Karpatkey Delegate Platform

Voting Actions - October 2nd – 6th

Proposal: [ARFC] KNC onboarding on AaveV3 Ethereum market
Vote: Yae
Reasoning: This proposal expands AAVE’s token offering. Having KNC in isolation mode as collateral helps to get a better sense of how its holders will behave, and the 1M debt ceiling, coupled with the LTV of 35% and the LF of 40%, are conservative and reasonable values for this first step. Enabling KNC as a borrowable asset with a 600,000 borrow cap is also reasonable to gauge the market interest in the asset.

Proposal: [ARFC] STG onboarding on AaveV3 Ethereum Market
Vote: Yae
Reasoning: This proposal expands AAVE’s token offering. Starting with STG in isolation mode is standard to verify the market dynamics, and the Debt ceiling, LTV and LF are conservative. Enabling STG as a borrowable asset with a 5.5M borrow cap is reasonable to gauge the market interest in the asset.

Proposal: Treasury Management - Create AGD GHO Allowance
Vote: Yae
Reasoning: This increases GHO utility and capillarity in the market, as AGD will distribute it to contributors and grantees over a long period. Given the current market conditions, we support buying GHO OTM, which helps improve the peg and is a better alternative than minting new GHO.

Proposal: Reserve Factor Updates - Polygon Aave v2
Vote: Yae
Reasoning: This a part of the v2 to v3 migration strategy. Increasing the v2 Reserve Factor on these assets makes supply less attractive, as a larger part of the interest the borrowers pay goes to AAVE’s treasury. This update will incentivise lenders to go to the Polygon v3 market, reducing the liquidity on v2 and attracting the borrowers to v3.

Proposal: Treasury Management - Polygon v2 to v3 Migration
Vote: Yae
Reasoning: We support the Aave DAO’s assets migration from Polygon’s v2 to v3, aligned with the v2 deprecation strategy started with the AIP-284.

Proposal: [TEMP CHECK] Aave Events & Sponsorship Budget
Vote: Yae
Reasoning: We support this budget proposal from Aave Companies for the remainder of 2023, but more detailed reporting in the future is essential for further support of these requests. At a minimum, we would like to see high-level spending reports accompany the next request.

Proposal: [TEMP CHECK] Add FXS to Ethereum V3
Vote: Yae
Reasoning: Adding FXS to the Ethereum v3 Liquidity Pool increases potential revenues and diversifies options for GHO collateral. We agree with the initial risk parameters recommended by Gauntlet.

Proposal: TUSD Offboarding Plan Part II
Vote: Yae
Reasoning: This continuation of the TUSD offboading plan incentivises migrating from v2 to v3. We should continue to encourage the migration to v3 slowly.

Proposal: OP Risk Parameters Update
Vote: Yae
Reasoning: Updating the OP risk parameters is appropriate, given the L2 has matured since onboarding as a collateral asset in January.