to new executors, and a new user interface will be developed for v3. Voting assets (AAVE, aAAVE, stkAAVE) have been adapted for v3.
  4. Voting and Governance: Polygon PoS and Avalanche C-Chain will be the initial voting networks, with Ethereum as a backup. The Aave DAO will subsidize voting costs on Polygon and Avalanche.

Original Proposal | Forum Discussion.

Chaos Labs RF and IR Updates - Aave V2 Ethereum AIP

Status: Passed, Queued. By @ChaosLabs

This proposal, titled “Chaos Labs RF and IR Updates - Aave V2 Ethereum,” aims to update Reserve Factors (RF) and Interest Rate (IR) curves for frozen assets on Aave V2 Ethereum as part of the ongoing deprecation plan. It proposes increasing the RFs of all frozen assets on V2 Ethereum to nearly 100% and raising borrow rates across V2 frozen assets. These measures are designed to discourage the supply of deprecated assets and encourage the repayment of borrowed assets. The proposal outlines detailed RF and IR adjustments for various assets, including CRV, SNX, MKR, DPI, and others.

Original Proposal | Snapshot | Discussion.

Treasury Management - Transfer AURA to GLC SAFE AIP

Status: Active, Queued. Authors - MatthewGraham, @Sisyphos & @efecarranza

The proposal, titled “Treasury Management - Transfer AURA to GLC SAFE,” involves transferring all AURA holdings from the Ethereum Treasury to the GHO Liquidity Committee (GLC) SAFE. The Aave DAO aims to consolidate its vlAURA holdings by converting 443,674 AURA to vlAURA. This action is expected to yield substantial returns, as delegating vlAURA to Paladin currently generates significant weekly earnings. The GLC is responsible for managing these holdings on behalf of the Aave DAO.

Original Proposal | Snapshot | Discussion

GHO update on Aave V3 Ethereum Pool

Status: Active, Queued.

This proposal addresses a technical issue reported on November 13, 2023, regarding GHO integration on Aave V3 Ethereum. A valid issue was identified through the GHO bug bounty program but deemed to have limited and negligible impact. A technical patch was developed in collaboration with Certora, providing a permanent solution without altering existing GHO features in the Aave Pool. No action is required from users, and further details will be shared after the AIP’s successful execution.

Original Proposal | Forum Discussion

Gauntlet Recommendation to Re-enable CRV Borrowing on V3 Ethereum/Polygon AIP

Status: Active. By @Gauntlet

The proposal, “Gauntlet Recommendation to Re-enable CRV Borrowing on V3 Ethereum/Polygon,” follows the disabling of CRV borrowing during the Vyper exploit. With the reduction of excess risk CRV positions, Gauntlet suggests reactivating CRV borrowing. This includes lowering the supply cap on Ethereum V3 from 51m to 7.5m, the borrow cap from 7.7m to 5m, and the debt ceiling from $5m to $1m due to low usage. Similarly, on Polygon V3, the borrow cap is proposed to be reduced from 900k to 300k, with a reactivation of CRV borrowing.

Original Proposal | Forum Discussion.

AIPs: Executed

AIP: GHO_Incident_Report

Status: Executed on Dec 04, 2023. By @AaveLabs

The executed AIP “GHO_Incident_Report,” dated December 4, 2023, outlines a bounty of 50,000 GHO for a community member who reported an incident with GHO. It details the transfer of 50,000 GHO from the collector to a specific address (0x7D51910845011B41Cc32806644dA478FEfF2f11F) as a reward for this crucial detection.

Proposal Link | Snapshot | Forum

Update Price Oracle Sentinel AIP

Status: Executed on Dec 08, 2023. bgdlabs

This AIP, titled “Update Price Oracle Sentinel,” was executed to align the Aave PriceOracleSentinel’s logic across Arbitrum and Optimism (OP) stack. It addresses the differences in Chainlink feed behavior between these networks, specifically the L2Sequencer’s update frequency. The proposal involved updating the PriceOracleSentinel contract on Aave V3 for Arbitrum, Optimism, Base, and Metis networks to ensure precision and avoid downtime.

Proposal Link | Discussion | Snapshot

Aave Funding Updates AIP

Status: Executed on Dec 09, 2023.

