TokenLogic Delegate Platform

[TokenLogic]

Hi Aave Community

We are excited to announce that TokenLogic is creating a delegate platform to compliment our ongoing contributions to Aave. Members of our team have been contributing to Aave since 2021 and the “TokenLogic Delegate Platform” represents our active contributions to Aave’s governance

TokenLogic is a newly formed independent voting delegate focused on supporting the growth and adoption of decentralisation communities through governance participation.

Key Details

Delegate Address: 0x2cc1ADE245020FC5AAE66Ad443e1F66e01c54Df1
Telegram: @Matthew_Graham
Discord: Matthew_Graham#9177
Twitter: Token_Logic
Twitter: Matthew
External Website: www.tokenlogic.xyz
Dedicated Email: aave@tokenlogic.com.au
Legacy Voting Record: Boardroom
New Delegation Boardroom

Introduction

I am thrilled to announce that Aave is to become the primary delegation platform for TokenLogic. As the founder, @MatthewGraham, I have been actively contributing to Aave since May 2021. I led the Aave team at Llama from receipt of the first grant in mid-2021 and by late 2022, Llama transitioned into a service provider where I am currently managing the Llama <> Aave program.

TokenLogic will act purely independent and will cast all votes with Aave’s best interest front of mind and without outside influence. As a delegate, TokenLogic commits to dedicating time and resources to supporting Aave’s development and growth whilst maintaining complete independence from Llama’s voting process. We are actively scoping out our front end where we intend to provide details about TokenLogic and our voting history within the Aave ecosystem.

Why TokenLogic

At TokenLogic we believe in helping communities grow and develop progressive governance ecosystems. Our delegate platform is intended to serve as an independent voting voice within the thriving Aave ecosystem.

As the Aave ecosystem grows and matures, the protocol benefits from delegation diversity with independent visions and value propositions.

Members of TokenLogic are deeply integrated into the Aave ecosystem. The below highlights some of their ongoing contributions to the Aave ecosystem:

• Aave Guardian
• Program manager for the Llama <> Aave service provider agreement
• Aave Risk Council applicant
• Governance proposals

Values

At TokenLogic we believe in being open, building trust through collaboration and realising possibilities together as a team.

Our values are at the centre of everything we do. They shape how we act with each other, our partners and help us to achieve our vision of helping communities realise their full potential.

Our foundational beliefs, reflect our values:

• Transparency/Openness. We believe in open lines of communication and transparency. We share our knowledge and embrace diversity of thought.
• Trust. We partner constructively and develop close working relationships. We actively listen to the community’s feedback and support compromise to foster solutions in effort to help the community realise its fullest potential.
• Integrity. We act honestly and ethically in all dealings. We reinforce a culture of doing what is right.
• Collaboration. We believe in achieving together and building trust as we strive to deliver the best in all that we do.
• Entrepreneurial Spirit. We adopt an ‘owner mindset’. We identify opportunities and we take the initiative to pursue new and innovative ways of delivering value.

Focus Areas

The following are areas of interest where TokenLogic seeks to focus its efforts:

• GHO Adoption. Accelerating the transition from a safe/guarded launch to achieving escape velocity via the widespread adoption of GHO across DeFi.
• Revenue Growth. Growth avenues expected to attract new users, protocol revenue and tailoring of risk parameters supportive of those building on top of Aave Protocol.
• Live Financial Reporting. Expansion of financial data across Aave, such as live financial statements, bad debt dashboards, service provider funding contracts v Aave budgets and asset holding performance over time
• Aave v3 Features. Initiatives that introduce and extend the v3 design features of Aave Protocol, such as portals, facilitator roles and meta-governance.

Butter Delegate Initiative

Overview

Over the next 90 days, during the Butter Incentivised Delegation Campaign, TokenLogic will be focusing on contributing to two key pillars supporting the ongoing success of Aave Protocol. Two timely areas of focus, is supporting the adoption of GHO and migration of liquidity from Aave Polygon v2 to v3.

Key Performance Indicators

High level measures of success include:

• GHO adoption
• Migration of Liquidity from Polygon v2 to v3

GHO Adoption will primarily focus around initiating new pools and growing on-chain liquidity through various DeFi focused integrations.

The migration Liquidity from Polygon v2 to v3 will be centred around updating various risk parameters across the two deployments that enhance the v3 user experience.

TokenLogic will endeavour to publish Temp Check proposals for community review and supporting payloads enabling the changes to be implemented in production.

The Team

The TokenLogic team, led by Matthew, consists of the following contributors.

• Matthew (@MatthewGraham on the forum, Matthew_Graham_ on Twitter). Mechanical Engineer with 12+ years of industry experience, bachelor degrees in Mechanical Engineering, Investment Finance and Corporate Finance. Published numerous ARCs with a good understanding of DeFi legos, risks, governance, value flow (tokenomics) and fund management.

• DefiJesus (@defijesus on the forum, eldefijesus on twitter). A Software Engineer with 10+ years of building products from zero to one and has over 3 years full time working on the EVM. @defijesus is the founder of the Buzzed Bear community and a keen contributor to Aave ecosystem. Github Repository can be found here.

• Fermin (@efecarranza on the forum, efecarranza on Twitter). A Software Engineer with 8+ years of experience, working extensively with smart contracts. First at ConsenSys where he developed the underlying contracts for the Infura NFT SDK. Later as a Lead Solidity Developer at Llama supporting Aave DAO. Fermin developed the Aave Swap and Strategic Asset Manager contract, both are used frequently.

• Scott (@scottincrypto on the forum, scottincrypto on Twitter). Data Scientist with Bachelor degrees in Mathematics & Electrical Engineering. Scott loves digging into the intricacies and subtleties of novel dApps and innovative protocols and building detailed analytic dashboards showcasing how the protocol/product is performing. Scott led the development of Llama’s backend data analytics platform and built v1 and v2 of Aave DAO financial reporting, treasury, Safety Module and preliminary risk analysis dashboards.

• Mak (@agentMAK on the forum, agentMAK_ on Twitter). A Full-Stack developer with a Computer Science degree and extensive experience in TradFi payment systems. At Index Coop, MAK built dashboards and tools to monitor the protocol’s performance and product liquidity. Previously Mak has contributed to CitaDAO’s RAW on-chain application where he enhanced the UI/UX. With a deep understanding of Web3 and keen eye for detail, Mak has proven instrumental in creating and upgrading protocols.

The team is continually growing and we are always on the look out for DeFi Strategists and skilled Developers.

If you are interested in joining the team, check out our Careers Page.

Conflicts of Interest

If any potential conflicts of interest are to arise, these will be disclosed among various stakeholders within the Aave ecosystem and when it is appropriate, our team members will either abstain or at the very least openly communicate the potential for a conflict of interest to arise.

Delegation

If anyone would like to delegate to TokenLogic, please use the following address:

0x2cc1ADE245020FC5AAE66Ad443e1F66e01c54Df1

Delegate Platform: https://delegate.tokenlogic.xyz

Copyright

Copyright and related rights waived via CC0.

[EzR3aL]

Hi Matthew, maybe its just too early in the morning but whats the USP of TokenLogic?
Looking at the Focus Areas they look the same like Llama. Whats the difference between Llama and TokenLogic?
Llama is already providing Financial reports, also Aave v3 features.

In the last few weeks we have seen many new Delegate Platforms on this forum and im starting to think why do we all need them and what will be the benefit of all those for Aave?

Are people getting interesting in the current discussion regarding funds for those platforms and want to apply for it like ACI?

I would like to hear that one argument that will change my mind and says, “okay we need TokenLogic because not ACI, Llama, Gaunlet, ChaosLabs, AaveCompanies and so on are offering what we are offering”.

Otherwise i don’t see any benefit in offering my voting power to any delegate platform.
In general i would be in favour of having like 3-5 (max) delegates and more individual user voting instead of 15-20.

Thanks, happy to read your answer.

[EzR3aL]

Just trying to bump this one up again.

[TokenLogic]

Hi Everyone

It was an honour to participate and finish on top of the Butter Delegation Competition. We look forward to actively contributing to the Aave ecosystem.

To date we have published a TEMP CHECK and ARFC proposal for the community to discuss.

• [TEMP CHECK] Polygon v2 to v3 Liquidity Migration
• [ARFC] Polygon v2 - Parameter Update
• [ARFC] wMATIC Risk Parameter Update Polygon v3

@ChaosLabs will be progressing the wMATIC proposal forward along with other risk parameter amendments on the Polygon v3 deployment. We intend to progress the Polygon v2 Parameter Update in the coming weeks. This will likely be our first AIP proposal submission for on-chain voting.

@EzR3aL we hope over time our continued participation in Aave’s governance will demonstrate a strong track record of adding value and advancing the protocol. Please do note, TokenLogic is only a delegate, not a Service Provider, and governance publications are to be implemented with collaboration from service providers. A distinguishing feature between TokenLogic and some other delegates, TokenLogic contributors have a strong track record of contributing to Aave dating back to mid 2021.

As a delegate we welcome any support from the broader community and are committed to voting independently in the best interest of Aave Protocol.

Voting History to Date

[TEMP CHECK] - GHO Facilitator Onboarding Process and Application
Vote Cast: YAE
Having reviewed this proposal prior to it publication we are glad to support this much needed onboarding process definition proposal. Great work by the @oneski22 and @khan. We look forward to seeing the ARFC emerge in time.

[ARFC] Align AAVE Risk Parameters on Aave V3 Ethereum Market with Aave V2
Vote Cast: YAE
A solid proposal by @MarcZeller and we directly support the alignment of risk parameters such that v3 is positioned to offer the same or better user experience relative v2 deployments on the same network.

[TEMP CHECK] Aave V3 Deployment on zkSync Era Mainnet
Vote Cast: YAE
Great to see @fig and the Flipside Crypto team getting more active in the Aave ecosystem. We firm support the expansion of Aave v3 deployments on emerging networks which we expect to generate material adoptions and revenue potential to the Aave DAO.

ACI Service Provider Proposal
Vote Cast: YAE
We are in full support of the one man band, @MarcZeller, growing a team and enhancing ACI’s contribution to the Aave ecosystem.

[Temp Check] - Community Preference for Supply Cap Limits for LSTs
Vote Cast: YAE
We are comfortable with increasing Aave’s risk exposure to LST and believe the rewards for doing so outweigh the risks. The ability to redeeming, or swapping, the LST for the native network token is unique to LST.

Aave v2/v3 Collectors unification
Vote Cast: YAE
This AIP is a key enabler for other service providers to begin managing the Treasury on respective networks. @llama implemented a simpler change enabling v1 aTokens to be received by the v2 Collector Contract and this @bgdlabs proposals achieves the same objective in a more governance efficient, holistic and streamlined approach. This is a great proposal from the @bgdlabs team.

Update AAVE V3 ETH Risk Parameters
Vote Cast: YAE
We are in full support of increasing the LTV of AAVE on Ethereum v3 to match the Ethereum v2 deployment.

Supply/Borrow Cap Updates V3 Arbitrum
Vote Cast: YAE
We are supporting of increasing the Supply and Borrow Caps for wETH and wBTC on Arbitrum. This enables the Aave v3 deployment to continue growing without deposit cap limitations. Enabling sufficient deposit capacity is critical to encouraging builder to create structured products on Aave Protocol.

Risk Parameter Updates Aave V3 Optimism
Vote Cast: YAE
We are direction aligned with this proposal and our only caution was DAI with an LT of 83% as this is starting to get high. This aside, we fully support the proposal from @ChaosLabs.

[ARFC] Add MAI to Arbitrum Aave V3 pool
Vote Cast: YAE
We firmly support the inclusion of additional LST and Stable coins across all Aave Protocol deployments.

[ARFC] Add MAI to Optimism Aave V3 pool
Vote Cast: YAE
We firmly support the inclusion of additional LST and Stable coins across all Aave Protocol deployments.

[TokenLogic]

[TEMP CHECK] Gas Fee Rebate for On-Chain Votes
Vote Cast: YAE
We support the reimbursement of gas costs incurred by delegates who have a material representation within Aave’s governance.

Risk Parameter Updates for Aave V3 Polygon (2023-04-21)
Vote Cast: YAE
We are supportive on Gauntlet’s increase the EURS Borrow Cap on Polygon.

Upgrade Aave V3 pools to Aave V3.0.2
Vote Cast: YAE
Great proposal by @bgdlabs. Also noting two mentioned audits. We are strongly in favour of this upgrade.

Increase SupplyCap stMATIC Polygon & wETH Arbitrum
Vote Cast: YAE
Given approval from risk providers was attained and our preference to grow LST exposure on Aave, we are strongly in favour of this proposal.

Add wstETH to Polygon Aave v3
Vote Cast: YAE
We are strong advocates for welcoming the growth of LSTs on Aave Protocol.

BAL Interest Rate Upgrade
Vote Cast: YAE
Supporting of staged increases in the BAL interest rate that gradually align the Uoptimal value with market rates whilst monitoring the markets response over time.

[ARFC] MaticX Supply Cap Increase Polygon v3
Vote Cast: YAE
Similar to the above, we are supportive of LST growth on Aave Protocol provided it is conducted in a safe and controlled manner.

[ARFC] Deprecate Aave V2 AMM Market
Vote Cast: YAE
This Aave deployment failed to gain meaningful traction in the market. Full support to deprecate the v2 AMM, especially given the v3 version will be coming to market post GHO launch.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Polygon - 2023.04.23
Vote Cast: YAE
This proposal leans into supporting further migration from v2 to v3 which is something TokenLogic is a keen supporter of.

WAVAX Borrow Cap Update - V3 Avalanche - 04.21.2023
Vote Cast: YAE
Increasing the wAVAX Borrow Cap enables the yield maximising strategy to grow Aave’s TVL and wAVAX revenue.

[ARFC] Aave V2 Interest Rate Curve Changes (2023-04-21)
Vote Cast: NAE
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.

[ARFC] Polygon v2 - Parameter Update
Vote Cast: Option 2
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.

[TEMP CHECK] Aave V3 GHO Genesis Parameters
Vote Cast: YAE
We want to see GHO come to market asap. We are supportive of this proposal and acknowledge the ability to amend parameters post launch.

Aave Metis V3
Vote Cast: YAE
We view this as an experiment and hope to see strong adoption without consuming many resources to maintain the deployment.

Upgrade Aave V3 pools to Aave V3.0.2
Vote Cast: YAE
Great proposal by @bgdlabs. Looking forward to seeing this in production.

[TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO
Vote Cast: YAE
We are looking to see AGD use these OP rewards to encourage builders on Aave Optimism v3. Using OP represents a solid alternative to AAVE tokens.

[ARFC] Aave V3 Interest Rate Curve Changes (2023-04-27)
Vote Cast: YAE
Solid interest rate improvements and RF adjustments.

[ARFC] - GHO Facilitator Onboarding Process and Application
Vote Cast: YAE
Having review 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.

Gauntlet Recommendations for Polygon V3 and Arbitrum V3
Vote Cast: YAE
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.

