Configuration Maintenance on the Global Dollar Hub (Aave V4)
Summary
During a post-deployment review of the Global Dollar Hub launch proposal on Aave V4, we identified two configuration deviations from the intended governance setup. This proposal aligns both settings with the rest of the Aave V4 architecture.
The practical impact is minimal, and this only pertains to the Tokenization Spokes of the Global Dollar Hub. There is also no risk to user funds. However, we believe addressing these deviations now will avoid any potential operational issues and simplify future integrations.
Motivation
The review identified two configuration deviations:
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The three Tokenization Spokes deployed for the Global Dollar Hub have their ProxyAdmin contracts owned by the PayloadsController. These contracts should instead be owned by the Protocol Security Council.
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The Global Dollar Hub and USDG Pendle Spoke are currently owned by the Aave Governance Executor. During the hardening phase, ownership is intended to reside with the Protocol Security Council.
| Tokenization Spoke | Asset | Contract Address |
|--------------------------|-------------------|--------------------------------------------|
| waPaxosPT_USDG_24SEP2026 | PT_USDG_24SEP2026 | 0x27eF1140364948A0E30E248297FfDFE5a4091ec4 |
| waPaxosUSDC | USDC | 0x4131E0B2E7AFeCEAf3d3b4225aA61a3B2B7535b8 |
| waPaxosUSDT | USDT | 0x8Dabe53E8cB991c57f0307F6f419E6D469b0deAA |
As mentioned above, the impact of these deviations is minimal and user funds are not at risk. The affected Tokenization Spokes have accumulated almost no liquidity since deployment (only a single ~$20 position exists in the Global Dollar USDC Tokenization Spoke), which means facilitating the transition now carries no migration burden. We believe it is appropriate to adjust the configuration now to avoid future operational friction and integration issues.
Regarding the ownership of the Global Dollar Hub and USDG Pendle Spoke, no action is deemed necessary, as ownership by the Aave Governance Executor is the intended final state. The affected permissions are primarily upgrade-related and can still be exercised through the standard governance process.
Specification
The proposal performs the following actions:
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Retire the three Global Dollar Hub Tokenization Spokes by setting their add cap to zero via the Protocol Security Council. The small $20 position in the Global Dollar USDC Tokenization Spoke will be able to withdraw normally, while new deposits will no longer be accepted.
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Deploy and activate three replacement Tokenization Spokes.
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Coordinate the migration with Service Providers and integrators to ensure a smooth transition to the new Tokenization Spokes.
No action is deemed necessary regarding the ownership of the Global Dollar Hub and USDG Pendle Spoke, which will remain assigned to the Aave Governance Executor.
Disclaimer
Aave Labs is presenting this proposal as a service provider to the Aave DAO. Aave Labs is contributing this proposal as part of its approved scope of work in support of DAO operations.
Copyright
Copyright and related rights waived via CC0.