Authors: @TokenLogic - MatthewGraham, @scottincrypto
r3genFinance - @Elliott_r3gen, @Pepperoni_Jo3_r3gen

The AIP titled “Aave Funding Updates” focused on consolidating Aave DAO’s stablecoin holdings. It included depositing DAI into aEthDAI, migrating aDAI and aUSDT to aEthDAI and aEthUSDT, bridging assets from Polygon to Mainnet, and converting some holdings into GHO. The aim was to ensure the DAO is well-capitalized, particularly in light of upcoming new service provider proposals, with actions involving the deposit and migration of significant amounts of DAI, USDC, and USDT.

Original Proposal | Discussion | Snapshot

Reserve Factor Updates - Polygon Aave v2 AIP

Status: Executed on Dec 09, 2023. TokenLogic

The AIP titled “Reserve Factor Updates - Polygon Aave v2” was executed to increase the Reserve Factor (RF) for assets on Polygon v2 by 5%, up to a maximum of 99.99%. This is a continuation of AIP 284. The aim was to reduce deposit yield on Polygon v2 by increasing the RF, encouraging users to migrate from Polygon v2 to v3. The increase in RF directs a larger portion of interest paid by users to Aave DAO’s Treasury. The changes in RF percentages for various assets like DAI, USDC, and wBTC are specified in the proposal.

Original Proposal | Discussion | No Snapshot was posted

Onboarding wstETH to Aave V3 on Base Network AIP

Status: Executed on Dec 09, 2023 By MarcZeller

This AIP involved the onboarding of wstETH (wrapped staked ETH) from Lido to the Aave V3 Base Network, aimed at enhancing the diversity of the ecosystem’s liquid staking assets. The integration of wstETH is intended to provide Aave users with more opportunities to earn staking rewards on their collateral, thereby reinforcing Aave’s status as a diverse and inclusive DeFi protocol. The AIP specified various risk parameters for wstETH, including a supply cap of 4,000 wstETH, a borrow cap of 400 wstETH, and detailed parameters for borrowing and liquidation.

Original Proposal | Snapshot | Discussion

Gauntlet <> Aave Renewal 2023 AIP

Status: Executed on Dec 09, 2023. By Gauntlet

The “Gauntlet <> Aave Renewal 2023” AIP proposed renewing Gauntlet’s 12-month engagement for continuous market risk management with Aave. The objective is to maximize capital efficiency and minimize risks of insolvency and liquidations. Since 2021, Gauntlet has provided risk quantification, optimization, stress testing, and dynamic parameter calibration, using agent-based simulation models. The renewal, covering Aave V2, V3, GHO, and Insolvency Refund, involves a fixed annual fee of $1,600,000 (half in GHO, half in aUSDT), with a portion allocated to an insolvency refund vault and the rest distributed linearly over the year.

Original Proposal | Discussion | Snapshot

Snapshot

Treasury Management - Transfer AURA to GLC SAFE

Status: ARFC, Passed Snapshot. By karpatkey_TokenLogic

This proposal, “Treasury Management - Transfer AURA to GLC SAFE,” suggests transferring AURA holdings from the Ethereum Treasury to the GHO Liquidity Committee (GLC) SAFE. It aims to consolidate the Aave DAO’s vlAURA holdings by converting AURA to vlAURA, which is expected to yield significant returns. The GLC will manage these holdings on behalf of the Aave DAO, with a strategy of delegating vlAURA to Paladin for additional yield.

Forum Discussion | Snapshot.

New Chain Deployment Framework

Status: Proposed, Snapshot Passed. By 0xTogbe

The proposal titled “New Chain Deployment Framework” seeks community approval for a standardized process to deploy the Aave Protocol on new blockchains. The framework is designed to be transparent and community-driven, focusing on evaluating and deploying new Aave v3 instances. It addresses the challenges of unclear processes and extended timelines in current deployment practices. The proposal maintains the existing steps of governance (TEMP CHECK, ARFC thread, Snapshot vote, and AIP vote) but introduces clearer timelines and requirements for transitioning between stages, aiming to balance security, efficiency, and speed in new chain deployments.

Forum Discussion | Snapshot.

Update GNO Risk Parameters on Aave V3 Gnosis Pool

Status: Proposed, Snapshot passed. By marczeller

The proposal aims to update the risk parameters for GNO (Gnosis Token) on Aave V3 Gnosis Pool, enabling it as a borrowable asset outside isolation mode. This change is geared towards enhancing GNO’s utility, fostering Gnosischain decentralization, and offering more use-cases for passive income and staking. The modifications include maintaining GNO’s status as a collateral asset while enabling borrowing and keeping the Loan To Value (LTV) at 31%.

Forum Discussion | Snapshot.