[ARFC] E-Mode Specific Supply and Borrow Caps
Vote Cast: NAE
We voted for no change. If we did not vote this way, our next preference was Option 2.

[TEMP CHECK] Defining the Service Provider & Delegation Platform Relationship
Vote Cast: Option 2
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.

[TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH
Vote Cast: 80/20 AAVE/wstETH
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.

MaticX Supply Cap Increase Polygon v3 and AGD Approval
Vote Cast: YAE
We are strongly in support of facilitating the safe growth of LST collateral and yield maximising 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.

Add MAI to Aave Optimism V3 pool
Vote Cast: YAE
Stable coin diversity is good for Aave and we are supportive of MAI’s expansion across several networks.

Upgrade the safety module to v1.5 PART 1
Vote Cast: YAE
Great to see this upgrade coming to AIP with two audits from a very strong developer team. Strongly in favour of this proposal.

Add MAI to Aave Arbitrum V3 pool
Vote Cast: YAE
Stable coin diversity is good for Aave and we are supportive of MAI’s expansion across several networks.

Supply and Borrow Cap Updates Aave V3
Vote Cast: YAE
Glad to support this proposal to support the further safe growth of Aave.

Risk Parameter Updates Aave V3 Polygon
Vote Cast: YAE
We support the continual refinement of risk parameters in line with market conditions.

Upgrade the safety module to v1.5 PART 2
Vote Cast: YAE
Great to see this upgrade coming to AIP with two audits from a very strong developer team. Strongly in favour of this proposal.

Aave V2 Interest Rate Curve Changes (4/21)
Vote Cast: YAE
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.

LST Supply Cap Increase Polygon & Arbitrum
Vote Cast: YAE
We support the continued safe growth of LSTs on Aave deployments and acknowledge support from the risk providers for all proposed parameter changes.

[ARFC] Add LUSD Arbitrum v3
Vote Cast: YAE
We support the diversification of Aave’s stable coin offering.

[TEMP CHECK] - Add support for fUSDC on Ethereum v3 Pool
Vote Cast: YAE
This represents an exciting growth opportunity for Aave and we welcome further exploration of adding fUSDC as collateral on Aave v3 with conservative risk parameters upon being added.

[ARFC] Add 1INCH to Aave V3 Ethereum
Vote Cast: YAE
We are in support of migrating 1inch from v2 to v3. Adding 1inch to the v3 market is the first step in this journey.

[ARFC] Add ENS to Aave V3 Ethereum
Vote Cast: YAE
Similar reasoning to 1inch above.

[ARFC] BUSD Offboarding Plan Part II
Vote Cast: YAE
BUSD is not a good fit for Aave and we support the off boarding effort.

[ARFC] Activate emode for rETH Aave Ethereum V3 Pool
Vote Cast: YAE
Adding rETH to the ETH mode will enable more structured products to be built on Aave v3, promote diversify and will lead to great wETH being borrowed with generates revenue for Aave. We believe this to be low risk and are looking for @bgdlabs to review the oracle used within E-Mode before supporting this proposal at AIP stage of the governance process.

[TEMP CHECK] - Add support for RPL on Ethereum v3
Vote Cast: YAE
We support adding RPL, as we did LDO, and we would like to highlight the extra utility that RPL offers relative to LDO. Hopefully there is strong RPL borrowing demand.

[ARFC] Acquire BB-A-USD and deposit 50% into both Balancer and Aura Finance
Vote Cast: YAE
We are supportive of Aave DAO deploying the treasury to earn. Especially where it is perceived to be low risk and in line with other initiatives within the DAO.

[ARFC] Migrate Holdings from v2 to v3 and acquire wstETH and rETH
Vote Cast: YAE
We are supportive of Aave DAO holding funds in the safer of the two deployments. We also support Aave DAO holding the most battle test LST and holding these assets outside of the liquidity pools. We would advocate to explore how a portion of these assets could be used in the future to earn additional yield.

[ARFC] Consolidate Collector Contract & Secure Service Provider Runway
Vote Cast: YAE
The USDC runway on Aave v2 requires replenishing and the logic presented of swapping small holdings of high volatility assets to aUSDC makes a lot of practical sense for Aave DAO.

Risk Parameter Updates for Ethereum v3 (05/09/2023)
Vote Cast: YAE
We support the controlled increase of the LUSD supply cap.

Aave V3 Interest Rate Curve Changes (4/27)
Vote Cast: YAE
We support the revised interest rate parameters.

AGD Approval
Vote Cast: YAE
We are supportive of this corrective USDT payment for AGD.

MaticX Supply Cap Increase Polygon v3
Vote Cast: YAE
We support the continued safe growth to LSTs across Aave v3 deployments.

[ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool
Vote Cast: YAE
With rETH liquidity on Arbitrum growing, we are supportive of adding rETH to Aave v3 with conservative risk parameters.

[TokenLogic]

Hi everyone,

Following the snapshot vote for the Delegate Code of Conduct.

By this post, the @TokenLogic is officially stating its intent to follow this code and is proud to participate in this initiative.

[TokenLogic]

Hi All,

Please below our Snapshot voting history continuing on from the most recent vote mentioned above. A separate comment to follow will show our AIP voting history.

[ARFC] Consolidate Collector Contract & Secure Service Provider Runway
Vote Cast: YAE
12 months runway should be held in each of the required reserves. This proposal moves towards this direction.

[ARFC] Migrate Holdings from v2 to v3 and acquire wstETH and rETH
Vote Cast: YAE
We are supportive of migrating funds from legacy v2 deployments to v3 and acquiring LSTs within the Treasury.

[ARFC] Acquire BB-A-USD and deposit 50% into both Balancer and Aura Finance
Vote Cast: YAE
We created this proposal and are supportive of improving the efficiency of the DAOs assets whilst accumulating governance influence via token rewards in doing so.

[TEMP CHECK] - Add support for RPL on Ethereum v3
Vote Cast: YAE
We expect to see borrowing demand from RPL’s utility and support the isolation mode risk parameter configuration.

TEMP CHECK - Add support for fUSDC on Ethereum v3 Pool
Vote Cast: YAE
We are supportive of adding productive assets as collateral.

[ARFC] Activate emode for rETH Aave Ethereum V3 Pool
Vote Cast: YAE
We support adding rETH to Category 1 (E-Mode) and enabling users to enter the yield maximising strategy that loops rETH and ETH to generate yield.

[ARFC] BUSD Offboarding Plan Part II
Vote Cast: YAE
We support the continued efforts to offboard BUSD.

[ARFC] Add ENS to Aave V3 Ethereum
Vote Cast: YAE
We support migrating assets from v2 to v3 and adding ENS to v3 with proper risk restrictions enables this to happen.

[ARFC] Add 1INCH to Aave V3 Ethereum
Vote Cast: YAE
We support migrating assets from v2 to v3 and adding 1INCH to v3 with proper risk restrictions enables this to happen.

[TEMP CHECK] Add ARB to Arbitrum Aave v3
Vote Cast: YAE
We support adding the native token to each respective Aave deployment.

[TEMP CHECK] FlashMinter Facilitator Approval
Vote Cast: YAE
We support this development update provide by Aave Companies.

[ARC] Framework For Recognized Delegates](Snapshot)
Vote Cast: YAE
We support recognising the effort of delegates in a more formal capacity.

[ARC] Delegate Code Of Conduct
Vote Cast: YAE
This is a nice improvement and are supporting of introducing a base line of expectations within the DAO.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Ethereum - 2023.05.18
Vote Cast: YAE
We support the analysis and efforts to fine tune the risk parameters presented within this proposal.

[ARFC] Polygon Supply Cap Update 23.05.2023
Vote Cast: YAE
We prepared this proposal and are in support of increasing the supply cap for MaticX on Polygon v3.

[ARFC] Optimism v3 Supply Cap Update
Vote Cast: YAE
We voted in favour of Chaos Lab’s methodology yielding a 21,000 unit wstETH cap.

[ARFC] Optimism Create ETH E-Mode
Vote Cast: YAE
We created this proposal and are in favour of enhancing the LST/ETH yield looping strategies by creation of Category 1 ETH E-mode.

[TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates
Vote Cast: YAE
We are in favour of diversifying the assets held in the Aave SM to reduce the dependency on AAVE.

[TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT
Vote Cast: YAE
Creation of smBPT gauges that replace the standard BPT gauges enhances the efficiency of the overall strategy by removing one of two competing options for where users can deposit the BPT.

[ARFC] Add fUSDC to Ethereum v3
Vote Cast: YAE
We are in favour of adding yield generating assets as collateral.

[ARFC] Add RPL to Ethereum v3
Vote Cast: YAE
We expect to see borrowing demand from RPL’s utility and support the isolation mode risk parameter configuration.

[ARFC] Polygon v3 Supply Cap Update 2023.05.21
Vote Cast: YAE
We support increasing the stMATIC supply cap enabling the stMATIC/wMATIC yield maximising strategy to grow.

[TEMP CHECK] Aave V3 Deployment on Base
Vote Cast: YAE
We are supporting of deploying Aave v3 across various networks with real adoption/usage potential.

[TEMP CHECK] Pyth to Support AAVE on Optimism as a Secondary Oracle
Vote Cast: AGAINST
We do not support the integration of a back up oracle within the Aave Protocol. There is no technical upside of doing so and the feature is not used within the Aave Protocol as it is redundant.

[TEMP CHECK] Aave v3 MVP deployment on Scroll mainnet
Vote Cast: YAE
We are supportive of deploying Aave v3 across various networks to further support Aave’s growth.

[ARFC] Add FRAX to Ethereum Aave v3
Vote Cast: YAE
We co-authored this proposal and are supportive of Aave offer a diverse range of stable coins.

[TEMP CHECK] Add GMX to Arbitrum v3
Vote Cast: YAE
We are supportive of adding GMX to Aave v3 Arbitrum. GMX has experience significant growth during the bear market and is a prominent app within Arbitrum ecosystem.

[ARFC] Add FRAX Arbitrum Aave v3
Vote Cast: YAE
We co-authored this proposal and are supportive of Aave offer a diverse range of stable coins.

[ARFC] Add native USDC to the Arbitrum V3 pool
Vote Cast: YAE
We support introducing native USDC to all Aave v3 deployments.

[ARFC] - Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum - 2023.06.15
Vote Cast: YAE
We support Chaos Labs proposed CRV changes on Aave v2 Ethereum.

[ARFC] Gauntlet Recommendation on TUSD for Aave v2 Ethereum
Vote Cast: YAE
We support the lower LT TUSD option which is the more aggressive of the two options.

[ARFC] Chaos Labs - Incremental Reserve Factor Updates - Aave V2 Ethereum
Vote Cast: YAE
We are supportive of increasing the RF across Ethereum v2. We expect this to help encourage users to migrate to v3.

[ARFC] Chaos Labs Risk Parameter Update - CRV Aave V3 Polygon - 2023.06.20
Vote Cast: YAE
We support reducing the LT and LTV parameters for CRV on Polygon due to declining liquidity conditions.

[TEMP CHECK] Integrating MakerDAO’s DSR into Aave V3 Ethereum Pool
Vote Cast: YAE
We expect this to be a significant source of growth for aave and expect it to lead to higher borrowing rates of stables coins as users loop sDAI and stable coin debt to generate yield.

[TEMP CHECK] GHO Stewards: Agile Parameter Changes
Vote Cast: YAE
Given the success of the Risk Stewards, we are supportive of the introduction of the GHO Steward role to provide the needed flexibility to manage GHO efficiently.

[TEMP CHECK] Allocating part of GHO Revenue to Safety Incentives
Vote Cast: YAE
We are supportive of distributing GHO to SM depositors to further promote the adoption and velocity of the stable coin.

[ARFC] Chaos Labs Risk Parameter Updates - FEI on Aave V2 Ethereum - 2023.6.22
Vote Cast: YAE
We are supportive of the continued deprecation of the FEI stable coin given how FEI Protocol / Tribe DAO is being sunset.

[ARFC] Chaos Labs Risk Parameter Updates - Aave V2 Ethereum - 2023.6.23
Vote Cast: YAE
Given prevailing market conditions, we are supportive of aggressively reducing Aave’s risk exposure.

[ARFC] Gas Rebate for Recognized Delegates
Vote Cast: YAE
We are supportive of reimbursing gas costs to recognised delegates and deployment costs of service providers.

[ARFC] Aave Robot v1 activation
Vote Cast: YAE
We support the introduction of the Aave Robot v1.

[ARFC] Framework for ARFC and TEMP CHECK Proposals
Vote Cast: YAE
We are supportive of the continued iterative effort of ACI to improve Aave’s governance processes.

[ARFC] Gauntlet Risk Parameter Updates for Ethereum v3, Arbitrum v3, Ethereum v2
Vote Cast: YAE
We broadly support the proposed LTV changes that Gauntlet has proposed.

[ARFC] Add rETH Aave v3 Optimism
Vote Cast: YAE
We are the author of this proposal and are supportive of onboarding additional LSTs to support continued demand for native network tokens, like ETH in this instance.

[ARFC] Add GMX to Arbitrum v3
Vote Cast: YAE
We are supportive of adding GMX to Arbitum.

[TEMP CHECK] Aave V3 Deployment on Linea Testnet
Vote Cast: YAE
We are supportive of deploying Aave v3 on various networks to promote the further adoption of the protocol.

[TEMP CHECK] Safety Module Upgrade Part IV - Incentives Management Upgrade
Vote Cast: YAE
We are supportive of creating an incentive committee to support the maintenance of bribe campaign to maintain the yield across SM deposits.

[TEMP CHECK] Safety Module Upgrade Part V - veToken Holding
Vote Cast: YAE
Similar to the previous ARFC, we are a co-author of this proposal and support the management of ve Assets in the DAOs best interest.

[ARFC] - Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum - 2023.07.10
Vote Cast: YAE
We favour of Chaos Labs aggressive reduction of CRV’s LT and LTV on Ethereum v2.

[ARFC] TUSD Offboarding Plan
Vote Cast: YAE
We support the DAO’s continued efforts to offboard TUSD.

[TEMP CHECK] Introducing “Curator” by Llama
Vote Cast: YAE
We support the creation of a contract, “Curator” that enables the DAO to swap assets via the short executor with MEV protection on Cowswap. Do note, TokenLogic lead the design/specification of the “Curator” for Llama.

[ARFC] Reserve Factor Updates - Polygon Aave v2
Vote Cast: YAE
We published this proposal and are supportive of continually increasing the RF parameters on Polygon v2 to further encourage users to migrate from v2 to v3.

[ARFC] Gauntlet - Synchronicity Price Adapter “Killswitch” Functionality for LST Emode
Vote Cast: OPTION 3
We favoured Option 3 relative to the other options based upon the discussion presented on the forum.

[ARFC] Chaos Labs Risk Parameter Updates - MAI on Aave V3 - 2023.7.23
Vote Cast: YAE

[ARFC] GHO Liquidity Pools: Primary Pools Initial Strategy
Vote Cast: YAE
We are the author of this proposal. This proposal is a continual of an earlier TEMP CHECK proposal.

