[TEMP CHECK] Add EURC to Avalanche Aave V3
Vote Result: NO
Rationale
While we think that EURC is a stablecoin issued by a reputed provider, Circle, and increases the stablecoin diversity on Aave, especially for non-USD stables, ACI’s rationale is compelling especially since they deal with the operational side of adding/removing stablecoins on Aave. Given the low traction for EURC on Avalanche, thin liquidity, no liquidity commitment from Circle, and ACI’s experience with Circle not communicating with dApps in the past, onboarding EURC does not seem to make sense at the moment and we will vote NO.
[ARFC] Gauntlet <> Aave Renewal 2023
Vote Result: YES
Rationale
As per our response on the forum here, we are in favour of renewing Gauntlet as a risk service provider on Aave and will vote YES.
Aave Funding Updates
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. The runway frontend adds complete clarity and the swaps are in line with the original proposal. Therefore, we will vote YES in favour of this proposal.
GHO_Incident_Report
Vote Result: YES
Rationale
It is critical to reward white hats for reporting vulnerabilities and ensuring the security of the Aave protocol is paramount. Therefore, we will vote YES in favour of this proposal.
[ARFC] - Chaos Labs RF and IR Updates - Aave V2 Ethereum - 2023.11.24
Vote Result: YES - MODERATE
Rationale
Deprecating the v2 market is important and this is just the latest in a series of proposals to do so, which we have voted in favour of previously. As Chaos Labs has recommended a moderate increase in borrow rates, we will follow this. Therefore, we will vote YES in favour of the moderate option.
[ARFC] Treasury Management - Deploy AURA to vlAURA
Vote Result: YES
Rationale
This proposal executes the treasury management strategy to lock AURA for vlAURA and direct incentives to boost GHO liquidity. It is necessary to transfer the AURA to the GLC SAFE in order to convert to vlAURA and earn yield and we expect the vlAURA to be directed towards Balancer liquidity pools as soon as they are available. Therefore, we will vote YES in favour of this proposal.
Update PriceOracleSentinel
Vote Result: YES
Rationale
This is one proposal in a series of technical updates made by BGD Labs to streamline Aave’s tech stack. Unifying the Aave PriceOracleSentinel is logical and will make it be completely precise. Therefore, we will vote YES in favour of this proposal.
Aave Funding Updates
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. The runway frontend adds complete clarity and the swaps are in line with the original proposal. Therefore, we will vote YES in favour of this proposal.
Reserve Factor Updates - Polygon Aave v2
Vote Result: YES
Rationale
This is the latest in a series of RF updates to incentivise migration away from v2 that we have previously voted in favour of. Therefore, we will vote YES in favour of this proposal.
Onboarding wstETH to Aave V3 on Base Network
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.
Gauntlet <> Aave Renewal 2023
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.
[ARFC] New Chain Deployment Framework
Vote Result: YES
Rationale
The process and the frameworks for TEMP CHECKs and ARFCs for New Chain Deployments are very clear and make it much easier for new chains to deploy to Aave. This helps streamline and professionalise the DAO even more and therefore we will vote YES in favour of this proposal.
Aave Governance V3 Activation
Vote Result: YES
Rationale
It is critical to activate Governance v3 and vote on this proposal - we had previously voted on the cancelled vote and given that BGD, Certora, and MixBytes have resolved the issues causing the previous vote to be cancelled, it makes complete sense to vote on this AIP. Therefore, we will vote YES in favour of this proposal.
[ARFC] Update GNO Risk Parameters on Aave V3 Gnosis Pool
Vote Result: YES
Rationale
If Chaos Labs is able to enhance GNO utility by listing the asset as borrowable with a conservative cap, we are in favour of it. We also understand their arguments for leaving GNO in isolation mode. While we understand Gauntlet’s conservatism, we think it is more beneficial for the protocol to allow increased utility for GNO while limiting downside risk via a conservative cap. Therefore, we will vote YES in favour of this proposal.
[TEMP CHECK] AAVE Treasury Proposal for RWA Allocation with Maple Finance
Vote Result: NO
Rationale
Given Karpatkey and ACI’s logic, we do not think this is the right time to invest further into RWAs for Aave. Firstly, the legal structure outlined in the Centrifuge proposal needs to be set up, and we agree that the DAO should engage with RWA providers when this is complete. Secondly, even if depositing in Aave v2 and v3 brings more volatile rates, we feel this is acceptable for the moment given the flexibility of and reduced smart contract risk from depositing into Aave for the DAO. Lastly, the logic for depositing into Centrifuge was for Aave to set up its legal structure and dip its toes into the RWA space. We feel as if it would be better to consider this proposal in a few months when Aave has more experience with RWAs and Karpatkey and TokenLogic have had time to implement their treasury strategies. Therefore, we will vote NO against this proposal for now in lieu of revisiting it further down the line.
[ARFC] Onboarding ETHx to Aave V3 Ethereum Market
Vote Result: YES - AGGRESSIVE
Rationale
This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. We are in favour of the aggressive option from Gauntlet at the moment since these will incentivise higher inflow and participation, and if the risk gets too high, these can be reduced. Therefore, we will vote YES in favour of this proposal.
[ARFC] Onboarding sfrxETH to Aave V3 Ethereum Market
Vote Result: YES - CONSERVATIVE
Rationale
This is the ARFC for this Snapshot TEMP CHECK that we voted in favour of according to our rationale here. sfrxETH has high centralisation risk, trust assumptions, and third-party risk from Curve. Therefore, it is prudent to go with the conservative parameters to begin with. Therefore, we will vote YES in favour of the conservative option.
Chaos Labs RF and IR Updates - Aave V2 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.
Transfer AURA to GLC Safe
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.
GHO Update on Aave V3 Ethereum Pool for 13-11-2023 Report
Vote Result: YES
Rationale
Patching the GHO integration issue is logical, especially given that the patch does not alter any of the existing GHO features and users are not required to take any action. Therefore, we will vote YES in favour of this proposal.