AAVE Treasury Proposal for RWA Allocation with Maple Finance

Status: Proposed, Snapshot Defeated. By Maple_Direct

The proposal aims for Aave’s Treasury to allocate stablecoins into Maple Finance’s cash management pool, beginning with an initial investment of 1M USDC. This move is part of Aave’s strategy to diversify into Real World Assets (RWA), enhancing treasury management. The plan includes gradual and compliant investment processes, with community approval at each stage. The proposal will undergo a snapshot vote and, if successful, progress to an on-chain AIP.

Forum Discussion | Snapshot.

Onboarding ETHx to Aave V3 Ethereum Market

Status: Proposed, Snapshot Passed. By 0xTogbe

The proposal focuses on onboarding ETHx (Ethereum Staked) as a new asset to the Aave V3 Ethereum market. ETHx is a liquid staking derivative of staked ETH, offering users continued liquidity while their ETH is staked. The proposal aims to enhance the utility and inclusivity of the Aave ecosystem by introducing a new asset class, thereby providing users with more options for liquidity and investment.

Forum Discussion | Snapshot.

Addition of sfrxETH from Frax to Aave V3 Ethereum Market

Status: Proposed, Active

The proposal focuses on adding sfrxETH from Frax to the Aave V3 Ethereum market, aiming to enhance liquid staking derivative (LST) diversity. sfrxETH allows users to mint frxETH in exchange for ETH deposits. The initiative seeks to support LST variety, following the precedent of supporting assets like cbETH and rETH. Two sets of risk parameters, conservative and aggressive, are proposed for sfrxETH, with varying caps, liquidation parameters, and borrowing conditions. The proposal will progress through community feedback, a snapshot vote, and the potential development of an AIP.

Snapshot.

Continuous Security Proposal for Aave by Certora

Status: Proposed, Active. By Shelly

The proposal seeks to extend Certora’s security services for Aave for one year, with a budget of $1.5m starting September 14, 2023. Services include governance proposal reviews, assistance in reviewing Immunify bug bounties, continuous formal verification, and incident investigation support. Certora has previously reviewed 169 smart contracts and prevented 28 significant bugs. The payment structure involves $1M in GHO and $500,000 in Aave tokens, both vested over a year. The proposal will progress through community feedback, a snapshot vote, and potentially an AIP.

Forum Discussion | Snapshot

Proposal Addressing Bad Debt from Harmony Network Exploit AIP

Status: Proposed, Active. By mbarret3 & Selvy

This proposal aims to resolve the bad debt incurred by the Aave protocol on the Harmony network following the June 2022 Horizon Bridge exploit. It suggests creating a fund with contributions from both Harmony and Aave to compensate affected AAVE holders. The fund would enable Aave holders to withdraw 20% of their original deposit value, using resources pooled from both parties. The proposal requires Aave DAO governance approval and, if passed, will implement a smart contract for the token exchange and fund creation. Aave currently holds bad debt of approximately $751K due to this exploit.

Forum Discussion | Snapshot.

TokenLogic & karpatkey Service Provider Partnership AIP

Status: Proposed. By TokenLogic karpatkey

The proposal aims to onboard TokenLogic & karpatkey as service providers for financial services to Aave DAO for 180 days, with a budget of 400k GHO. They will handle Treasury Management, Strategic Assets’ Liquidity, and Safety Module. This partnership is expected to develop a robust architecture for asset management, secure financial stability for Aave DAO, and manage liquidity incentives. The proposal includes various operational and strategic initiatives to optimize Aave’s treasury and liquidity management.

Forum Discussion | Snapshot.

Governance Updates: Week of December 11, 2023

Last week marked another eventful week in the Aave Governance community. Approximately 21 proposals were pushed on-chain, in various stages of voting and execution. Some of these proposals are still being voted on. The forum also saw activity from service providers and posts from new chains as well.

On-chain Proposals

1. Aave Governance V3 Activation Short

Info: @bgdlabs Active

This proposal details the migration of Aave’s governance system from version 2.5 to version 3. It involves updating smart contracts and transferring permissions to the new system, requiring two coordinated governance proposals across Level 1 and Level 2 Executors. The transition also includes funding the Aave Robot and ensuring compatibility of voting assets (AAVE, stkAAVE, aAAVE) with the updated system. This significant upgrade aims to enhance and streamline decentralized governance within the Aave ecosystem, marking a critical step in its evolution.