[ARFC] Aave V3 Deployment on Base
Vote Cast: YAE
We support deploying Aave v3 across various networks to support the further adoption and usage of the protocol.

[ARFC] Cancel Llama Service Provider Stream
Vote Cast: ABSTAIN
As we receive payment from Llama we have abstained from participating in this vote.

[ARFC] BUSD Offboarding Plan Part III
Vote Cast: YAE
We support the continued effort to offboard BUSD and expect this proposal to become a good revenue source for Aave DAO throughout the deprecation process.

[ARFC] Aave | Flipside Crypto Facilitator [v2]
Vote Cast: NAY
We do not support the current iteration of Flipside’s proposal as it overlaps with other service provider efforts whilst also introducing unneeded bureaucracy within the DAO.

[ ARFC] Activate LUSD as Collateral on Aave V3 ETH Pool](Snapshot)
Vote Cast: YAE
We support enabling LUSD as collateral on Aave v3. LUSD’s stability pool provides a borrowers an opportunity to earn yield with LUSD. We expect this utility to provide a level of borrowing demand support.

[TEMP CHECK] Treasury Management - Avalanche v2 to v3 Migration
Vote Cast: YAE
As the author of this proposal, we favour the migration of the DAO’s funds from Aave v2 Avalanche to v3.

[ARFC] sDAI Aave V3 Onboarding
Vote Cast: YAE
We are supportive of adding yield generating assets as collateral which are expected to stimulate borrowing demand.

[ARFC] wGHO Aave V3 Onboarding
Vote Cast: YAE
It my be to early in GHO’s life for it to be added to Aave v3. With conservative, appropriate, risk parameter we support adding GHO. We would like liquidity conditions to improve and for this to be reflected in further increases to the supply cap.

[ARFC] Treasury Management - Avalanche v2 to v3 Migration
Vote Cast: YAE
We authored this proposal and support the migration of the DAO’s funds from Aave v2 to v3.

[ARFC] Return OP to Aave Grants DAO Safe
Vote Cast: YAE
We support correcting a past mistake that lead to the OP airdrop being directed to the Guardian address and not AGD address on the Optimism Network.

[ARFC] Increase GHO Borrow Rate
Vote Cast: YAE
This proposal begins to reduce the gap between GHO and other stable coin funding rates. We do not expect increasing the interest rate to fix the peg, but potentially reduce the rate at whihc GHO is being borrowed at.

[ARFC] Enabling USDT as collateral on Aave v3 AVAX Market
Vote Cast: YAE
We support amending USDT on Avalanche to enable it being used as collateral.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Ethereum - 2023.08.25
Vote Cast: YAE
We support Chaos Labs suggested amendments to the Ethereum v3 risk parameters.

[ARFC] Treasury Management - Acquire AURA
Vote Cast: YAE
TokenLogic brokered the deal with Olympus DAO and is supportive of Aave accumulative AURA with the intention of bootstrapping GHO liquidity.

[ARFC] Treasury Management - Replace AGD’s DAI Allowance with GHO Allowance
Vote Cast: YAE
We are supportive of increasing the adoption and velocity of GHO. With AGD using GHO, it sends a positive signal to the market that the DAO will use its own stable coin for payments.

[ARFC] Quarterly Gas Rebate Distribution - August 2023
Vote Cast: YAE
TokenLogic is a beneficiary of this proposal and supports the gas costs of recognised delegates being reimbursed.

[TEMP CHECK] Update Balancer Ecosystem Holdings
Vote Cast: YAE

[ARFC] Gauntlet Interest Rate Recommendation for WETH
Vote Cast: YAE
Given how the yield from ETH LSTs has faded over time, we are supportive of reducing the Slop1 parameter to be inline / narrowly below the leading LST yield. Upon implementation, this should lead to additional LST/ETH looping and greater ETH revenue as the volume of debt offsets the reduced revenue per unit of ETH debt.

[ARFC] Gauntlet recommendation for WETH Uopt on Ethereum v3
Vote Cast: OPTION 3
We favour the No Change option which is to leave the Uoptimal parameter as is. Generally, the higher the Uoptimal value the more capital efficient the reserve.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Avalanche - 2023.09.06
Vote Cast: YAE
We support the risk parameter amendments as present by Chaos Labs for the Avalanche v3 deployment.

[ARFC] wGHO Aave V3 Onboarding
Vote Cast: YAE
We are supportive of adding wGHO to the Ethereum v3 deployment, even more so when liquidity conditions improve.

[ARFC] OP Risk Parameters Update for Aave V3 Optimism Pool
Vote Cast: YAE
We support enabling borrowing of OP on the Optimism Aave v3 deployment. We expect this to generate revenue, but are unsure as to if this will become a meaningful revenue driver.

[ARFC] Safety Module - Polygon & Avalanche Coverage Update
Vote Cast: YAE
To further support the migration of users from v2 to v3, we proposed removing the SM’s coverage from v2 deployments on Polygon and Avalanche.

[ARFC] Expansion of “Orbit” - A DAO Funded Delegate Platform Initiative
Vote Cast: YAE
We support the migration of Orbits funding from the ACI to the Aave DAO.

[TEMP CHECK] Treasury Management - Swap B-80BAL-20wETH to GHO
Vote Cast: YAE
With Balancer’s support we propose swapping a portion of the Aave DAOs B-80BAL-20WETH to GHO to fund the AURA OTC swap with Olympus DAO. This is part of a broader strategy to improve the overall efficiency of the DAO’s strategic assets.

[TEMP CHECK] Treasury Management - Create and Fund GHO Liquidity
Vote Cast: YAE
We proposed creating the GHO Liquidity Committee to help support GHO liquidity across several DEX with the use of incentives. This proposal provides the initial funds to support this endeavour.

[ARFC] Treasury Management - GHO Liquidity Strategy Update
Vote Cast: YAE
This publication proposes a revised approach to GHO liquidity across the ecosystem. We voted in favour of this revised approach that includes the use of Bunni and Liquis, built on Uniswap, to grow concentrated liquidity outside of the Balancer ecosystem.

[TEMP CHECK] Add KNC to Ethereum Aave V3
Vote Cast: YAE
We are in favour of adding KNC to Aave v3 Ethereum with proper risk controls in place.

[TEMP CHECK] Onboard STG to Ethereum Aave v3
Vote Cast: ABSTAIN
We don’t believe there is sufficient demand for using STG as collateral on Aave v3 to support adding the token at this point in time.

[ARFC] TUSD Offboarding Plan Part II
Vote Cast: YAE
We are in favour of the continued offboarding of TUSD. To date, we have observed a meaningful increase in TUSD from efforts to date.

[ARFC] Aave V3 Deployment on zkEVM L2
Vote Cast: YAE
We are supportive of deploying Aave v3 across many networks to support the continued growth and adoption of Aave Protocol.

[ARFC] Treasury Management - GHO Funding
Vote Cast: YAE
We advocate for the Aave DAO to increase the usage of GHO as a signal of support for GHO to the broader market. In order to funds Service Providers and Grant DAO alike, GHO is to be acquired from secondary markets.

[ARFC] Aave V3 Deployment on GnosisChain
Vote Cast: YAE
We are supportive of deploying Aave v3 across many networks to support the continued growth and adoption of Aave Protocol.

[TEMP CHECK] Updated Aave Grants Continuation Proposal
Vote Cast: YAE
Based upon the latest updates on the forum, we are supportive of this proposal presented by the Aave Grants DAO.

[ARFC] Aave V2 Markets Deprecation Plan
Vote Cast: YAE
We are supportive of Gauntlet’s plans/intent to deprecate Aave v2 on Ethereum.

[ARFC] Treasury Manage - GHO Liquidity Committee
Vote Cast: YAE
We advocate for the creation and funding of the GHO Liquidity Committee to support the ongoing liquidity needs of GHO across the ecosystem.

[ARFC] Treasury Management - Amend Safety Module AAVE Emissions
Vote Cast: YAE
We advocate for reducing the amount of AAVE being distributed to SM participants. We believe the level of rewards can be reduced without meaningfully impacting deposits whilst also making a considerable cost saving for the DAO.

[TEMP CHECK] Aave Events & Sponsorship Budget
Vote Cast: YAE
We are supportive of providing funding to Aave Companies to represent the DAO at various conferences and events over the next 3 to 6 months.

[TEMP CHECK] Add FXS to Ethereum V3
Vote Cast: YAE
We support adding FXS to Aave v3 on Ethereum as it promotes diversity and FXS has utility within the Frax ecosystem.

[ARFC] TokenLogic Hohmann Transfer
Vote Cast: ABSTAIN
We abstained as TokenLogic benefits if this proposal is approved by governance.

[ARFC] Transfer Assets From Polygon To Ethereum Treasury
Vote Cast: YAE
We support the migration of strategic assets BAL and CRV to Ethereum where they can be deployed wot earn yield and support GHO better. We also are supporting of bolstering Aave’s runway by transferring USDC to Ethereum.

[ARFC] Further increase GHO Borrow Rate
Vote Cast: YAE
We support increasing GHO’s borrow rate to be more reflective of other stable coin borrowing rates.

[TEMP CHECK] stEUR Onboarding on Aave V3 Ethereum Pool
Vote Cast: YAE
We are supportive of stable coin diversity.

[TEMP CHECK] CRVUSD Onboarding on Aave V3 Ethereum Pool
Vote Cast: YAE
We are supportive of stable coin diversity and potential synergies between GHO and crvUSD.

[ARFC] Aave Events & Sponsorship Budget
Vote Cast: YAE
We are supportive of this follow up proposal to the TEMP CHECK submitted earlier.

[ARFC] Add FXS to Ethereum V3
Vote Cast: YAE

[ARFC] Gauntlet recommendation for MAI / MIMATIC deprecation
Vote Cast: OPTION 2
We favour the more aggressive option presented by Gauntlet as the liquidation values are minimal.

[ARFC] Upgrade Aave V3 ETH pool wETH parameters
Vote Cast: *OPTION 2
Given the current POS derived yield, we are supportive of the lower Slope1 parameter and improving Aave’s overall competitiveness relative to Spark.

[ARFC] sDAI Onboarding on Aave V3 Gnosis Pool
Vote Cast: YAE
sDAI is a great collateral that should help drive a minimum level of borrowing demand for most stable coins.

[ARFC] Treasury Management - Add to rETH Holding
Vote Cast: YAE
We favour supporting network diversity and increasing Aave’s exposure to rETH relative to wstETH at this point in time.

[ARFC] ACI Phase II
Vote Cast: YAE
The ACI has delivered a lot of value to the Aave ecosystem and we support there continued efforts to support Aave’s growth over the next 6 months.

[ARFC] Aave Funding Update
Vote Cast: YAE
We are the author of this proposal and are supportive of Aave DAO having around 12 months of runway available at all times.

[ARFC] Chaos Labs <> Aave Risk Management - Renewal
Vote Cast: YAE
Chaos Labs is the best performing Risk Service Provider in the Aave ecosystem and we are supportive of there continued contributions to the DAO/Protocol.

[ARFC] Chaos Labs - CRV Aave V3 Polygon - LT Reduction - 10.28.2023
Vote Cast: YAE
We are supporting of reducing the CRV LT on Polygon in line with Chaos Labs recommendation.

[ARFC] GHO - Increase Borrow Rate
Vote Cast: YAE
We are supportive of increasing GHO’s borrowing rate until it is similar to other major stable coins on Aave v3 Ethereum.

[ARFC] wMATIC Interest Rate Update
Vote Cast: YAE
We are the author of this proposal and are supportive of reducing the wMATIC Slope1 parameter to encourage users to loop stMATIC / wMATIC to generate yield.

[ARFC] Aave Swap Upgrade
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[TEMP-CHECK] Create an Aave Financial Management Working Group
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[ARFC] Increase Stablecoin Optimal Borrow Rates
Vote Cast: YAE
Given recent borrowing demand pushing utilisation above the Uoptimal point on the IR curve, we are supportive of adjusting the Slope1 parameter to better reflect current demand for stable coin debt.

[Temp Check] GHO Bounty for Integration Issue Detection
Vote Cast: YAE
We support recognising the efforts of those who find way to improve the Aave Protocol. Especially those that contribute to the security of user funds.

[ARFC] Treasury Management - vlAURA
Vote Cast: YAE
We prepared this proposal to use the StrategicAssetManager contract built by Llama as intended.

[ARFC] TokenLogic - Retrospective Funding Proposal
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[ARFC] Arbitrum USDC Migration
Vote Cast: YAE
We are supportive of the broader efforts to move away from bridged USDC to native USDC on each Aave deployment.

[ARFC] Increase Uopt for Stablecoins on all V3 Deployments and RF on V2 Ethereum
Vote Cast: YAE
Increasing the RF on v2 for stable coins will increase revenue to the DAO. Increasing the Uoptimal on v3 will improve the capital efficiency of each affected reserve. We are supportive of both initiative mentioned in this proposal.

[ARFC] Authorizing Use of Grace Sentinel
Vote Cast: YAE

[ARFC] CRVUSD Onboarding on Aave V3 Ethereum Pool
Vote Cast: YAE
We are supportive of stable coin diversity and look forward to potential synergies with crvUSD beyond the Aave Protocol.

[ARFC] Treasury Management - auraBAL
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[ARFC] Gauntlet Cap Recommendations for Polygon v3
Vote Cast: YAE
We are supportive of the risk parameter adjustments proposed by Guantlet within this proposal.

[ARFC] Gauntlet recommendation to lower stMATIC, MaticX non-emode LT, pt 2
Vote Cast: NO CHANGE
We do not believe the LTV and LT of stMATIC and MaticX should be decreased relative to wMATIC.

[ARFC] Chaos Labs Risk Parameter Updates - Increase MKR Debt Ceiling on V3 Ethereum - 11.07.2023
Vote Cast: YAE
Given the prevailing market conditions, we are supportive of increasing the MKR Debt Ceiling gradually as user demand reflects.

[TEMP CHECK] Qualify the security incident 04-11-2023 as a shortfall event
Vote Cast: NAY
We do not believe that prudent risk management and precautionary measures implemented by the Guardian in this instance qualifies as a shortFall event and use of the SM.

[ARFC] Onboard Native USDC to Aave V3 Optimism Market
Vote Cast: YAE
We are supportive of onboarding native USDC to all Aave markets.

[TEMP CHECK] Onboarding sfrxETH to Aave V3 Ethereum Market
Vote Cast: YAE
We believe the yield from sfrxETH could lead to additional ETH borrowing demand and thus revenue to the DAO. Provided both risk providers are supportive of onboarding sfrxETH, we are also supportive.

[TEMP CHECK] Onboarding ETHx to Aave V3 Ethereum Market
Vote Cast: YAE
Having worked with the Stader Labs team closely on many occasions we are supportive of ETHx. being added to the Ethereum v3 deployment.

[ARFC] Onboarding wstETH to Aave V3 on Base Network
Vote Cast: YAE
Given the TVL derived from wstETH deposits and the resulting ETH borrowing demand, we are supportive for wstETH to be added to all Aave v3 deployments where there is sufficient supporting liquidity.

