[TEMP CHECK] Create an Aave Financial Management Working Group
Vote Result: YES
Rationale
There is a need for an RFP process and to professionalise the DAO and we are in favour of this proposal. The high level items to be outlined by applicants in the RFP are sensible - we encourage as in-depth RFPs as possible as well as providing clear and concise summaries of all the sections for the community to easily be able to digest. Therefore, we will vote YES in favour of this proposal.
[ARFC] Increase Stablecoin Optimal Borrow Rates and [ARFC] Increase Uopt for Stablecoins on all V3 Deployments and RF on V2 Ethereum
Vote Result: YES
Rationale
@monetsupply’s research provides ample evidence towards increasing Slope1 for all stablecoins across all Aave deployments. Chaos Labs and Gauntlet are also clearly in favour of the proposal. Therefore, we will vote YES in favour of this proposal to increase the optimal borrow rates and are also in favour of increasing Uopt and RF for the listed assets given it does not add excess risk according to Gauntlet’s analysis.
[TEMP CHECK] GHO Bounty for Integration Issue Detection
Vote Result: YES
Rationale
Security is crucial, this white hat reporting the incident was critical and must be rewarded. This proposal is a no-brainer and we will vote YES in favour of this proposal. Therefore, we will vote YES in favour of this proposal.
[ARFC] Treasury Management - vlAURA
Vote Result: YES
Rationale
Locking the AURA holdings by sending it to the SAM and most effectively bootstrapping the liquidity of GHO on Balancer is important. Efficient management of the AURA is also crucial and delegating it to the GLC makes the process of supporting GHO simpler. Therefore, we will vote YES in favour of this proposal.
[ARFC] TokenLogic - Retrospective Funding Proposal
Vote Result: YES
Rationale
TokenLogic has done a great job for the DAO and any service provider who has done a lot of work for the DAO, let alone the amount done by TokenLogic, deserves to get retrospectively get funding for the time they have put in. Therefore, we will vote YES in favour of this proposal.
[ARFC] Arbitrum USDC Migration
Vote Result: NO
Rationale
Community feedback that this proposal is too early, there is no rush for this migration, and liquidations are too high makes sense. Moreover, increasing the supply and borrow caps for an asset that is not even 50% utilised makes no sense. We should wait for the incentives implemented to help facilitate the conversion of Bridged USDC to Arbitrum-native USDC. Therefore, we will vote NO against this proposal.
Activate Freezing Steward on v3 Missing Networks
Vote Result: YES
Rationale
Synchronising the FreezingSteward on the missing networks makes sense and improves Aave’s architecture. Therefore, we will vote YES in favour of this proposal.
Fixed REP Price Feed on AAVE v1
Vote Result: YES
Rationale
This proposal enables Chainlink to shut down the REP/ETH price feed which has virtually no negative consequence given REP is a legacy asset. Therefore, we will vote YES in favour of this proposal.
[ARFC] Authorizing Use of Grace Sentinel
Vote Result: YES
Rationale
Giving Chaos Labs and Gauntlet the ability to recommend the grace period and approve the use of the Liquidations Grace Sentinel by the Aave Guardian is logical and aligns with their role as Risk Stewards as well. Therefore, we will vote YES in favour of this proposal.
GHO - Increase Borrow Rate
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
Reserve Factor Updates - Polygon Aave v2
Vote Result: YES
Rationale
This is the latest in a series of reserve factor updates on Polygon Aave v2 that we have previously voted in favour of. Therefore, we will vote YES in favour of this proposal as well.
AmendSafetyModuleAAVEEmissions
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
Upgrade Aave V3 ETH Pool wETH Parameters
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal as well.
[ARFC] CRVUSD Onboarding on Aave V3 Ethereum Pool
Vote Result: YES
Rationale
This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. Both Chaos Labs and Gauntlet are also in favour. Therefore, we will vote YES in favour of this proposal as well.
Chaos Labs CRV Aave V3 Polygon LT Reduction
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Only 11 total accounts amounting to ~$250 are at risk of liquidation following the changes. Therefore, we will vote YES in favour of this proposal.
wMATIC Interest Rate Update
Vote Result: YES
Rationale
This is the on-chain proposal for this Snapshot ARFC that we voted in favour of according to our rationale here. Therefore, we will vote YES in favour of this proposal.
[ARFC] Treasury Management - auraBAL
Vote Result: ABSTAIN
Rationale
Having a dedicated contract to manage auraBAL makes sense in the long term with a SAFE only being a short-term measure. This will allow the strategy to be managed more efficiently. However, the urgency of the proposal is not clear - it is better for the DAO budget to absorb this proposal into the service provider proposal rather than carve out smaller individual proposals especially if the proposal is not very urgent. This does not seem very cost effective and can be moved down the road. Given the lack of clarity at the moment, we will ABSTAIN from voting on this proposal.
[ARFC] Gauntlet Cap Recommendations for Polygon v3
Vote Result: YES
Rationale
All assets should have borrow and supply caps and even though agEUR borrowing is disabled and it cannot be used as collateral, and jEUR is frozen, it makes sense to set caps for these assets. Chaos Labs also supports this proposal by Gauntlet. Therefore, we will vote YES in favour of this proposal.
[ARFC] Gauntlet recommendation to lower stMATIC, MaticX non-emode LT, pt 2
Vote Result: YES, OPTION 2
Rationale
Option 2 makes more sense given the significantly lower liquidations, which should be the aim for Aave. Moreover, we have voted in favour of previous recommendations to this effect given their impact on risk reduction and looped borrow income for Aave. Therefore, we will vote YES in favour of OPTION 2.
[ARFC] Chaos Labs Risk Parameter Updates - Increase MKR Debt Ceiling on V3 Ethereum - 11.07.2023
Vote Result: YES
Rationale
Given the 100% utilisation for the MKR debt ceiling, current market conditions of improved MKR liquidity, and demand from the two large MKR debt positions on Aave, it is logical to increase the debt ceiling of MKR to $8.5M. Therefore, we will vote YES in favour of this proposal.