2. Treasury Management - Polygon v2 to v3 Migration

Info : @TokenLogic , Active

This AIP proposes migrating most DAO assets from Aave v2 to v3 on Polygon, excluding BAL and CRV. It involves withdrawing assets from v2 and depositing into v3, including amUSDC, amDAI, amUSDT, and others, to enhance yield efficiency. The process includes Polygon treasury holdings, aiming to optimize asset management within the Aave ecosystem.

3. Request for Bounty Payout - December 2023

Info: bgdlabs Active

Allocating 23,600 DAI for Aave <> Immunefi bug bounty payouts and Immunefi fees. It seeks to split bug bounty payments based on report severity to ensure regular rewards for securing Aave. The funds will be distributed to specified white-hat and Immunefi addresses, using aDAI v3 Ethereum, after DAO consultations.

4. Transfer all CRV positions from Ethereum Mainnet Collector to GLC Safe

Info: @Llamaxyz TokenLogic Active

This AIP proposes transferring all CRV holdings from Aave’s Mainnet Treasury to the GHO Liquidity Committee (GLC) SAFE for staking as sdCRV. The transfer includes approximately 6.1 million units of CRV, aiming to leverage the high APR of staked sdCRV to support GHO liquidity. The GLC will manage these assets, focusing on the DAO’s benefit, with actions outlined for transferring and staking CRV from Aave V2 and V3. Forum​​.

5. Update GNO Risk Parameters on Aave V3 Gnosis Pool

Info: @MarcZeller o/b/o Gnosis Chain, Acitve

This AIP aims to update GNO risk parameters on Aave V3 Gnosis Pool, enabling GNO borrowing and fostering Gnosischain decentralization. The proposal focuses on enhancing GNO utility by making it borrowable, potentially leading to future GNO LSTs and a GNO-correlated e-mode. Key changes include enabling borrowing while maintaining the asset as collateral, adjusting the reserve factor to 20%, and setting a borrow cap at 1100 GNO. This initiative is intended to expand utility and passive income opportunities for GNO holders. Forum.

6. Continuous Security Proposal Aave <> Certora

Info: @Shelly Active
This proposal extends Aave security services by Certora, including governance proposal reviews and bug bounty support, for one year at $1.5m. It focuses on continuous formal verification, manual code reviews, and a 24/7 incident response team. Payment is proposed in GHO and Aave tokens, with a budget reduction reflecting market conditions. Forum.

7. Onboard Native USDC to Aave V3 Markets

Info: @ACI @EzR3aL Active

This proposal aims to onboard native USDC into Aave V3 pools on Base, OP Mainnet, and Polygon PoS, transitioning from USDC.e. It seeks to streamline the onboarding process by combining multiple proposals into a single meta-proposal. The changes include adjusting risk parameters for native and bridged USDC across various markets to promote its use and efficiency on L2 networks. Forum.

8. Polygon V2 Reserve Factor Updates

Info: TokenLogic Active

This AIP, following AIP 284, proposes increasing the Reserve Factor (RF) for assets on Polygon v2 by 5%, up to 99.99%. The aim is to encourage migration from Polygon v2 to v3 by reducing deposit yield on v2. The increase in RF will direct more interest income to Aave DAO’s Treasury without affecting users’ risk of liquidation or borrowing rates. The RF adjustment will vary across different assets like DAI, USDC, and others. Forum.

9. TokenLogic & karpatkey Service Provider Partnership

Info: @karpatkey_TokenLogic Active

This AIP proposes onboarding TokenLogic & karpatkey for financial services to Aave DAO for 180 days with a 400k GHO budget. They’ll manage treasury, liquidity, and the Safety Module, aiming to optimize asset management and support GHO’s stability. The proposal includes technical and strategic measures for treasury and liquidity management, and safety module enhancement. Forum.

10. Increase GHO Borrow Rate 100 bps to ~6.41% on Aave V3

Info: @ACI Queued

This AIP suggests raising the GHO borrow rate from 5.22% APR to 6.22% APR to help restore the GHO peg and align borrowing costs with market rates. Following AIP-381’s guidelines, this increase is part of a strategy to incrementally raise rates up to 9.5% if GHO’s monthly average price remains outside a specified range. The proposal aims to adjust GHO’s interest rate in response to its current market performance. Forum.

11. Increase Polygon wstETH Supply Cap

Info: ACI Queued

This AIP proposes increasing supply caps by 20% for assets nearing full utilization on Aave V3, particularly on Polygon. The aim is to meet rising market demand for deposits, allowing new users to join and existing users to expand their positions. An example is increasing wsETH’s supply cap from 3.45k to 4.37k on Polygon. These changes, recommended by Chaos Labs, intend to enhance platform liquidity and user participation. Forum.