[ARFC] Gauntlet Recommendation to re-enable CRV borrowing on v3 Ethereum/Polygon
Vote Cast: YAE
Given the prevailing market conditions for CRV, we are supportive of Gauntlet’s recommendation to enable CRV borrowing across Polygon and Ethereum v3 deployments.

[ARFC] Update the Asset Onboarding Framework
Vote Cast: YAE
We are supportive of the iterative improvement on the various Aave governance processes.

[TEMP CHECK] onboard osETH to Aave v3 on Ethereum pool
Vote Cast: YAE
Similar to ETHx, we are supportive of further Aave’s LST diversity. Do note, @MatthewGraham resides on the StakeWise Liquidity Committee for osETH.

[TEMP CHECK] Add EURC to Avalanche Aave V3
Vote Cast: NAY

[TEMP CHECK] Financial Services Proposal: karpatkey & TokenLogic
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[ARFC] Upgrade Safety Module with StkGHO
Vote Cast: YAE
We are supportive of adding stkGHO to the Aave SM. This utility is expected to stimulate demand and help support the GHO peg in the short term. We are also supportive of diversifying the assets within the SM.

Freeze price feeds on v3 Harmony following shutdown of Harmony services by Chainlink
Vote Cast: YAE

[ARFC] Gauntlet <> Aave Renewal 2023
Vote Cast: NAY
Details supporting the NAY vote can be found on the ARFC thread.

[ARFC] New Chain Deployment Framework
Vote Cast: YAE
We are supportive of the iterative improvement on the various Aave governance processes.

[ARFC] Update GNO Risk Parameters on Aave V3 Gnosis Pool
Vote Cast: YAE

[ARFC] Onboarding ETHx to Aave V3 Ethereum Market
Vote Cast: YAE
We are supportive of LST diversification and the continued collaboration with Stader Labs.

Disclosure: TokenLogic is currently in discussions with Stader Lab’s relative to Treasury Management services.

[ARFC] Onboarding sfrxETH to Aave V3 Ethereum Market
Vote Cast: YAE
We are supportive of LST diversification and expect the addition of sfrxETH to lead to higher ETH borrowing demand due to the elevated yield that sfrxETH offers relative to other LSTs.

[ARFC] Continuous Security Proposal Aave <> Certora
Vote Cast: NAY
We are supportive of Certora’s on going contribution to the Aave DAO and only request AAVE be replaced with another asset. When the AIP is presented, we intend to vote in favour as the composition of the funding is agreed with the ARFC vote being complete.

[TEMP CHECK] AAVE V3 Harmony Recovery ONE Proposal
Vote Cast: YAE

[ARFC] TokenLogic & karpatkey Service Provider Partnership
Vote Cast: ABSTAIN
TokenLogic benefits if this proposal is approved by governance and therefore we ABSTAIN from the vote.

[TokenLogic]

Hi Everyone,

Please see below our AIP voting history that continues on from the early post.

Fix rate strategies issue on Aave v2 Polygon
Vote Cast: YAE
We support correcting the errors from AIP 224.

wMATIC Supply & Borrow Cap Increase Polygon v3
Vote Cast: YAE
We support the continued growth of LST adoption on Aave Protocol.

Activate Emode for rETH Aave Ethereum V3
Vote Cast: YAE
We support this proposal and expect it to help drive borrowing demand for ETH.

Aave Stablecoin E-mode changes for V3 Avalanche, Optimism, Polygon, and Arbitrum
Vote Cast: YAE
We support refining the stable coin e-mode category parameters as recommended by Gauntlet.

Caps Plus Risk Steward
Vote Cast: YAE
Introducing the Risk Cap Steward role will reduce governance overhead by reducing the need for adjusting Supply Caps via governance.

DeFi Saver Aave V3 FlashBorrowers Whitelist Part II
Vote Cast: YAE
DeFi Save is a long term partner of Aave DAO’s and along with other builders, we support removing flashloan fees for there users.

Polygon Supply Cap Update
Vote Cast: YAE
We support the continued expansion of LST Supply Caps to support further deposit and borrowing of native network token growth.

Add rETH to Arbitrum Aave v3
Vote Cast: YAE
We support adding rETH with the recommended risk parameters. The added diversity and potential resulting borrowing demand is great for both Aave DAO and its users.

Add LUSD to Arbitrum Aave V3
Vote Cast: YAE
We support stable coin diversity and LUSD is the only immutable option.

Add ENS to Aave V3 Ethereum
Vote Cast: YAE
We support adding ENS to enable users migration from v2 to v3.

Add 1INCH to Aave V3 Ethereum
Vote Cast: YAE
We support adding 1INCH to enable users migration from v2 to v3.

Risk Parameter Updates for AAVE V2 Ethereum
Vote Cast: NAY
We believe there are better alternative options to explore that achieve a more optimal result.

Risk Parameter Updates Aave V3 Ethereum
Vote Cast: YAE
We support the risk parameters adjustments as presented by Chaos Labs on the forum.

Polygon v2 - Parameter Update
Vote Cast: YAE
TokenLogic is the author of this proposal and it is intended to encourage users to migrate from v2 to v3 on Polygon and does so without putting any user funds at risk.

Price feeds operational update Pt2 - stETH
Vote Cast: YAE
We support this oracle upgrade.

Add Native USDC To Arbitrum V3 Pool
Vote Cast: YAE
We support adding native USDC on all Aave v3 deployments.

Chaos Labs V2 to V3 Migration Next Steps
Vote Cast: YAE
We are supportive of encouraging users to migrate from v2 to v3 and also the methodology as proposed by Chaos Labs.

Freeze TUSD Reserve on Aave V2 Ethereum
Vote Cast: YAE
We support off boarding TUSD and expect the methodology applied to generate meaningful revenue for the DAO.

Chaos Labs - Payment Collection Request
Vote Cast: YAE

Chaos Labs Risk Parameter Updates - CRV Aave V2 Ethereum
Vote Cast: YAE
We are supportive of reducing Aave’s exposure to CRV on v2 Ethereum and acknowledge the proposed changes have a very minor impact on users.

Lower TUSD LT and LTV on Aave V2
Vote Cast: YAE
We support lowering these two risk parameters for TUSD.

Treasury Management - Acquire wstETH & rETH
Vote Cast: YAE
We are supportive of the Aave DAO holding wstETH and rETH, diversification of LSTs and for these assets to be held outside of there respective reserves and instead held with in the Collector Contract.

Price feeds operational update Pt2.5 - wstETH
Vote Cast: YAE

Gas Rebate for Recognized Delegates
Vote Cast: YAE
We support reimbursing gas costs of the DAO recognised delegates.

Chaos Labs Risk Parameter Update - CRV Aave V3 Polygon
Vote Cast: YAE
We are supportive of reducing exposure to CRV on Polygon via reducing the LTV and LT thresholds.

Chaos Labs - Increase wstETH Supply Cap on V3 Arbitrum
Vote Cast: YAE
We support increasing wstETH supply cap on Arbitrum in line with Chaos Lab’s DAO support methodology.

Ethereum v2 - Parameters Update
Vote Cast: YAE
We are supportive of increasing the RF parameters on Ethereum v2 to further encourage migration to v3.

Treasury Management - Acquire B-80BAL-20WETH
Vote Cast: YAE
We support swapping the DAOs BAL to B-80BAL-20WETH with the intention of locking it for veBAL.

GHO Mainnet Launch
Vote Cast: YAE
We support launching GHO and look forward to supporting its adoption across DeFi.

Gauntlet Cap Updates for Ethereum, Optimism Aave v3
Vote Cast: YAE
We support the proposed cap changes.

Add RPL to Aave V3 Ethereum pool
Vote Cast: YAE
We are supportive of adding RPL as collateral. We expect there to be some borrowing demand for RPL by prospective node operators.

Make USDT a collateral for Aave V3 ETH Pool
Vote Cast: YAE
USDT is one of the most dominant stable coins and has great liquidity. We support listing USDT as collateral on Aave v3 with sound risk parameter configuration.

Chaos Labs Risk Parameter Updates - Aave V2 Ethereum
Vote Cast: YAE
We support Chaos Lab’s proposed risk parameter adjustments.

add ARB to Aave V3 Arbitrum Pool
Vote Cast: *YAE
We support adding ARB to the Arbitrum v3 deployment.

Bug Bounty May 2023
Vote Cast: YAE
We support rewarding the efforts of bug hunters as outlined in this proposal.

Add rETH Aave v3 Optimism
Vote Cast: YAE
We support LST diversity on all Aave v3 deployments and expect rETH to drive additional demand for ETH debt.

MaticX Polygon Supply Cap Update
Vote Cast: YAE
We support the continued growth of MaticX on Polygon.

Gauntlet Risk Parameter Updates for Ethereum v3, Arbitrum v3, Ethereum v2
Vote Cast: YAE

MaticX Polygon Supply Cap Update
Vote Cast: YAE

Chaos Labs Risk Parameter Update - MAI Aave V3
Vote Cast: YAE

Set Metis Foundation Wallet as Emission Manager for METIS Token on Aave V3 Metis Pool
Vote Cast: YAE
We support enabling the Metis Foundation to distribute METIS on the Aave v3 deployment on the Metis Network.

Acquire More aUSDC on Aave Ethereum Collector
Vote Cast: YAE
We support converting asset to USDC and depositing into Aave v2 in order to pay service providers.

Chaos Labs Risk Parameter Updates - FEI on Aave V2 Ethereum
Vote Cast: YAE
We support continually reducing Aave’s exposure to the FEI stable coin.

Reserve Factor Updates - Polygon Aave v2
Vote Cast: YAE
We support the continue deprecation of Polygon v2 by continually increasing the RF parameter.

TUSD offboarding plan
Vote Cast: YAE
We support offboarding TUSD.

Gauntlet Recommendation for CRV LTV → 0 on Aave v2 Ethereum
Vote Cast: YAE
We support setting CRV’s LTV to 0 on Ethereum v2.

Gauntlet Recommendation to reduce CRV LT, LTV, debt ceiling on V3 Ethereum and CRV LT, LTV on V3 Polygon
Vote Cast: YAE

aCRV OTC Deal
Vote Cast: YAE
We support acquiring CRV via OTC with Michael with the intent of using the CRV to support GHO’s liquidity.

Reduce CRV LT by 6%
Vote Cast: YAE
We support the continued efforts of the risk service providers to reduce Aave’s exposure to CRV on Ethereum v2.

Disable CRV Borrowing For Ethereum and Polygon V3
Vote Cast: YAE
We support the continued efforts of the risk service providers to reduce Aave’s exposure to CRV on Polygon v3.

BUSD Offboarding Plan Part III
Vote Cast: YAE
We support the offboarding of BUSD and expect this process to generate meaningful revenue for the DAO.

Supply Cap increase - wstETH
Vote Cast: YAE
We support the continued growth of LST deposits on Aave v3 deployments.

LUSD collateral activation
Vote Cast: YAE
We support enabling LUSD as collateral on Ethereum v3.

stataToken operational update
Vote Cast: YAE
We support transferring the help contracts used exclusively by Balancer from Aave to Balancer.

Aave v3 Base Activation
Vote Cast: YAE
We support the expansion of Aave v3 to networks that are expected to generate meaningful TVL over time.

Increase MaticX supply cap
Vote Cast: YAE
We support the continued growth of LST deposits on Aave v3 deployments.

Swap assets to aUSDC
Vote Cast: YAE
We support the continued consolidation of assets to support the DAO’s finances.

Chaos Labs Scope and Compensation Amendment
Vote Cast: YAE
We support Chaos Labs expanding there contracted scope to cover all Aave v2 deployments and GHO.

CRV Aave V2 Ethereum - LT Reduction
Vote Cast: YAE
We support continuing to reduce Aave’s exposure to CRV on the Ethereum v2 deployment.

Treasury Management - Polygon v2 to v3 Migration
Vote Cast: YAE
We support the DAO holding its funds in the latest version of Aave Protocol.

sDAI onboarding
Vote Cast: YAE
We expected sDAI to attract a significant amount of deposits.

GHO unpause and freezing
Vote Cast: YAE

GHO update on Aave V3 Ethereum Pool
Vote Cast: YAE
We support implementing the proposed fix to the GHO integration with the Aave v3 pool.

Chaos Labs Risk Parameter Updates - Aave V3 Optimism
Vote Cast: YAE
We support the proposed risk parameter adjustments as recommended by Chaos Labs.

Aave BGD Phase 2
Vote Cast: YAE
We support the continuation of BGD’s service as the main developer team supporting the protocol.

Funding Aave Robot for Governance V2 Automation
Vote Cast: YAE

Chaos Labs Risk Parameter Updates
Vote Cast: YAE
We support the proposed risk parameter adjustments as recommended by Chaos Labs.

Quarterly Gas Rebate Distribution August 2023
Vote Cast: YAE
We support reimbursing the gas costs of delegates and developers serving the Aave Protocol.

Freeze MAI/MIMATIC, set LTV → 0 for Arbitrum, Avalanche, Polygon, Optimism v3
Vote Cast: YAE
We support the proposed risk parameter adjustments as recommended by Gauntlet.

AURA OTC Deal
Vote Cast: YAE
TokenLogic brokered this deal with Olympus DAO and supports the proposed terms.

Freeze Stewards
Vote Cast: YAE
We support the synchronisation of emergency admin’s ability to freeze reserves across all networks.

Chaos Labs Risk Parameter Updates _ Aave V3 Ethereum
Vote Cast: YAE
We support the proposed risk parameter adjustments as recommended by Chaos Labs.

Aave V3 Ethereum MKR Debt Ceiling Update
Vote Cast: YAE
We support increasing the Supply Cap to enable more deposits into the MKR reserve.

GHO Borrow Rate Update
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

[ Rescue Mission Phase 2, 3]( Rescue Mission Phase 2, 3)
Vote Cast: YAE
We support returning funds that were erroneously sent to the Aave ecosystem smart contracts.

Aave <> Immunefi program activation
Vote Cast: YAE
We support the introduction of a bug bounty program with Immunefi.

CRV Aave V2 Ethereum LT Reduction
Vote Cast: YAE
We support reducing CRV’s LTX on Ethereume v2 and further reducing Aave’s exposure to CRV.

Aave treasury RWA Allocation Part I
Vote Cast: YAE
We support Aave DAO showing support for Centrifuge by allocating funds to RWA as a Business Development strategy. We note the yield generated from T-Bills is less than the deposit yield of Aave v3.

Expansion of Orbit
Vote Cast: YAE
We support transferring the costs associated with delegate funding from ACI to the Aave DAO.

TUSD Offboarding Plan Part II
Vote Cast: YAE
We support the continual offboarding of TUSD.

OP Risk Parameters Update
Vote Cast: YAE
We support enabling OP as a borrowable asset on Optimism v3.

Add DebtSwapAdapter as FlashBorrower
Vote Cast: YAE
We support this infrastructure upgrade.

