Karpatkey Delegate Platform

Voting Actions: September 25th – 29th

Proposal: [ARFC] Aave V3 Deployment on zkEVM L2
Vote: Yae
Reasoning: We support the deployment of Aave V3 on the zkEVM network. The proliferation of Aave on new chains with lower costs could bring more users, protocol revenue and build brand awareness. We support the deployment as an MVP with USDC, Matic and WETH and have no issues with the risk parameters at this early stage.

Proposal: [ARFC] Treasury Management - GHO Funding
Vote: Yae
Reasoning: GHO is the obvious choice of stablecoin payment for Aave DAO’s expenses; therefore, we support this proposal and the swapping assets listed in the proposal into GHO to support DAO’s funding needs.

Proposal: [ARFC] Aave V3 Deployment on GnosisChain
Vote: Yae
Reasoning: We support the current values set for wETH, wstETH, GNO, USDC, wxDAI, and EURe on Aave V3 GnosisChain, as it is an MVP with a conservative approach.

We want to revisit the GNO parameters after some time, as we believe it is an asset that should be out of isolation mode, with the risk associated with it mitigated using other parameters.

Proposal: CRV Aave V2 Ethereum LT Reduction
Vote: Yae
Reasoning: We support this proposal, as this is another part of the execution of the CRV V2 Ethereum Deprecation Plan approved by the community. The current reduction (2%) does not make any account eligible for liquidation.

Proposal: [TEMP CHECK] Updated Aave Grants Continuation Proposal
Vote: Yae
Reasoning: Aave grants have played an important part in fostering the Aave Ecosystem, and we support this proposal. It is interesting to see more focused lines of funding (400,000 for ARB projects, for example) and the declared objective to kickstart the growth of teams building on top GHO.

Proposal: [ARFC] Aave V2 Markets Deprecation Plan
Vote: Yae
Reasoning: This proposal lays down a good structure to conduct the depreciation of v2 Markets, and we support it. Regarding the suggested approaches, the conservative one is our preference, as it does not imply any liquidation.

Proposal: [ARFC] Gauntlet Recommendations to Lower stMATIC/MaticX non-emode LT/LTV on Polygon v3
Vote: Option 1
Reasoning: We support a smaller reduction, giving time for borrowers to adjust their positions accordingly. Therefore, we choose option 1, which currently has the lower liquidation impact.

Proposal: Gauntlet Interest Rate Recommendation for WETH Base Rate
Vote: Option 1
Reasoning: We support the change for the base rate to be set as 0, as it will lower the borrowing rate at the Uopt (Optimal Utilisation), enabling a looping strategy for LSTs and opening the way for increasing the current utilisation.

Proposal: Gauntlet recommendation to set WETH slope 1 to 3.3% on v3 markets, excluding Ethereum v3
Vote: Yae
Reasoning: We support this proposal as it improves the attractiveness of an LST strategy and can increase the WETH utilisation of these markets closer to the Uopt.

Proposal: Reserve Factor Updates - Polygon Aave v2
Vote: Yae
Reasoning: These reserve factor updates will further incentivise migrating from v2 to v3.

Proposal: [ARFC] Treasury Manage - GHO Liquidity Committee
Vote: Yae
Reasoning: We continue our support of this proposal. Our supporting reasoning can be found, here.

Proposal: [ARFC] Treasury Management - Amend Safety Module AAVE Emissions
Vote: Yae
Reasoning: We support this proposal to reduce the emissions while the future composition of the SM is still to be decided. It is important to have a balanced distribution between all assets that will be part of it, and we are available to participate in this discussion.

Proposal: [ARFC] Treasury Management - Update Balancer Ecosystem Holdings
Vote: Yae (Option 3)
Reasoning: We support this position for the reasons stated here. It is well-balanced and promotes a win-win situation for all parties involved

Proposal: Aave treasury RWA Allocation Part I
Vote: Yae
Reasoning: After productive conversations with the Centrifuge team, we support this proposal (Part I) to create the legal setup, as we understand that the complete proposal comprises the framework needed to have this class of assets introduced safely into Aave.

Proposal: Expansion of Orbit
Vote: Yae
Reasoning: Active delegates are crucial for the Aave DAO. We support incentivising and rewarding delegate activities with projects such as the Orbit and are happy to see the funding taken on by the Aave DAO itself.

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