Voting Actions - November 19th – November 24th
Proposal: [ARFC] Onboard Native USDC to Aave V3 Optimism Market
Vote: Yae
Reasoning: We support the integration of native USDC into all Aave V3 markets, so the protocol transition to this token is done at a reasonable pace. The current proposal starts this process by incentivizing the users to remove liquidity from the USDC.e pool by raising the reserve factor from 10% to 20% and lowering the supply cap to 20m, values we agree on.
Proposal: [TEMP CHECK] Onboarding sfrxETH to Aave V3 Ethereum Market
Vote: Yae
Reasoning: We support this proposal to add sfrxETH. The increase of LST diversity on Aave V3 is important for the protocol, and sfrxETH is one of the main players there.
Proposal: [TEMP CHECK] Onboarding ETHx to Aave V3 Ethereum Market
Vote: Yae
Reasoning: Stader’s ETHx has an 89m TVL right now. We support this temp check as a general rule of expanding the LST offering inside AAVE, and will check the risk parametrization on the ARFC phase.
Proposal: [ARFC] Onboarding wstETH to Aave V3 on Base Network
Vote: Yae (Aggressive)
Reasoning: We support this proposal as wstETH is the LST leader, and AAVE must support it on all our deployments. We chose the aggressive option as we believed the 100 wstETH cap was too low and would be reached relatively quickly.
Proposal: [ARFC] Gauntlet Recommendation to re-enable CRV borrowing on v3 Ethereum/Polygon
Vote: Yae
Reasoning: We support the changes on both CRV pools. Lowering the supply and borrow caps will reduce the risk, even if the acute phase is already behind us, and the borrowing composition is healthier now on Ethereum and Polygon.
Proposal: Increase Stablecoin Optimal Borrow Rates
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC.
Proposal: MAI/MIMATIC deprecation, 2023.10.31
Vote: Yae
Reasoning: Given the token’s inability to restore its peg, we support this proposal. It will push the borrowers to clear their debts and lenders to reduce the supply, as the Reserve factor (RF) will be set to 95% of the interest.
Proposal: Gauntlet recommendation to lower stMATIC, MaticX non-emode LT, pt 2
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC.
Proposal: CRVUSD onboarding on Aave V3 Ethereum
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC.
Proposal: Chaos Labs Risk Parameter Updates - Increase MKR Debt Ceiling on V3 Ethereum
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC
Proposal: Gauntlet Cap Recommendations for Polygon v3
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC.
Proposal: Increase GHO Borrow Rate
Vote: Yae
Reasoning: We support this proposal to increase the interest rate as a mechanism to restore the peg, reducing the profitability of strategies that mint GHO and dump it for a different stablecoin. As a note, it is important to pay attention to the discount given to stkAAVE holders, as this rate can still fuel this type of strategy.
Proposal: Onboard Native USDC to Aave V3 Optimism
Vote: Yae
Reasoning: The reasoning remains the same from the ARFC.
Proposal: V2 Deprecation Plan, 2023.11.20
Vote: Yae
Reasoning: We support this proposal, as it is another part of executing the ongoing strategy that incentivises users to move from v2 to v3, reducing the Liquidation Threshold in several pools.
Proposal: Increase GHO Borrow Rate
Vote: Nay
Reasoning: Erroneously duplicated [proposal].(/ipns/app.aave.com/governance/proposal/).
Proposal: AmendSafetyModuleAAVEEmissions
Vote: Yae
Reasoning: We support the reduction proposed, which aims to prepare the field for more balanced risk coverage and the introduction of new assets in the Safety Module.