Gauntlet Recommendations to Lower stMATIC/MaticX non-emode LT/LTV on Polygon v3
Vote Cast: YAE
We support the proposed risk parameter changes for MATIC LSTs on Polygon v3 as proposed by Gauntlet.

v2 Deprecation Plan, 2023.10.03
Vote Cast: YAE
We support the continued deprecation of v2 deployments.

KNC onboarding on AaveV3 Ethereum market
Vote Cast: YAE
We support adding a diverse array of assets as collateral. However, we do not expect this asset to results in material revenue generation. We hope to see future GHO synergies realised as a result of these two communities working more closely together.

Gauntlet Recommendations to Lower WETH Variable Base to 0 on Arbitrum, Optimism v3
Vote Cast: YAE
We support reducing the wETH borrowing rate and making wETH debt more attractive to users.

STG onboarding on AaveV3 Ethereum Market
Vote Cast: YAE
We support adding a diverse range of assets to Aave v3. Similar to KNC though, we do not think this listing will contribute any meaningful revenue to the DAO.

Fund GHO Liquidity Committee
Vote Cast: YAE
TokenLogic proposed this AIP and is supportive of creating with funding the GHO Liquidity Committee to support GHO’s DEX Liquidity.

Enable borrow of OP token
Vote Cast: YAE
We support enabling users to borrow the OP token in line with previous AIP-337.

Futher Increase GHO Borrow Rate
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

Transfer Assets From Polygon To Ethereum Treasury
Vote Cast: YAE
TokenLogic proposed this AIP and is supportive of the Aave DAO holding its assets within the latest instance of Aave Protocol.

Events Funding
Vote Cast: YAE
We are supportive of Aave Companies leading the DAO marketing efforts via this event planning proposal.

Prices operational update. Unify disabled fallback oracles
Vote Cast: YAE
We are supportive of this technical upgrade by BGD that unifies the v1, v2 and v3 fallback oracles.

Enhancing Aave DAO’s Liquidity Incentive Strategy on Balancer
Vote Cast: YAE
We support using the DAO B-80BAL-20WETH holding as outlined in the proposal. We would also like the DAO to consider the compounding auraBAL strategy to steadily grow the vlAURA holding over time.

Reserve Factor Update October 2023
Vote Cast: YAE
TokenLogic wrote this payload and supports the continued increase of the RF on Polygon v2 in effort to encourage users to migrate to v3.

Governance v2.5 Activation
Vote Cast: YAE
We support the partial activation of Aave Governance v3 in an interim Aave Governance v2.5 version

ACI Phase II
Vote Cast: YAE
We support the continuation of the ACI <> Aave DAO partnership and look forward to continuing our work with ACI team.

Aave v3 Gnosis Activation
Vote Cast: YAE
We support the continued role out of Aave v3 across various networks.

Disable Stable Borrows
Vote Cast: YAE
We support disabling stable borrow rates across all reserves on all networks in response to the attack vector that was discovered.

Multichain Stable Debt Token Upgrades
Vote Cast: YAE
We support this technical upgrade proposed by BGD.

Fixed REP price feed on AAVE v1
Vote Cast: YAE
We support this technical upgrade proposed by BGD.

Chaos Labs Risk Management Renewal
Vote Cast: YAE
We support the continuation of the Chaos Labs <> Aave DAO partnership and look forward to continuing our work with Chaos Labs team.

Liquidations Grace Sentinel activation
Vote Cast: YAE
We support this technical upgrade proposed by BGD.

Aave V2 Ethereum LT Reduction
Vote Cast: YAE
We support the LT reductions on Ethereum v2 as suggested by Chaos Labs and Gauntlet.

Activate Freezing Steward on v3 missing networks
Vote Cast: YAE
We support this technical upgrade proposed by BGD.

GHO - Increase Borrow Rate
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

AmendSafetyModuleAAVEEmissions
Vote Cast: YAE
TokenLogic jointly presented this proposal with ACI and supports reducing the AAVE emissions across the SM.

Reserve Factor Updates - Polygon Aave v2
Vote Cast: YAE
TokenLogic is the originator of this proposal and supports encouraging users to migrate from v2 to v3 on Polygon by continually increasing the RF value towards 99.99% over time.

Upgrade Aave V3 ETH Pool wETH parameters
Vote Cast: YAE
We support reducing the slope1 parameter to make looping wstETH/wETH and other LSTs/wETH more competitive on Aave v3.

wMATIC Interest Rate Update
Vote Cast: YAE
TokenLogic is the originator of this proposal and supports reducing the wMATIC borrow rate to encourage users into the LST/wMATIC looping strategy on Polygon v3.

Chaos Labs CRV Aave V3 Polygon LT Reduction
Vote Cast: YAE
We support the continued CRV exposure efforts from Chaos Labs.

Treasury Management - Add to rETH Holding
Vote Cast: YAE
TokenLogic was the author of this proposal. We support increasing the DAOs exposure to rETH and aligning the DAO with further decentralising the distribution of node operators.

Add FXS to Ethereum V3
Vote Cast: YAE
We support the addition of FXS to Ethereum.

Increase Stablecoin Optimal Borrow Rates
Vote Cast: YAE
Market conditions have been buoyant of late and given the strong demand for stable coins, we support increasing the stable coin borrow rates.

MAI/MIMATIC deprecation, 2023.10.31
Vote Cast: YAE
Given MAI’s peg performance of late, it is prudent the DAO reduces exposure to this asset.

Gauntlet recommendation to lower stMATIC, MaticX non-emode LT, pt 2
Vote Cast: YAE
Stable coin debt linked to MaticX and stMATIC is high and we support reducing the non-eMode LT to reduce Aave’s overall risk exposure.

CRVUSD onboarding on Aave V3 Ethereum
Vote Cast: YAE
We support adding crvUSD to promote stable coin diversity but also due to the potential business initiatives that could happen with the Curve ecosystem.

Chaos Labs Risk Parameter Updates - Increase MKR Debt Ceiling on V3 Ethereum
Vote Cast: YAE
We support Chaos Lab’s proposal to increase the MKR debt ceiling.

Gauntlet Cap Recommendations for Polygon v3
Vote Cast: YAE
We support Gauntlet’s effort to adjust the supply caps on Polygon v3 to better reflect current deposit amounts.

Increase GHO Borrow Rate
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

V2 Deprecation Plan, 2023.11.20
Vote Cast: YAE
We support the sunsetting v2 deployments and reducing the Liquidation Thresholds is a key way to entice users to migrate to v3.

Increase GHO Borrow Rate
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

Onboard Native USDC to Aave V3 Optimism
Vote Cast: YAE
We support the introduction of native USDC across all Aave v3 deployments.

AmendSafetyModuleAAVEEmissions
Vote Cast: YAE
TokenLogic was a joint contributor on the ARFC and fully supports this initiative.

Allow Emergency Admin to freeze on Aave V2
Vote Cast: YAE
We support this technical upgrade by BGD Labs.

Onboarding wstETH to Aave V3 on Base Network
Vote Cast: YAE
We support adding wstETH to Aave v3 on Base Network with a conservative risk profile.

Gauntlet <> Aave Renewal 2023
Vote Cast: NAY
In line with the ARFC and comment on the respective ARFC thread, we do not support renewing Gauntlet’s contract for another 12 months.

Aave Funding Updates
Vote Cast: YAE
TokenLogic was the author of this proposal and we intend to ensure there is 12 months run way available to the DAO at all times.

Reserve Factor Updates - Polygon Aave v2
Vote Cast: YAE
TokenLogic is the originator of this proposal and supports encouraging users to migrate from v2 to v3 on Polygon by continually increasing the RF value towards 99.99% over time.

Aave Governance V3 Activation
Vote Cast: YAE
We support this technical upgrade by BGD Labs.

Chaos Labs RF and IR Updates - Aave V2 Ethereum
Vote Cast: YAE
We support the proposed interest rate strategy and RF amendments for Aave v2 Ethereum.

Transfer AURA to GLC Safe
Vote Cast: YAE
TokenLogic is the originator of this proposal and supports enabling the DAO to use its funds in the best interest of the DAO. On this occasion, that is deploying AURA to vlAURA on the GLC SAFE.

GHO update on Aave V3 Ethereum Pool for 13/11/2023 Report
Vote Cast: YAE
We support this technical upgrade presented by Aave Labs.

Gauntlet recommendation to reactivate CRV borrowing on v3
Vote Cast: YAE
With market conditions for CRV, no improved, we support re-activating borrowing of CRV on Polygon and Ethereum v3.

Chaos Labs V2 Ethereum and Polygon LT Reductions
Vote Cast: YAE
We support the risk parameter adjustments as outline in the proposal.

Increase Polygon wstETH Supply Cap
Vote Cast: YAE
We support the continued growth of LSTs on Polygon.

Increase GHO Borrow Rate 100 bps to ~6.41% on Aave V3
Vote Cast: YAE
GHO has deviated from peg and the borrow rate is materially less than alternative stable coins. We support continually increasing the borrow rate until the rate is more closely aligned with other major stable coins.

Sync emergency admin on v2 AMM
Vote Cast: YAE
We support this technical upgrade presented by BGD Labs.

Activate Proof of Reserve
Vote Cast: YAE
We support this technical upgrade presented by BGD Labs.

Treasury Management - Add to rETH Holding (resubmission)
Vote Cast: YAE
TokenLogic was the author of this AIP and we support the Aave DAO holding a diversified portfolio of LSTs.

Polygon V2 Reserve Factor Updates
Vote Cast: YAE
TokenLogic is the originator of this proposal and supports encouraging users to migrate from v2 to v3 on Polygon by continually increasing the RF value towards 99.99% over time.

Onboard Native USDC to Aave V3 Markets
Vote Cast: YAE
We support onboarding native USDC to all Aave v3 deployments.

Treasury Management - Polygon v2 to v3 Migration
Vote Cast: YAE
We support Aave DAO holding its assets in the latest version of Aave Protocol.

Continuous Security Proposal Aave <> Certora
Vote Cast: YAE
We preferred Certora to not be remunerated with AAVE, but otherwise, we are supportive of Certora being the main Security Service Provider to the DAO.

Update GNO Risk Parameters on Aave V3 Gnosis Pool
Vote Cast: YAE
We support enabling the borrowing of GNO on Aave v3 Gnosis.

Transfer all CRV positions from Ethereum Mainnet Collector to GLC Safe
Vote Cast: YAE
TokenLogic was the author of this proposal and this proposal enables the DAO to begin deploying CRV to earn yield.

Request for Bounty Payout - December 2023
Vote Cast: YAE
We support recognising the efforts of the developers that identified ways to improve the Aave Protocol as recommended by BGD. The values are small to the DAO, potentially meaningful to the individuals that will receive the payment. Ultimately, we want to encourage developers to search for and communicate any identified potential issues.

Aave Governance V3 Activation Short
Vote Cast: YAE
We support the upgrade from v2.5 to v3 governance as proposed by BGD.

[TokenLogic]

TokenLogic January Update

A busy start to the year with 12 AIPs and 30 Snapshot votes. The TokenLogic team participated in 11 of 12 AIPs and 25 of 30 Snapshot votes. In addition to being an active delegate and separate from our partnership with karpatkey, we have also made significant progress on the bridging, swapper and asset manager contracts.

Many of these contracts are currently at the review stage with BGD. We take security very seriously and the safety of the DAO’s funds are our number one priority. The review progress is very thorough and we are going to great lengths with BGD to ensure everything works correctly.

Aave Swapper Contract Upgrade

We wanted to update the forum on the status of the development work for the Aave Swapper Upgrade to support both limit orders and TWAP orders.

These contracts, as well as the bridging contracts, move millions of dollars so we want to ensure with thorough testing (both programmatic testing as well as live testing) that our contracts work as expected and the DAOs funds are always safe. We have performed all the necessary live tests as well as added all the programmatic tests for our contracts and they are in the review phase with BGD labs.

To be protected against MEV, these contracts rely on COW Swap under the hood to find a match for the swaps, and they had some trouble picking up orders once created so it took a bit longer than we wanted to finish the live tests end-to-end.

The Aave Swapper is currently in the review phase. This review phase is very thorough and we are having conversations to finalise the work and update the contract implementation so these new types of orders can be used by the DAO.

Bridge Contract Updates

A brief summary of the status of each of the three bridges being prepared as part of the [ARFC] Treasury Management - Tooling Upgrade. Please note, developing the contract requires input from the various teams.

• Optimism to Ethereum
  • Currently in the review phase
• Arbitrum to Ethereum
  • Currently in the review phase
• Avalanche to Ethereum
  • The Avalanche Foundation is evaluating adding smart contract support to the Avalanche Bridge. Once this is complete, we will be able to build out the bridging contract for Aave.

Strategic Asset Manager Contract Upgrade

TokenLogic has been working closely with the Paladin team to integrate the ability to create quests via the SAM contract.

The SAM contract upgrade is currently in the review stage.

Delegate Platform UI

We are glad to share with the Aave Community new delegate platform frontends for both TokenLogic and EzR3al.

TokenLogic Link: https://delegate.tokenlogic.com.au/

EzR3al Link: https://ezr3al.tokenlogic.com.au/

We hope with the upcoming Merit incentive program more aAAVE, stkAAVE and AAVE holders participate in governance by delegating to one of the many delegates in the Aave Ecosystem. If any recognised delegate would like a delegate platform frontend, please reach out and we will support as best we can.

Snapshot Votes

[TEMP CHECK] Launch Aave V3 on Kava EVM
Vote Cast: YAE
In general, we support the continued expansion of Aave v3 deployments.

[TEMP CHECK] Add PYUSD to Aave v3 Ethereum Market
Vote Cast: YAE
We support adding pyUSD to Aave v3. Similar to sDAI we expect users to deposit pyUSD as collateral.

[TEMP CHECK] GHO Stability Module Launch
Vote Cast: Option A
We are supportive of deploying the GSM without swaps enabled. We beleive the GSM should be funded with swaps enable once the GHO price is trading closer to peg.

[TEMP CHECK] Further Aave v1 deprecation strategy
Vote Cast: YAE
We support sunsetting the legacy v1 market.

[ARFC] Retroactive bug bounties proposal (pre-Immunefi)
Vote Cast: YAE
We support the proposed payoouts in line with BGD recommendations.

[ARFC] Harmonize USDT Risk Parameters on Aave V3 Markets
Vote Cast: YAE
We believe all USDT LTV and LT parameters should be harmonised with USDC and DAI.

[TEMP CHECK] Add ggAVAX to AAVE v3 on Avalanche
Vote Cast: ABSTAIN
We beleive it to early to consider adding ggAVAX as the risk profile of this asset remains relatively high.

[TEMP CHECK] Add sFRAX to Ethereum V3
Vote Cast: YAE
We support adding interest bearing collateral assets to Aave and look forward to the Risk Service Providers feedback at ARFC stage.

[ARFC-Addendum] Update StkGHO Launch Parameters
Vote Cast: Option B
We favour aligning the cooldown period with other assets in the Safety Module and increasing the AAVE rewards to 50/day. We believe 100 AAVE per day at the start is to much and creates to much risk of GHO trading above peg.

