Gauntlet and Chaos Labs recommend a framework for the listing process of new assets to Aave V3 markets. This framework aims to improve community clarity and define expected timelines for risk parameter recommendations.
With the recent deployment of Ethereum V3 and the motivation to shift usage to V3 markets with a variety of risk mitigation mechanisms, there is a need for a community framework for recommending risk parameters in the listing of new assets.
In the process of onboarding new assets, Gauntlet and Chaos Labs will conduct individual risk assessments on proposed assets to provide the community with clear and rigorous risk analyses and parameter recommendations and maximize the advantages of multiple risk vendors.
To avoid any community confusion, the parties will coordinate their assessments before posting on the forums to provide the community with joint recommendations in cases where the conclusions converge or a choice between two different proposals with clear explanations of the main considerations and differences between the two, in cases where the conclusions diverge.
The recommended process for adding a new asset is as follows:
- ARC to add a new asset, following the ARC Template for Asset Onboarding.
- 72 hours of community discussion and feedback on the proposal. Given strong community support (see ‘next steps’ below) for listing the proposed asset, the risk managers will proceed with risk assessment and parameter recommendations.
- 2-week period for risk managers to conduct independent analyses and coordinate the publication of recommendations.
- If consensus is reached, provide a joint recommendation to the community
- If recommendations are materially different, the parties will present the recommendations while highlighting the key differences and considerations for each one.
- 5 days of community discussion and feedback on the recommended parameters.
- Following the community discussion, the party proposing the asset listing will move forward to the voting stage:
- Snapshot (72 hours voting period) to decide on community interest in listing the asset and risk parameters preferences.
- AIP to add assets with the selected parameter configurations.
- We invite a community discussion around the proposed framework and timelines. We will incorporate this feedback into a revised and final framework to be used in all future asset listings.
- An important aspect for discussion is how to define the needed community support for listing an asset (prior to the risk assessment conducted) without creating additional governance overhead, such as a Snapshot vote. Some initial ideas here:
- Adding a named poll (yae/nae) to the original post
- Qualitative analysis of potential revenue/strategic value provided by protocol growth contributors (Llama)