12. Chaos Labs V2 Ethereum and Polygon LT Reductions

Info: @ChaosLabs Queued

This proposal aims to reduce Liquidation Thresholds on Aave V2 for Ethereum and Polygon, as part of the v2 deprecation framework. Advised by Chaos Labs and Gauntlet, it targets frozen assets, potentially impacting $120K in total value. The proposal prioritizes clear community communication about the changes and affected accounts. Forum.

13. Treasury Management - Add to rETH Holding (resubmission)

Info: TokenLogic MarcZeller Executed
This AIP proposes converting the DAO’s Ethereum Treasury’s wETH holdings into rETH to capitalize on rETH’s higher yield (currently 3.07%). The aim is to enhance the DAO’s ETH asset returns and support Ethereum’s network health through node diversity. The treasury will retain a balance of 100 aEthWETH for ongoing expenses. The conversion will involve swapping all wETH into RocketPool’s rETH. Forum.

14. Activate Proof of Reserve

Info: bgdlabs Executed

This proposal introduces a Proof of Reserve Admin role to the Avalanche V2 Pool Configurator, aiming to activate a proof of reserve mechanism for bridged assets like DAI.e, USDC.e, and others. This mechanism addresses potential attack vectors on bridged assets by verifying token backing on the origination network. It’s a move to enhance security for Aave v2 on Avalanche following its successful implementation in Aave v3. Forum.

15. Sync emergency admin on v2 AMM

Info: bgdlabs Executed

This proposal recommends aligning the emergency admin address of the deprecated Aave v2 AMM pool with those of Aave v2 and v3 on Ethereum. This change, prompted by an internal security review, aims for consistency across Aave instances and simplifies operations. The execution will involve updating the emergency admin to the Aave Ethereum Guardian’s address in the v2 AMM pool. Forum.

16. Gauntlet recommendation to reactivate CRV borrowing on v3

Info: @Gauntlet Executed

This proposal recommends re-enabling CRV borrowing on Ethereum and Polygon v3, as most high-risk CRV positions have left Aave v2 since the Vyper exploit. It suggests adjusting parameters like supply and borrow caps, and debt ceiling for CRV on both networks. The goal is to safely reactivate CRV borrowing while maintaining system stability. Forum.

Snapshot

[ARFC]. BGD. Security budget request - December 2023

Info: bgdlabs Passed Snapshot
This proposal requests a $151,200 budget for two security reviews on Aave, including a $30,000 refund to BGD for an extra audit on Aave Governance v3 voting tokens. It involves compensation for reviews by Mixbytes and Emanuele Ricci, and an engagement with Spearbit for an in-depth review of Aave v3. The funds will cover expenses for past and upcoming security assessments, enhancing Aave’s protocol security. Snapshot.

New Chains

[TEMP CHECK] Launch Aave V3 on Kava EVM

This proposal discusses integrating Aave V3 with KAVA’s EVM, aligning with Aave’s multichain vision. The integration aims to connect Aave with the deep liquidity of the Cosmos ecosystem via KAVA, offering benefits like additional markets, enhanced liquidity, and access to native Cosmos assets. The Kava Foundation also commits to liquidity mining rewards and seeding liquidity in initial markets, fostering Aave’s potential dominance in the Kava ecosystem. Forum

BGD. Aave <> Scroll. Infrastructure/technical evaluation

This technical evaluation by BGD Labs assesses the potential of deploying Aave on the Scroll infrastructure, a Layer 2 ZK rollup on Ethereum. The report analyzes various technical components crucial for Aave’s optimal operation, like oracle infrastructure, blockchain explorer, and compatibility with Ethereum standards. The evaluation finds Scroll to be an acceptable network candidate for Aave v3, suggesting conservative liquidity caps during initial deployment. The decision for Aave’s expansion onto Scroll remains subject to Aave governance approval. Forum