[TEMP CHECK] Onboard fdUSD to Aave v3 on BSC
Vote Cast: YAE
We support stable coin diversity and look forward to hearing the Risk Service Providers feedback during the ARFC phase.

[ARFC] Treasury Management - GSM Funding & RWA Strategy Preparations
Vote Cast: YAE
We are co-author of this proposal and support securing the DAO’s runway, GSM and investments.

[ARFC] Gauntlet recommendation for MAI / MIMATIC deprecation phase 2
Vote Cast: YAE
Given the current market conditions for MAI, we support reducing Aave Protocol’s expsoure to MAI.

[TEMP CHECK] Aave V3 MVP deployment on Neon EVM Mainnet
Vote Cast: YAE
We support progressing to the next phase to assess whether or not Aave v3 should be deployed on Neon. We are looking forward to BGD feedback.

[ARFC] Update stETH and WETH Risk Params on Aave v3 Ethereum, Optimism and Arbitrum
Vote Cast: YAE
We support improving Aave’s competitive position in the market and this proposal is a strategic initiative that will help sustain Aave’s dominant market position.

[ARFC] Aave V3 Deployment on Scroll mainnet
Vote Cast: YAE
With support from Risk Service Providers and BGD, we support deploying Aave v3 on Scroll.

[ARFC] AMPL Interest Rate Updates on V2 Ethereum
Vote Cast: YAE
We support the interest rate strategy amendments as presented by Chaos Labs.

[ARFC] Introducing “Frontier” - Staking as a Service for the Aave DAO
Vote Cast: YAE
We suport the ACI running Ethereum nodes on behalf of Aave DAO. Marc has extensive experience in running nodes and we are glade to be a signer on the multi-sig.

[ARFC] Add PYUSD to Aave v3 Ethereum Market
Vote Cast: YAE
We support adding collateral types that generate yield. We also look forward to working with the Trident team to help grow pyUSD adoption on Aave Protocol.

[ARFC] Gauntlet USDC.e Supply and Borrow Cap Recommendation on Optimism Aave v3
Vote Cast: NAE
Increasing caps for USDC.e would only result in a longer co existence of USDC.e and native USDC. We do not support encouraging the use of USDC.e on Aave Protocol and expect for this asset to be deprecated in time.

[ARFC] Recommendation to freeze and set LTV to 0 for DPI on Aave v3 Polygon
Vote Cast: YAE
The DPI token has seen no adoption on Polygon and should be phased out where there is no business case to retain the asset.

[ARFC] Recommendation to freeze and set LTV to 0 for BAL on Aave v3 Polygon
Vote Cast: YAE
We support Chaos Lab’s and Gauntlet’s feedback. “We recommend freezing and setting LTV to 0 for BAL on Aave v3 Polygon because it contributes minimally to the protocol’s reserve growth, compared to the risk it adds to the protocol.”

[ARFC] Recommendation to freeze and set LTV to 0 for CRV on Aave v3 Polygon
Vote Cast: YAE
Same reasoning as previous proposal.

[ARFC] Recommendation to freeze and set LTV to 0 for SUSHI on Aave v3 Polygon
Vote Cast: YAE
Same reasoning as previous proposal.

[ARFC] Add sFRAX on Ethereum V3
Vote Cast: YAE
We support adding yield generating collateral assets like sDAI, pyUSD and now sFRAX.

[ARFC] Modify Retroactive bug bounties proposal (pre-Immunefi)
Vote Cast: Option C
Our rational for voting Option C can be found on the forum here.

AIP Votes

Polygon V2 Reserve Factor Updates
Vote Cast: YAE
We support continually increasing the RF values to support the migration of users from Polygon v2 to v3.

Chaos Labs Risk Parameter Updates - WBTC.e on V2 and V3 Avalanche
Vote Cast: YAE
We support reducing WBTC.e exposure and encouraging users to migrate to BTC.b on v3.

Stablecoin IR Curves Updates
Vote Cast: YAE
Borrowing rates across Aave Protocol have been high and often exceed the Slope 1 Interest Rate. We support increasing stable coin Interest Rate parameters across all Aave deployments.

V2 Deprecation Plan, 2024.01.02
Vote Cast: YAE
We support the continued transition from v2 to v3 by reducing the Liquidation Thresholds (LT) on Aave V2 Ethereum.

Aave Funding Updates (part 2)
Vote Cast: YAE
We prepared this proposal with karpatkey and it will ensure all Aave Service Providers are funded for the duration of all the known contracts.

Aave v3 BNB Activation
Vote Cast: YAE
We support the continued expansion and deployments of new iterations of Aave v3 on new networks.

StkGHO Activation
Vote Cast: YAE
We believe creating stkGHO will provide buy pressure on GHO and will help bring the price back to $1.00 ready for the GSM and many new liquidity pool to be launched.

GHO Stability Module
Vote Cast: YAE
We support deploying the GSM in line with Chaos Labs and Gauntlet’s receommendation. In the future, we expect the GSM will need funding and we are already working on ensure the DAO has adequate funds available for this.

Reserve Factor Updates (Jan 15, 2024)
Vote Cast: YAE
We support continually increasing the RF values to support the migration of users from Polygon v2 to v3.

Request for Bounty Payout - January 2024
Vote Cast: YAE
We support rewarding the efforts of developers who find issues with the Aave Protocol as outlined in this proposal.

Update ETH EMode and WETH Risk Params on Aave v3 Ethereum, Optimism and Arbitrum
Vote Cast: YAE
This proposal will improve Aave’s competitiveness and will encourage users to remain on Aave. The ETH reserve will become more capital efficient and will hopefully lead to more users migrating funds from v2 to v3.

[TokenLogic]

TokenLogic February Update

Throughout February, we successfully conducted voting on all 25 Aave Improvement Proposals (AIPs), achieving a 100% participation rate, and also addressed 41 out of 46 Snapshot votes. The recent renewals of Orbit and the introduction of the Aave Protocol Embassy mark significant milestones, alongside the proactive engagement of multiple communities in the process of distributing rewards on Aave, which is commendable. Anticipation is high for the upcoming launch of the Merit program in March.

In parallel, our team remains committed to advancing various initiatives aimed at facilitating seamless fund transfers between networks and enabling asset swapping. Currently, we have four out of six projects that fall outside of our collaboration with karpatkey with BGD for review. Furthermore, we are actively incorporating valuable feedback into one of the six initiatives. Lastly, the Avalanche bridging contract development remains temporarily paused as we await the Avalanche Foundation implementing an upgrade.

TokenLogic Proposals Outside of Partnership with Karpatkey

A quick summary of the current status is shown below:

• Optimism Bridge - with TokenLogic to action feedback
• Arbitrum Bridge - with BGD for Review
• Polygon Plasma Bridge - with BGD for Review
• Avalanche Bridge - On-Hold pending bridge contract upgrade by Avalanche Foundation
• Aave Swap Upgrade - with BGD for Review
• SAM Upgrade - with BGD for Review

Snapshot Votes

[ARFC] Harmonize USDT Risk Parameters on Aave V3 Markets
Vote Cast: YAE
We support setting the USDT parameters (LTV & LT) across Aave v3 deployments to be the same. This is in line with best practice.

[TEMP CHECK] Add ggAVAX to AAVE v3 on Avalanche
Vote Cast: ABSTAIN
We abstain from this vote due to concerns around ggAVAX liquidity distribution.

[TEMP CHECK] Add sFRAX to Ethereum V3
Vote Cast: YAE
We support progressing sFRAX to the next stage of the governance process and look forward to learning Chaos Labs thoughts on the listing parameters.

[ARFC-Addendum] Update StkGHO Launch Parameters
Vote Cast: Option B
We are in favour of keeping the same cool down period across all categories in the Safety Module and would first like to see how the market reacts to 500 AAVE/day. We can always increase the emission rate at a later date.

[TEMP CHECK] Onboard fdUSD to Aave v3 on BSC
Vote Cast: YAE
We support stable coin diversity and would like to support fdUSD to the ARFC stage where we can get a better understanding of the risks involved.

[ARFC] Treasury Management - GSM Funding & RWA Strategy Preparations
Vote Cast: YAE
TokenLogic was the co-author of this proposal and we advocate for holding the correct amount of each asset in preparation for future expenses and investments.

[ARFC] Gauntlet recommendation for MAI / MIMATIC deprecation phase 2
Vote Cast: YAE
We support the deprecation of MAI.

[TEMP CHECK] Aave V3 MVP deployment on Neon EVM Mainnet
Vote Cast: YAE
We support the continued deployment of Aave v3 across new networks to provide users with access to a battle tested lending protocol.

[ARFC] Update stETH and WETH Risk Params on Aave v3 Ethereum, Optimism and Arbitrum
Vote Cast: YAE
We support the revised ETH-Correlated E-Mode parameters across the three mentioned v3 deployments.

[ARFC] Aave V3 Deployment on Scroll mainnet
Vote Cast: YAE
We are supportive of deploying Aave v3 on the Scroll network given the support from BGD and Chaos Labs.

[ARFC] AMPL Interest Rate Updates on V2 Ethereum
Vote Cast: YAE
We support the proposed changes in light of the recent events.

[ARFC] Introducing “Frontier” - Staking as a Service for the Aave DAO
Vote Cast: YAE
We are supportive of the Aave DAO helping support the network by enabling the ACI team to run nodes.

[ARFC] Add PYUSD to Aave v3 Ethereum Market
Vote Cast: YAE
We support stable coin diversity and expect Trident to coordinate deposits into Aave v3.

[ARFC] Gauntlet USDC.e Supply and Borrow Cap Recommendation on Optimism Aave v3
Vote Cast: NAY
Gauntlet is out of touch with Aave community. This asset (USDC.e) is to deprecated and not enabled to grow supply or debt levels on Aave deployments.

[ARFC] Recommendation to freeze and set LTV to 0 for DPI on Aave v3 Polygon
Vote Cast: YAE
DPI is a great product but is not widely used on Aave v3 Polygon. We support sunsetting the asset.

[ARFC] Recommendation to freeze and set LTV to 0 for BAL on Aave v3 Polygon
Vote Cast: YAE
We support Chaos Labs and Gauntlet feedback on BAL.

[ARFC] Recommendation to freeze and set LTV to 0 for CRV on Aave v3 Polygon
Vote Cast: YAE
We support Chaos Labs and Gauntlet feedback on CRV.

[ARFC] Recommendation to freeze and set LTV to 0 for SUSHI on Aave v3 Polygon
Vote Cast: YAE
We support Chaos Labs and Gauntlet feedback on SUSHI.

[ARFC] Add sFRAX on Ethereum V3
Vote Cast: YAE
We support adding sFRAX and hope to see it grow as a deposit asset backing stable coin debt.

[ARFC] Modify Retroactive bug bounties proposal (pre-Immunefi)
Vote Cast: YAE
Option C - we support the guidance provided by BGD and think Aave DAO should distribute these funds as originally proposed.

[TEMP CHECK] Onboard RSR to Aave v3
Vote Cast: Did not vote. Our vote would have been to abstain.

[ARFC] Onboard fdUSD to Aave v3 on BSC
Vote Cast: Did not vote.

[TEMP CHECK] Add gmBTC on Arbitrum V3
Vote Cast: Did not vote.

[ARFC] Deprecate Aave V2 AMM Market Phase 2
Vote Cast: Did not vote.

[TEMP CHECK] Add gmETH on Arbitrum V
Vote Cast: Did not vote.

[ARFC] BGD. Correlated-asset price oracle (CAPO)
Vote Cast: YAE
We support the BGD led technical upgrade.

[ARFC] MaticX Supply Cap Increase in Polygon V3
Vote Cast: YAE
We support the continued safe growth of LSTs on Aave Protocol.

[ARFC] Establishing the Aave Protocol Embassy (APE)
Vote Cast: YAE
We support the Aave DAO becoming active in governance of other DAOs.

[ARFC] Set Liquidity Observation Labs as Emission manager for wstETH on V3 markets
Vote Cast: YAE
We support Lido’s Liquidity Observation Labs distributing rewards on Aave Protocol.

[ARFC] Add Contango Protocol, Cian Protocol and Index Coop to flashBorrowers on Aave V3
Vote Cast: YAE
We support whitelisting the three teams who are all actively building on Aave Protocol v3 to spare there users Flashloan fees.

[ARFC] GHO Stewards
Vote Cast: YAE
We support the creation of GHO Stewards. We are also a member of the proposed GHO Stewards.

[TEMP CHECK] Enable Metis as Collateral on Metis Chain
Vote Cast: YAE
We support adding the Metis networks native token as collateral on Aave v3 on Metis.

[ARFC] Chaos Labs Risk Parameter Updates - Increase Debt Ceiling for SNX and MKR on V3 Ethereum - 01.31.2024
Vote Cast: YAE
We are supportive of the adjusting the risk parameters as outlined by Chaos Labs.

[TEMP CHECK] Onboarding weETH to Aave V3 Ethereum
Vote Cast: YAE
We support adding LRTs are collateral on Aave v3. This segment of the market is growing rapidly. We look forward to the risk assessment on these new type of emerging assets.

[ARFC] Set Aave Chan Initiative as Emission Manager for fdUSD on BNB Chain Aave V3
Vote Cast: YAE
We support the ACI distribution rewards on behalf of other teams on Aave v3.

[ARFC] Orbit Program Renewal
Vote Cast: YAE
We support providing ongoing funding to recognised delegates who agree to the code of conduct and add value throughout the governance process.

[TEMP CHECK] Integrate Oval for the BAL & SNX Ethereum V3 Markets
Vote Cast: NAY
We do not support the introduction of Oval due to the concentration risks that have been discussed on the forum.

[ARFC] Set ARB Emission Admin to Gauntlet
Vote Cast: YAE
We support Gauntlet being able to distribute ARB rewards on Aave v3 Arbitrum.

[ARFC] Set osETH & SWISE Emission Admin to StakeWise
Vote Cast: YAE
We support StakeWise being able to distribute SWISE and osETH rewards on Aave v3 Ethereum.

[ARFC] Set OP Emission Admin
Vote Cast: YAE
We support Aave Service Providers distribution OP emissions across Aave v3 on Optimism to help deprecate USDC.e.

[ARFC] Set ETHx and SD Emission Admin to Stader Labs
Vote Cast: YAE
We support Stader Labs distributing SD and ETHx rewards on Aave v3 Ethereum to amplify the adoption of ETHx.

[ARFC] Amend Safety Module Emissions
Vote Cast: YAE
We support increasing the AAVE emissions to stkGHO holders to help attract more GHO deposits into the SM. And also reducing the AAVE Emissions to other categories to keep the overall amount of AAVE being the same.

[ARFC] Merit - A New Aave-Alignment User Reward System
Vote Cast: YAE
We support he introduction of a point based reward system expected to help bolster the growth in deposits and debt on the Ethereum v3 deployment.

[ARFC] Enable Metis as Collateral on Metis Chain
Vote Cast: YAE
We support enabling the Metis Network native token METIS as collateral.

