Butter Delegate Activity Report
Activity: May 2, 2023 - May 16, 2023
Where TokenLogic does not provide a reason for any particular vote, we select the relevant Focus Area. Activity and reasons are available on TokenLogic’s delegate platform.
TokenLogic’s Delegate Profiles
Aave Governance | Boardroom | Tally | Snapshot
Activity Summary
Focus Area: Revenue Growth (14)
Growth avenues expected to attract new users, protocol revenue and tailoring of risk parameters supportive of those building on top of Aave Protocol.
Votes (14)
| Proposal |
LST Supply Cap Increase Polygon & Arbitrum |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
We support the continued safe growth of LSTs on Aave deployments and acknowledge support from the risk providers for all proposed parameter changes. |
| Area of focus |
Revenue Growth |
| Proposal |
Aave V2 Interest Rate Curve Changes (4/21) - Onchain |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
In line with prior comment relating to the Snapshot vote. Although we believe the wMATIC parameters are sub-optimal, we support the overall proposal and reserve the ability to amend the wMATIC interest rate at a later date, pending how the market responds. |
| Area of focus |
Revenue Growth |
| Proposal |
Aave V2 Interest Rate Curve Changes (4/21) - Offchain |
| Vote |
NAE |
| Voting Power |
398 |
| Reason |
We are directionally aligned with this proposal. However, we think the wMATIC parameters are not ideal and should be reworked. We voted NAE to signal an intent to rework the proposal in line with feedback provided on the forum. However, if the community supports the lower wMATIC rates, we will vote YAE at the AIP vote and then monitor how the market responds. If the market dynamics are adversely affected, we will prepare a proposal to revert the wMATIC interest rate parameters. |
| Area of focus |
Revenue Growth |
| Proposal |
Upgrade the safety module to v1.5 PART 2 |
| Vote |
YAE - 80/20 |
| Voting Power |
398 |
| Reason |
Great to see this upgrade coming to AIP with two audits from a very strong developer team. Strongly in favour of this proposal. |
| Area of focus |
Revenue Growth |
| Proposal |
Add MAI to Aave Arbitrum V3 pool - Onchain |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
Stablecoin diversity is good for Aave and we are supportive of MAI’s expansion across several networks. |
| Area of focus |
Revenue Growth |
| Proposal |
MaticX Supply Cap Increase Polygon v3 and AGD Approval - Onchain |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
We are strongly in support of facilitating the safe growth of LST collateral and yield maximizing strategies being built on Aave Polygon v3. We also support the corrective USDT payment to AGD. It is not ideal that these proposals are bundled, and this should be avoided. We supported this proposal and hoped the feedback from the community would be incorporated for future proposals without creating the need to submit two votes. |
| Area of focus |
Revenue Growth, Migration of Liquidity from Polygon v2 to v3 |
| Proposal |
Gauntlet Recommendations for Polygon V3 and Arbitrum V3 |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
We would have liked to see the BAL Supply Cap increased. However, we are also supportive of increasing the EURS Supply Cap and thus voted YAE on this proposal |
| Area of focus |
Revenue Growth, Migration of Liquidity from Polygon v2 to v3 |
| Proposal |
[TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH |
| Vote |
Option 2 - 80/20 AAVE/wstETH |
| Voting Power |
398 |
| Reason |
We are fans of capital efficiency and believe wstETH to be a low risk asset suitable for inclusion in Aave’s Safety Module. We also noted the comments from Solarcurve in the comments on this post and the overall direction of Balancer to focus on LST paired liquidity. |
| Area of focus |
Revenue Growth |
| Proposal |
Aave Metis V3 |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
We view this as an experiment and hope to see strong adoption without consuming many resources to maintain the deployment. |
| Area of focus |
Revenue Growth, Aave v3 Features |
Focus Area: Aave v3 Features (3)
Initiatives that introduce and extend the v3 design features of Aave Protocol, such as portals, facilitator roles and meta-governance.
Submitted Proposals (1)
Note: Proposal was posted by Llama on behalf of TokenLogic
| Proposal |
[ARFC] Polygon v2 - Parameter Update |
| Vote |
Option 2 - Adjust Uoptimal & RF Conservative |
| Voting Power |
398 |
| Reason |
This is our own proposal. We are supportive of a conservative initial implementation with the option to prepare a follow up proposal after reviewing how the market responds to the first implementation. |
| Area of focus |
Aave v3 Features, Migration of Liquidity from Polygon v2 to v3 |
Votes (2)
| Proposal |
Aave Metis V3 |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
We view this as an experiment and hope to see strong adoption without consuming many resources to maintain the deployment. |
| Area of focus |
Revenue Growth, Aave v3 Features |
Focus Area: GHO Adoption (3)
Accelerating the transition from a safe/guarded launch to achieving escape velocity via the widespread adoption of GHO across DeFi.
Votes (3)
| Proposal |
[ARFC] - GHO Facilitator Onboarding Process and Application |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
Having reviewed this proposal and provided feedback pre-forum. We are in support of creating a GHO Facilitator onboarding process. We seek to help communities submit applications to become a facilitator in time. |
| Area of focus |
GHO Adoption |
| Proposal |
[TEMP CHECK] Aave V3 GHO Genesis Parameters |
| Vote |
Option A | Parameter | Value | | Borrow Rate | 1.5% | | Bucket Capacity | $100M | | stkAAVE Discount Rate | 30% | | Discount Limit | 25% of total GHO bucket size | |
| Voting Power |
398 |
| Reason |
We want to see GHO come to market asap. We are supportive of this proposal and acknowledge the ability to amend parameters post launch. |
| Area of focus |
GHO Adoption |
Unrelated to Focus Areas (3)
Votes (3)
| Proposal |
[TEMP CHECK] Defining the Service Provider & Delegation Platform Relationship |
| Vote |
YAE -Option 2 - Incentivised Delegates Program excluding Service Providers |
| Voting Power |
398 |
| Reason |
We think Service Providers should already have the context to make informed votes and they should be active in governance. As a result, we believe Service Providers should be excluded from receiving reward for providing voting delegation platform service to the DAO. It is reasonable to expect these costs are somewhat already baked into the Service Provider agreement pricing. |
| Area of focus |
None |
| Proposal |
Aave Bug Bounty Program on Immunefi |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
No reason provided/participation in forum |
| Area of focus |
None |
| Proposal |
Modify Snapshot Proposal Threshold |
| Vote |
YAE |
| Voting Power |
398 |
| Reason |
No reason provided/participation in forum |
| Area of focus |
None |
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