In the Forums

  1. Aave Governance V3 Activation - Next steps: This proposal details the transition process from Aave Governance v2.5 to v3, focusing on upgrading the governance framework and transferring all operational permissions to the new system. It emphasizes the execution of necessary smart contract upgrades and various preparations, ensuring a seamless shift to a more decentralized and efficient governance structure in the Aave ecosystem.
  2. Temporarily Pausing GHO Integration in Aave: This proposal suggests a temporary halt in the integration of the GHO stablecoin into the Aave protocol. The pause is recommended to thoroughly assess and adjust the integration process, ensuring that GHO’s inclusion aligns with Aave’s long-term strategic goals and maintains the protocol’s stability and security.
  3. Harmony & Aave: Horizon Bridge Hack Solution (Recovery One): The proposal discusses a strategic approach to address the repercussions of the Harmony Horizon Bridge hack. It outlines a recovery plan to safeguard affected assets and implement measures to prevent similar vulnerabilities in the future, aiming to reinforce the security and trust in the Aave protocol.
  4. [ARFC] Chaos Labs - Stablecoin IR Curves Updates: This proposal presents Chaos Labs’ recommendations for revising Interest Rate (IR) curves for stablecoins within the Aave protocol. The proposed updates aim to optimize the financial models of Aave, ensuring a more effective and balanced interest rate environment for stablecoin operations, thereby enhancing the protocol’s overall financial stability.

Events

[TEMP CHECK] Aave Events & Sponsorship Budget
Aave Companies proposes a $550,000 budget in GHO for 2023 to foster community growth through hackathons, side events, merchandise, and the development of the GHO Pass. Key events include DevConnect, rAAVE, and ETHGlobal Istanbul, aiming to boost Aave’s presence, promote GHO adoption, and support community engagement. This budget prioritizes impactful presence at major events and high-quality experiences, aligning with Aave’s strategy to enhance its ecosystem and brand recognition.

rAAVE Istanbul event discussion

That covers our report for the week, we will be back next Monday with more updates about the Aave Governance Forum.

3 Likes

Weekly Update: December 25, 2023

Key updates

With the New year and Christmas holidays, no new proposals can be deployed either on-chain or on Snapshot. The activity will resume again on January 6th. The forum also saw relatively less activity. We have summarized a few topics. Below the summary, you can find the updates from Aave Service Providers

  • Seeking V3 UI Feedback

    With the deployment of Aave Governance V3 UI, BGD labs has invited community members to review and provide feedback for the updates. If you have any suggestions please feel free to check out this forum thread and help BGD Labs in improving the experience

  • AMPL Problem on Aave V3 Ethereum

    The Aave community has identified an inconsistency in the AMPL aToken/vToken supply on Aave v2 Ethereum, likely stemming from its unique rebasing feature and high interest rates. Actions, including governance proposals and collaboration with the Ampleforth team, are planned to resolve this issue.

  • Deploy Aave v3 on Neon EVM Chain

    An earlier discussion proposing the deployment of Aave V3 on Neon EVM chain got new comments. Neon EVM is an L2 of Solana and they are looking for making a push to Aave Integration.

  • BGD. Retroactive bug bounties proposal (pre-Immunefi)

    This proposal requests $86,500 for bounties pending before the official Aave <> Immunefi bug bounty program, rewarding previously submitted security reports evaluated on an ad-hoc basis. These include a stable rate borrowing validation issue, an inconsistent Health Factor behavior during borrow rate swaps, and a potential price manipulation vulnerability of an asset listed on Aave v2.

Service Provider Updates

Gauntlet:

Chaos Labs:

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Governance Updates: Week of January 1, 2024

On-Chain

Aave V3 pool Update

In the internal security review, a technical problem was identified on Aave v3. The proposal does an upgrade of the Aave Pool, on all different Aave instances, by calling the setPoolImpl() function on the PoolAddressesProvider smart contract.

Snapshot and Key Forum Proposals

[TEMP CHECK] Launch Aave V3 on Kava EVM

This proposal suggests integrating Aave V3 with KAVA to enhance Aave’s multichain vision and access Cosmos’ liquidity. KAVA’s EVM compatibility and incentive program, Kava Rise, which distributes 1M Kava monthly based on TVL, are key factors. The integration promises significant market opportunities for Aave in the Kava ecosystem, including native Cosmos assets like ATOM, and partnerships with Tether and Bitgo. The Kava Foundation will seed initial liquidity and offer liquidity mining rewards to foster Aave’s growth in the ecosystem.

[ARFC] Updated Aave Grants Continuation Proposal

This proposal seeks to continue the Aave Grants DAO (AGD) for six months, preserving current treasury holdings and increasing GHO allowance by $328,000. AGD aims to fund $500,000 in developer grants quarterly, supporting Aave’s growth and GHO adoption. The proposal details AGD’s past achievements, including funding 249 grants worth $4.85M, and focuses on future goals like enhancing grantee accountability and measuring grant impact. The budget is divided between grants and operations, with a total ask of $618,000.

Key Service Provider Updates

Chaos Labs

Gauntlet

BGD Labs