ARFC. Stable rate deprecation
Vote Cast: YAE
We support the deprecation of Stable Borrow Rates across all v2 and v3 Aave deployments.

[ARFC] Chaos Labs - Update WETH IR on V3 Arbitrum and Optimism - 02.16.2024
Vote Cast: YAE
We support the revised interested rates as recommended by Chaos Labs. Increasing the Uoptimal leads to greater capital efficiency in the wETH Reserves.

[ARFC] Funding Update
Vote Cast: YAE
We support making the funds available for the Merit program as outined in this proposal.

AIP Votes

Register a.DI Ethereum → Scroll adapter
Vote Cast: YAE
We support this technical upgrade by BGD.

Harmonize USDT Risk Parameters on Aave V3 Markets
Vote Cast: YAE
We support harmonising the risk parameters for USDT across the various instances of Aave v3.

Treasury Management - GSM Funding & RWA Strategy Preparations (Part 1), Frontier Staking as a Service
Vote Cast: YAE
As the author of this proposal, we support its implementation.

Aave V1 Deprecation
Vote Cast: YAE
We support the deprecation of the legacy Aave v1 deployment.

AMPL Interest Rate Updates on V2 Ethereum
Vote Cast: YAE
In light of recent events, we support the reduction of AMPL interest rate.

Onboard fdUSD to Aave v3 on BNB chain
Vote Cast: YAE
We support onboarding fdUSD onto Aave v3 on the Binance Network as it promotes stable coin diversity.

Freeze and set LTV to 0 for DPI, BAL, CRV, and SUSHI on Aave v3 Polygon, 2024.01.19
Vote Cast: YAE
We support the consolidated proposal to set the LTV to 0 for DPI, BAL, CRV and SUSHI on Aave v3 Polygon.

Gauntlet recommendation for MAI / MIMATIC deprecation phase 2
Vote Cast: YAE
We support the deprecation of MAI on Aave v3 Optimism in line with Gauntlet’s recommendation.

stkABPT Balancer V2 migration
Vote Cast: YAE
We support migrating the current AAVE/wETH to AAVE/wstETH on Balancer v1 to v2 respectively.

Migration of remaining Gov v2 permissions & DAO’s Paraswap positive slippage
Vote Cast: YAE
We support this technical upgrade prepared by BGD.

V2 Ethereum LT Reductions
Vote Cast: YAE
We support reducing the Liquidation Thresholds as proposed by Chaos Labs as it leads to only a small value and number of users funds being liquidated.

Reserve Factor Updates (Jan 31, 2024)
Vote Cast: YAE
We support the phased increase of the RF on Polygon v2 to further encourage users to migrate to v3.

Add PYUSD to Aave v3 Ethereum Pool
Vote Cast: YAE
We support adding stable coin pyUSD to Aave v3. We are supportive of stable coin diversity and expect the Trident team to coordinate deposits into the pyUSD reserve.

Deprecate Aave V2 AMM Market - Step 2
Vote Cast: YAE
We support the DAOs continued efforts to sunset the Aave AMM deployment.

Retroactive Bug Bounty Pre-Immunefi
Vote Cast: YAE
We support rewarding the bug bounty recipients in line with BGD initial suggestions and would like to thank the Immunefi team for running a successful bounty program.

Chaos Labs Risk Parameter Updates - Increase Debt Ceiling for SNX and MKR on V3 Ethereum - 01.31.2024
Vote Cast: YAE
In line with Chaos Labs recommendation we are supporting of increasing the Debt Ceiling for SNX and MKR.

Set Aave Chan Initiative as Emission Manager for fdUSD on BNB Chain Aave V3
Vote Cast: YAE
We support enabling the ACI Team to distribute fdUSD rewards on Aave v3 on the Binance network on behalf of BNB Chain.

Reserve Factor Updates (February 15, 2024)
Vote Cast: YAE
We support the phased increase of the RF on Polygon v2 to further encourage users to migrate to v3.

MaticX Supply Cap Increase in Polygon V3
Vote Cast: YAE
We support enabling users to deposit more MaticX in Aave v3 on Polygon.

Orbit Program
Vote Cast: YAE
We support the continuation of the Orbit program and congratulate @ezR3al on his welcomed inclusion in the program.

Aave Protocol Embassy
Vote Cast: YAE
We support the Aave DAO creating a presences and participating in the governance of the Arbitrum ecosystem.

Treasury Management - GSM Funding & RWA Strategy Preparations (Part 2)
Vote Cast: YAE
We support this proposal as it ensures the DAO has the necessary funds available for when and as needed in line with DAO future expenses at the time of writing.

Stable Rate Bug Bounty
Vote Cast: YAE
We support rewarding this bounty recipient the full 1,000,000 as recommended by BGD Labs and the would like to thank everyone involved for helping keep Aave User’s funds safe.

Aave V1 Deprecation Phase 2
Vote Cast: YAE
We support the full deprecation of the Aave v1 deployment.

Set Liquidity Observation Labs as Emission manager for wstETH on V3 markets
Vote Cast: YAE
We support enabling the Liquidity Observations Labs to distribute wstETH across Aave v3 deployments. We expect this initial to lead to increase demand for wETH and therefore revenue to the Aave DAO.

[TokenLogic]

TokenLogic March Update

During March 2024, we participated in all 21 Aave Improvement Proposals (AIPs), achieving a 100% participation rate. We also participated in 25 of 27 Snapshot votes.

Proposals Outside of the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Optimism Bridge	BGD for Review
Arbitrum Bridge	BGD for Review
Polygon Plasma Bridge	BGD for Review
Avalanche Bridge	On-Hold
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

In the coming month, we are expecting several bridging contracts to progressed through the review process. The review process is taking longer than expect due to an abundance of operational workload taking priority.

Snapshot Votes

[TEMP CHECK] Add rsETH to Aave V3 Ethereum
Vote Cast: ABSTAIN
After discussing with ACI & Kelp DAO, we are supportive of revisiting this listing upon completing a preliminary price feed review.

[TEMP CHECK] GHO Cross-Chain Strategy Launch with CCIP
Vote Cast: YAE
We are supportive of GHO going cross-chain and would like the comments in the forum addressed when practical to do so.

[ARFC] Onboard weETH to Aave v3 on Ethereum
Vote Cast: YAE
We are supportive of adding LRTs to Aave Protocol. We stress the Oracle and pricing used by the protocol must first be approved by BGD.

[ARFC] Add gmBTC on Arbitrum V3
Vote Cast: YAE
We are supportive of onboarding gmBTC on Arbitrum v3 with the risk parameters as provided by Chaos Labs.

[ARFC] Ethereum v2 Reserve Factor Adjustment
Vote Cast: YAE
We are supportive of slowly increasing the RF on Ethereum v2 as a way of encouraging users to migrate to v3.

[ARFC] Stablecoin Harmonization and Asset Parameters Optimization
Vote Cast: YAE
We support optimising the risk across Aave Protocol by reducing the LTV to 0 for stablecoins with small deposits and debt on Aave.

[ARFC] Aave Liquidity Committee Funding
Vote Cast: YAE
We support extending the ALC funding for another 3 months to support the growth and adoption of GHO across DeFi. Note @TokenLogic is a contributor to the ALC and is leading most of the integration efforts.

[ARFC] Set Liquidity Observation Labs as Emission manager for wstETH on Scroll
Vote Cast: YAE
We support assigning the Emission Admin role to Lido’s Liquidity Observation Labs for wstETH on Scroll.

[ARFC-Addendum] Introduce “Hold StkGHO” Reward Action
Vote Cast: YAE
We support the revised Merit criteria to incorporate boost for stkGHO holders. This proposal reflects greater alignment between stkGHO holders and GHO debt holders.

[ARFC] Add gmETH on Arbitrum V3
Vote Cast: YAE
We are supportive of onboarding gmETH on Arbitrum v3 with the risk parameters as provided by Chaos Labs.

[TEMP CHECK] Onboard wbETH on Aave V3 BNB Chain
Vote Cast: YAE
We support LST diversification and wbETH is one of the largest on Binance Network and therefore represents strong potential for driving ETH debt demand on Aave.

[TEMP CHECK] Onboard BNBx on Aave V3 BNB Chain
Vote Cast: YAE
We support LST diversification on Binance Network and BNBx has the potential to drive meaningful demand for BNB debt on Aave.

[ARFC] Set Aave Chan Initiative as Emission Manager for PYUSD on Aave V3 Ethereum Market
Vote Cast: YAE
We are supportive of the ACI being able to distributed pyUSD on Aave v3 on behalf of Trident Digital / Paxos on Ethereum.

[ARFC] Set Aave Chan Initiative as Emission Manager for sUSD on Aave V3 Optimism
Vote Cast: YAE
We are supportive of the ACI becoming the Emission Manager for sUSD on Optimism.

[ARFC] Emission Manager Framework Update
Vote Cast: YAE
We support assign Emission Admins rights from the 3-step governance process to the Direct-to-AIP 2-step process. It is very unlikely someone will vote down this type of proposal which enables someone to gift money to Aave users.

[ARFC] - Remove ARB from Isolation mode on Arbitrum Market
Vote Cast: YAE
We support removing ARB from isolation mode. It is the native token on Arbitrum and now that several large unlocks have passed, the risk profile has reduced.

[TEMP CHECK] Onboard sUSDe to Aave V3 on Ethereum
Vote Cast: YAE
We are cautiously supportive of adding sUSDe and look forward to Chaos Labs risk assessment at the ARFC stage of the governance process.

[ARFC] TUSD and BUSD Aave V2 Rate Amendments
Vote Cast: YAE
We support amending the Borrow Rates of TUSD and BUSD.

[ARFC] Stablecoin IR Curve Amendment on Aave V2 and V3
Vote Cast: Aggressive
We support increase the Slope1 parameters to reflect current markets conditions which at the time of voting exceed the proposed Slope1 parameters. However, we note market conditions are volatile and we expect the Slope1 parameter to be amended to reflect the relativeness of this change to market conditions at the time of AIP implementation.

[TEMP CHECK] Onboard Catapulta as Aave V3 Deployment Service Provider
Vote Cast: YAE
We support onboarding Catapulta to continue there service to the DAO as formally recognised service providers to the Aave DAO.

[ARFC] Chaos Labs - Borrow Cap Reductions on Aave Ethereum - 03.11.24
Vote Cast: YAE
We support reducing Aave Protocol’s exposure to long tail asset by limiting the Borrow Cap for each of the proposed assets.

Generalized LT/LTV Reduction on Aave
Vote Cast: YAE
In response to increased volatility in the market, specifically UNI, we support reducing LT and LTV parameter settings as recommended by Chaos Labs.

[ARFC] Onboard osETH to Aave V3 on Ethereum
Vote Cast: YAE
We support collateral, LST, diversity and welcome innovative products like StakeWise’s osETH product to Aave.

[ARFC] GHO Stewards + Borrow Rate Update
Vote Cast: YAE
We support the introduction of the admin role, GHO Stewards, to facilitate and streamline the management of GHO on Aave Protocol.

[ARFC] Reset Aave v3 Deployment Pipeline
Vote Cast: YAE
The Aave v3 deployment pipeline is crowded and the lift involved with supporting each new deployment is considerable. We support revisiting the sequence and priority of new Aave v3 deployments.

[TEMP CHECK] Onboard LlamaRisk as Aave Risk Service Provider
Vote Cast: YAE
We are supportive of progressing LlamaRisk to the next round. The scope, primarily qualitative will compliment Chaos Labs more quantitative scope nicely.

[ARFC] Avalanche v2 Reserve Factor Adjustment
Vote Cast: YAE
We are in favour of sunsetting Avalanche v2 like we are currently doing so on Polygon v2.

AIP Votes

GHO Borrow Rate Increase 2024-02-29
Vote Cast: YAE
We support increasing the GHO borrow rate from 6.22% APR to 7.22% APR.

Reserve Factor Updates (February 29, 2024)
Vote Cast: YAE
We support the continued increase of the RF on Polygon v2 to encourage users to migrate to v3.

Assign Emission Admin - Ethereum, Arbitrum and Optimism
Vote Cast: YAE
We support assigning the Emission Manager role to various teams who intend to distribute rewards across the Aave Protocol.

Merit Approvals
Vote Cast: YAE
We support the introduction of the Merit program and experimenting with the distribution of ETH and GHO to users who interact with the Aave Protocol as intended by the Merit program.

Funding Update
Vote Cast: YAE
We support consolidating the DAO assets into GHO to support upcoming expenses.

Amend Safety Module Emissions
Vote Cast: YAE
We support the rebalancing of AAVE emissions to allow for increase AAVE emissions on the GHO category.

GHO Borrow Rate Increase
Vote Cast: YAE
We support increasing the GHO Borrow Rate by 0.7% to reduce the gap between the current GHO Borrow Rate and other dominant stablecoins in line with previously grant Direct-to-AIP permissions.

Activation of A-C Prime Foundation
Vote Cast: NAY
At the time this proposal was presented, yield in DeFi exceed those of T-Bills by an order of magnitude. Therefore, we do not support progressing towards enabling the DAO to invest T-Bills and instead prefer the DAO to focus on more DeFi native higher yield alternatives, like passively holding aTokens on Aave v3.

addFlashborrowers
Vote Cast: YAE
We support adding several well known builders, Contango Protocol, CIAN Protocol and Index Coop as whitelisted actors of the Flashborrowers of Aave V3 on Ethereum, Arbitrum, and Optimism liquidity pools.

Ethereum v2 Reserve Factor Adjustment
Vote Cast: YAE
We support initiating the continued increase of the RF on Eth v2 by 5% every 2 weeks to encourage users to migrate from v2 to v3.

GHO Borrow Rate Increase - Re-Run
Vote Cast: YAE
We support increasing the GHO Borrow Rate by 0.7% to reduce the gap between the current GHO Borrow Rate and other dominant stablecoins in line with previously grant Direct-to-AIP permissions.

Set Price Cap Adapters (CAPO)
Vote Cast: YAE
We support the activation of the correlated-assets price oracle (CAPO) system for LSTs and fiat-pegged stable coins.

Aave Liquidity Committee Funding
Vote Cast: YAE
We support funding the ALC for another 3 month period to the value of 500,000 GHO.

v3 Periphery maintenance
Vote Cast: YAE
We support this technical upgrade on Scroll as recommended by BGDLabs.

Reserve Factor Updates (March 13, 2024)
Vote Cast: YAE
We support the continued increase of the RF on Polygon v2 to encourage users to migrate to v3.

stablecoin harmonization
Vote Cast: YAE
We support focusing stablecoin collateral usage on USDT and USDC while setting LTV to zero for less-trafficked stablecoins and long-tail assets. The reward from non major stablecoins, especially with the introduction of GHO, is not sufficient to justify the risk.

Update a.DI implementation and CCIP adapters
Vote Cast: YAE
We support this technical upgrade from BGDlabs.

Ethereum v2 Reserve Factor Adjustment
Vote Cast: YAE
We support continuing to increase the RF on Eth v2 by 5% every 2 weeks to encourage users to migrate from v2 to v3.

