LBS Blockchain Society Delegate Platform

Delegate Platforms
547

[ARFC] Onboard Native USDC to Aave V3 Optimism Market

Vote Result: YES

Rationale

Using native USDC versions will increase efficiency for Aave and users and is safer as well. Both Gauntlet and Chaos Labs are in favour of this proposal. Therefore, we will vote YES in favour of this proposal.

548

Increase Stablecoin Optimal Borrow Rates

Vote Result: YES

Rationale

This is the on-chain vote 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.

549

[ARFC] Onboarding wstETH to Aave V3 on Base Network

Vote Result: YES - AGGRESSIVE

Rationale

Onboarding wstETH will give Aave users more options for earning staking rewards on their collateral. Moreover, both Gauntlet and Chaos Labs support this proposal. We are in favour of the aggressive proposal since it incentivises users to deposit more assets and is in line with rates on other protocols like Moonwell and is also aligned with Gauntlet’s analysis. Therefore, we will vote YES - AGGRESSIVE in favour of this proposal.

550

[TEMP CHECK] Onboarding ETHx to Aave V3 Ethereum Market

Vote Result: YES

Rationale

ETHx’s metrics are very positive and the previous Stader<>AAVE relationship has been very good with MATICx on Polygon. Diversifying LST diversity is important for Aave and this is a welcome step. Therefore, we will vote YES in favour of this proposal.

551

[TEMP CHECK] Onboarding sfrxETH to Aave V3 Ethereum Market

Vote Result: YES

Rationale

frxETH liquidity is decent and it seems likely that sfrxETH would see healthy usage. Diversifying LST diversity is important for Aave. Therefore, we will vote YES in favour of this proposal.

552

MAI/MIMATIC Deprecation, 2023.10.31

Vote Result: YES

Rationale

This is the on-chain vote 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.

553

Gauntlet Recommendation to Lower stMATIC, MaticX Non-emode LT, pt 2

Vote Result: YES

Rationale

This is the on-chain vote 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.

554

[ARFC] Gauntlet Recommendation to Re-enable CRV borrowing on v3 Ethereum/Polygon

Vote Result: YES

Rationale

The CRV situation is more stable now and it seems safe to re-enable CRV borrowing. Therefore, we will vote YES in favour of this proposal.

555

CRVUSD Onboarding on Aave V3 Ethereum

Vote Result: YES

Rationale

This is the on-chain vote 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.

556

Gauntlet Cap Recommendations for Polygon v3

Vote Result: YES

Rationale

This is the on-chain vote 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.

557

Increase GHO Borrow Rate

Vote Result: YES

Rationale

While there have been multiple increases to the GHO borrow rate and they haven’t been able to restore the peg, the comparative analysis shows that GHO’s current borrow rate is still lower, which may be contributing to its underpeg. Authorising ACI to implement 100bps increases every 7 days will also streamline this process, and this being subject to votes also makes sense. Therefore, we will vote YES in favour of this proposal.

Note: We were not able to put the vote through due to issues with Aave’s front-end, but wanted to highlight our rationale in any case.

558

Onboard Native USDC to Aave V3 Optimism

Vote Result: YES

Rationale

This is the on-chain vote 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.

Note : We were not able to put the vote through due to issues with Aave’s front-end, but wanted to highlight our rationale in any case.

559

V2 Deprecation Plan, 2023.11.20

Vote Result: YES

Rationale

This is another in a series of proposals to deprecate v2 and therefore we will vote YES in favour of this proposal.

560

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.

561

[ARFC] Update the Asset Onboarding Framework

Vote Result: YES

Rationale

Streamlining the asset listing process is logical and would reduce administrative burden in the DAO. It is important to improve the protocol’s governance in light of feedback and this framework clarifies a lot of questions. The process itself is logical and covers all the areas needed for a direct-to-AIP proposal. Therefore, we will vote YES in favour of this proposal.

562

[TEMP CHECK] Onboard osETH to Aave v3 on Ethereum Pool

Vote Result: YES

Rationale

Listing osETH is important since StakeWise is built to encourage solo staking, which is important in decentralising Ethereum. The token is over-collateralised by design, which limits risk. Increasing osETH demand and usage is mutually beneficial for Aave and StakeWise, which is why we will vote YES in favour of this proposal.

563

[TEMP CHECK] Financial Services Proposal - karpatkey & TokenLogic

Vote Result: YES

Rationale

Overall, the scope and problems solved are outlined extremely clearly and the KPIs for this proposal should be easy to track. The problems solved are extremely pertinent and both service providers have shown the capability to tackle them. We understand why the scope has been merged as such given the interlinkages between the GHO, SM, and treasury management parts of the proposal.

In terms of improvements:

  • We recommend that @karpatkey_TokenLogic clearly outlines KPIs as part of an evolution of this proposal, which the DAO can then use to assess performance at the 180-day mark and after 1 year.
  • There needs to be a much clearer demarcation of how the GHO Liquidity Committee will be folded into the Aave Liquidity Committee. At present, there is a lack of clarity on how the funds allocated to the GLC will be utilised, and the differences in strategy between both committees. A ‘long-term and adaptive strategy’ is vague and needs further fleshing out, otherwise GHO will run into the same de-peg and lack of utility and organic demand problems that has plagued it since its launch. Moreover, as @stableghost has suggested, funding for the GLC and all GHO efforts should be tied to incentives to make sure that GHO finally re-pegs and gains utility in the DeFi ecosystem.
  • There are already disparate proposals, such as the one by ACI, to add other assets like stkGHO to the SM. This has been done without significant analysis and should be under the purview of the joint karpatkey-TokenLogic proposal. There is a real need to clearly separate scope and have a much more thorough analysis of how to diversify the SM including a very clear outlining of the risks per new asset added.

Therefore, we will tentatively vote YES in favour of this TEMP CHECK, but for the ARFC stage, it would be good to have the above concerns clarified and the proposal beefed up and potentially amended to account for these.

564

[ARFC] Upgrade Safety Module with StkGHO

Vote Result: NO

Rationale

While we appreciate the benefits of adding GHO to the Safety Module, namely increasing the diversification of the SM and helping increase the utility of GHO within the Aave ecosystem, we think it may be too early for this proposal. Firstly, GHO is still very young and evolving and has not even re-pegged yet. This proposal should be revisited when GHO’s liquidity and usage across the ecosystem are more developed. A dangerous event necessitating the sale of GHO from the SM could add selling pressure onto the asset and take it into a negative spiral which may be difficult to recover from. Waiting to integrate GHO into the SM when it is a more developed asset could be more beneficial for its growth. GHO is already under-peg and it could de-peg even further in a shortfall event, which could lead to all confidence in the stablecoin evaporating. Further, the GHO Stability Module has not even been launched, which would provide further support to GHO as an asset.

While we agree in principle with the proposal, we think it is too early and needs a more mature GHO to be implemented. Therefore, we will vote NO for this proposal.

565

Freeze Price Feeds on v3 Harmony Following Shutdown of Harmony Services by Chainlink

Vote Result: YES

Rationale

This proposal makes sense given Chainlink will shut down price feeds on Harmony - returning the last available price is logical. Therefore, we will vote YES in favour of this proposal.

566

Allow Emergency Admin to Freeze on Aave V2

Vote Result: YES

Rationale

It makes sense for the v3 approach of Freezing Stewards to be replicated on v2, as well as the Liquidations Grace Sentinel being activated for the v2 AMM. Therefore, we will vote YES in favour of this proposal.