Remove ARB from Isolation Mode on Arbitrum
Vote Cast: YAE
We support disabling Isolation Mode for ARB on Aave v3 Arbitrum.

Aave BGD Phase 3
Vote Cast: YAE
We support the Aave DAO renewing the BGDlabs funding spanning the two proposed scopes.

Contango FlashBorrower
Vote Cast: YAE
We support extending free Flashloans capabilities to Contango protocol across every network Aave has presence except the Metis Network.

[TokenLogic]

TokenLogic April Update

During April 2024, we participated in all 29 Aave Improvement Proposals (AIPs), achieving a 100% participation rate. We also participated in 23 of 24 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	BGD for Review
Arbitrum Bridge	BGD for Review
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

During April the Polygon Plasma bridging contract was used to transfer wMATIC to Ethereum. The MATIC is later to be used by @aci as part of the Frontier program.

In response to the latest round of comments from @bgdlabs, test transactions for every asset on the Optimism and Arbitrum bridges has been provided. We expect both bridging contracts to be used by @karpatkey_TokenLogic in the near future.

Snapshot Votes

[ARFC] aAMPL interim distribution
Vote Cast: YAE
We support an interim distribution of 300’000 stable-coins from the Aave Collector to allow partial withdrawals by aAMPL suppliers to Aave v2 Ethereum.

[ARFC] Onboard Catapulta as Aave V3 Deployment Service Provider
Vote Cast: YAE
We support the onboarding of Catapulta as a Service Provider to the Aave DAO to support with future deployments of Aave v3.

[TEMP CHECK] Onboard ezETH to Aave V3 Ethereum
Vote Cast: YAE
We support onboarding LRTs and LSTs to create demand for borrowing wETH. However, we do think careful consideration needs to be given to the Oracle being used and look forward to the technical review to be provided by BGD Labs at the next stage of the governance process.

[TEMP CHECK] Onboard OpenBlock as Aave Risk Service Provider
Vote Cast: NAY
We do not support the onboarding of OpenBlock as a Service Provider to Aave DAO. We believe of the three candidates OpenBlock offers the leat attraction proposal to the DAO. As a result, we have voted NAY. We thank the OpenBlock team for taking the time to submit the proposal.

[TEMP CHECK] Allez Labs risk provider proposal to Aave DAO
Vote Cast: ABSTAIN
We voted ABSTAIN on this vote due to mixed feedback relating to some of the team members at Allez Labs. We therefore proceeded with caution and opted to ABSTAIN from this vote.

[ARFC] Onboard wbETH to Aave v3 BNB Chain
Vote Cast: YAE
We are supportive of onboarding wbETH onto Aave v3 on Binance using the Risk Parameters suggested by Chaos Labs.

[ARFC] Onboard sUSDe to Aave V3 on Ethereum
Vote Cast: YAE
We are supportive of onboarding sUSDE onto Aave v3 as collateral only as recommended by Chaos Labs. We do think careful monitoring is required due to some of the off-chain dependencies embedded in the Ethena yield generation model.

[ARFC] Risk Parameters for DAI Update
Vote Cast: Conservative
In light of recent market events and community discussion, we support the Conservative approach as outlined.

[ARFC-Addendum] Update Boosters & diluters for Merit Round 2
Vote Cast: YAE
We support the proposed changes to the Merit Program as outline by the ACI Team who is leading this initiative.

[ARFC] Polygon v2 Borrow Rate Adjustments
Vote Cast: YAE
As author of this proposal, we support the continued migration of users from v2 to v3 Polygon by increasing the Borrow Rate such that it becomes more expensive for users to remain on v2.

[ARFC] Chaos Labs Risk Parameter Updates - OP on V3 Optimism
Vote Cast: YAE
We support Chaos Labs proposal to increase OP’s LT and LTV threshold on Aave v3 Optimism.

[ARFC] - Chaos Labs Engagement Amendment
Vote Cast: YAE
We support the expanded scope and funding request proposed by Chaos Labs.

[ARFC] Chaos Labs Risk Parameter Updates - GNO on V3 Gnosis
Vote Cast: YAE
We support Chaos Labs proposal to increase GNO’s LT and LTV threshold on Aave v3 Gnosis.

[ARFC] Onboard New Risk Service Provider
Vote Cast: Llama Risk
We support onboarding Llama Risk as a qualitative Risk Team that is expected to compliment Chaos Labs more quantitative approach. We note Allez Labs is also a strong team and on this occasion we favour having two Service Providers with less overlap and also the lower of the two from a cost perspective.

[ARFC] “Merit is Forever” Reward System Program Extension
Vote Cast: YAE
We support the continuation of the Merit program and look forward to seeing more builders and whale migrate to Aave Protocol with the confidence of knowing that Merit will be extended for another 9 months.

[TEMP CHECK] GHO Cross-Chain Rollout Plan - First Network
Vote Cast: Arbitrum
We voted in support of Arbitrum purely due to the funding already being received by the DAO from the Arbitrum Foundation. If there was an option to launch on both Avalanche and Arbitrum at the same time, we would advocate for a second ARFC vote with this option.

[TEMP CHECK] Introducing “FastPass” - A Safety Module Update
Vote Cast: YAE
We support the introduction of FastPass and look forward to the success of the various integrations it will unlock for stkGHO. We think implementing this as outlined in the proposal will be a significant value driver within the GHO ecosystem.

[ARFC] Update Aave Liquidity Committee SAFE
Vote Cast: YAE
As the author of this proposal, we support reducing the number of signers on the SAFE and would like to formally recognise and thank @solarcurve for his contributions to the Aave Liquidity Committee.

[TEMP CHECK] Onboard ggAVAX to Aave V3 on Avalanche
Vote Cast: YAE
We support ggAVAX progressed to ARFC stage whereby we can learn from Chaos Labs the associated risks with listing ggAVAX. As a sentiment check, we support onboarding collateral types that can drive material demand for assets on Aave v3.

[ARFC] aAMPL Second Distribution
Vote Cast: YAE
We support the follow-up distribution of 758,000 stable-coins from the Aave Collector to allow full withdrawals by aAMPL suppliers to Aave v2 Ethereum.

[ARFC] Updating weETH Risk Parameters
Vote Cast: YAE
We support this proposal to update the risk parameters and interest rate strategy of the weETH asset on the Ethereum pool to boost Aave DAO revenue and encourage collateral adoption.

[ARFC] Aave v3.1 activation
Vote Cast: YAE
We support the activation of Aave v3.1 as an upgrade on top of all active Aave v3 instances.

[ARFC]. BGD. Aave v3.1 Cantina competition
Vote Cast: YAE
We support the Aave DAO participating in the Cantina security competition for the upcoming Aave v3.1 upgrade.

AIP Votes

Activate Gho Stewards
Vote Cast: YAE
As a GHO Steward, @TokenLogic is in favour of this proposal which will enable more responsive adjustments to the GSMs and GHO parameters within the Aave Protocol.

GHO Stewards + Borrow Rate Update
Vote Cast: YAE
As author of this proposal, we are are supportive of increasing the GHO Borrow Rate in line with Maker’s DAO more recent DSR adjustment.

Funding Update (Part B)
Vote Cast: YAE
As author of this proposal, we are supportive ti extending the DAOs GHO funding via consolidating smaller asset holdings and moving funds to mainnet to align where Aave DAO holds its funds and realises most of its costs.

EURe Emissions Manager
Vote Cast: YAE
We are supportive of the ACI having the Emission Admin Role for the EURe token on the Aave v3 Gnosis deployment.

Borrow Cap Reductions on Aave V3 Ethereum
Vote Cast: YAE
We are supportive of lowering the Borrow Caps for the long tail assets as outlined by Chaos Labs in this proposal.

TUSD and BUSD Aave V2 Rate Amendments
Vote Cast: YAE
We are supportive phasing out the TUSD and BUSD reserves across Aave Protocol.

Update WETH IR on V3 Arbitrum and Optimism
Vote Cast: YAE
We are supportive of reducing the Slope1 parameter for wETH on Optimism and Arbitrum.

Reserve Factor Updates
Vote Cast: YAE
As the author of this proposal, we support the continual increasing of the Reserve Factor on Polygon v2 up to 99.99% over time with the goal of incentivising users to migrate to v3.

Stablecoin IR Updates
Vote Cast: YAE
In line with broader market conditions, we support increasing the stable coin Interest Rate parameters across all Aave deployments as proposed by Chaos Labs.

Native Bridge Adapters Update
Vote Cast: YAE
We support this technical upgrade proposed by @bgdlabs.

Generalized LT/LTV Reduction on Aave
Vote Cast: YAE
In line with broader market conditions, we support reducing stable coin LTs and LTVs across all markets as proposed by Chaos Labs.

Upgrade AMPL implementation
Vote Cast: YAE
We support disabling withdrawals and transfers for aAMPL such that BGD Labs can take a distribution snapshot.

Reserve Factor Updates
Vote Cast: YAE
As the author of this proposal, we support the continual increasing of the Reserve Factor on Avalanche and Ethereum v2 up to 99.99% over time with the goal of incentivising users to migrate to v3.

weETH Onbaording
Vote Cast: YAE
We support the onboarding of weETH onto Aave v3 Ethereum and we expect there to be strong TVL upside as a result.

Interim aAMPL distribution
Vote Cast: YAE
We support the distribution of 300,000 USDC to users affected by aAMPL problem.

weETH Arbitrum onboarding
Vote Cast: YAE
We support the onboarding of weETH onto Aave v3 Arbitrum and we expect there to be strong TVL upside as a result.

Mainnet PYUSD Emissions Admin
Vote Cast: YAE
We support enabling the ACI team to distribute pyUSD rewards across Aave v3 Ethereum. However, we do not expect this will happen, but it is good to be prepared.

Optimism susd Emission Admin
Vote Cast: YAE
We support enabling the ACI team to distribute sUSD rewards across Aave v3 Optimism.

Scroll wstETH Emission Manager
Vote Cast: YAE
We support enabling Lido’s Liquidity Oberservation Labs team to distribute wstETH rewards across Aave v3 Scroll.

Temporary Freeze of Long-Tail V2 Assets
Vote Cast: YAE
We support Chaos Lab’s proposal to freeze USDP, GUSD, LUSD, FRAX, sUSD and AAVE on Aave V2.

Ethereum V2 LT Reductions
Vote Cast: YAE
We support Chaos Lab’s proposal to reduce Liquidation Thresholds on Aave V2 Ethereum.

Set Price Cap Adapters for Aave V2
Vote Cast: YAE
We support @BGDLabs proposal to introduce the correlated-assets price oracle (CAPO) for fiat-pegged stable coins.

LayerZero bridge adapter update to V2
Vote Cast: YAE
We support this technical upgrade that updates the LayerZero bridge adapters used on a.DI to connect Ethereum with Polygon, Avalanche, Binance and Gnosis to the new LayerZero V2 version. Something that is lacking is insights into the resulting on going cost to be incurred by the DAO for using a.DI.

Risk Parameter Updates - OP on V3 Optimism
Vote Cast: YAE
We support this proposal by Chaos Labs to increase OP’s liquidation threshold and LTV on Aave V3 Optimism.

Chaos Labs Engagement Amendment
Vote Cast: YAE
We support expanding Chaos Labs scope of work and the proposed additional $400,000 payment. However, we do not support further increases beyond $2M which we believe to be a fair payment for the volume of work and broad scope of work that Chaos Labs has within the Aave Ecosystem.

V2 Stable Debt Offboarding
Vote Cast: YAE
We support this technical upgrade proposed by BGDLabs that allows permissionless swapping from stable to variable debt.

Risk Parameters for DAI Update
Vote Cast: YAE
We support the proposed update to the DAI risk parameters across all Aave deployments.

Risk Parameter Updates GNO on V3 Gnosis
Vote Cast: YAE
We support the proposed update GNO’s liquidation threshold, LTV, and debt ceiling on V3 Gnosis by Chaos Labs.

Reserve Factor Updates
Vote Cast: YAE
As the author of this proposal, we support the continual increasing of the Reserve Factor on Avalanche and Ethereum v2 up to 99.99% over time with the goal of incentivising users to migrate to v3.

[TokenLogic]

TokenLogic May Update

During May 2024, we participated in all 22 Aave Improvement Proposals (AIPs), achieving a 100% participation rate. We also participated in 24 of 24 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	Final Touches
Arbitrum Bridge	Final Review
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

Some further updates to the Optimism bridge contract is required. Whereas, the Arbitrum bridge is just waiting a final test transaction being performed.

The May Finance Update is to make use of the Arbitrum and Optimism bridges when transferring USDC.e to Ethereum.

Snapshot Votes

[TEMP CHECK] Onboard tBTC to Aave v3 on Ethereum, Arbitrum and Optimism
Vote Cast: YAE
We voted in favour of on-boarding tBTC by Threshold Network to promote diversification of wBTC back assets like wBTC.

[ARFC] ACI Phase III - “Ad Astra”
Vote Cast: YAE
We voted in favour of renewing the ACI for Phase III. The ACI team has driven meaningful TVL and revenue growth for the DAO. The Merit program has been a huge success story leading to the recovery in the GHO peg.

[ARFC] Deprecation of Small-cap Stablecoins on V2 Ethereum
Vote Cast: YAE
We voted in favour of deprecating v2 markets and also deprecating the following stable coins USDP, GUSD, LUSD, FRAX and sUSD which provide less than ideal revenue potential for the given risk profiles.

[ARFC] Onboard ggAVAX to Aave V3 on Avalanche
Vote Cast: NAY
We voted in line with Chaos Labs recommendation to not on-board ggAVAX at this point in time due to desire for more time in market and improved adoption metrics.

[ARFC] Renewal of Aave Guardian - 2024
Vote Cast: YAE
We voted in favour updating the Guardian signers to comprise of representatives from service providers and proven delegate platforms.

[ARFC] LT/LTV Reductions on Aave V2 Stablecoins
Vote Cast: CONSERVATIVE
We voted for the more conservative option presented by Chaos Labs when reducing the USDC LTV and LT parameters on Aave v2.

[ARFC] Safety Module stkGHO - Rewards Adjustment
Vote Cast: YAE
As author of this proposal, we are in favour of replacing the AAVE with GHO emissions for the stkGHO category. This will continue the DAOs journey towards using GHO as the primary means for sustaining DAO expenses.

[TEMP CHECK] Add rsETH to Aave V3 Ethereum
Vote Cast: YAE
We are in favour of on-boarding LRTs as collateral on Aave v3 assuming both BGDLabs from a technical perspective and Chaos Labs from a risk perspective are supportive.

[TEMP CHECK] Add AERO to Base V3 *Reproposal
Vote Cast: NAY
We voted NAY on this proposal due to an expectation that this type of asset will not foster a lot of demand the risk to revenue value proposition does not favour the DAO.

[ARFC] Fund USDC & USDT GSM
Vote Cast: YAE
As the author of this proposal we are in favour of adding USDC and USDT to the respective GSM which will serve to help preserve the GHO peg.

[ARFC-Addendum] Update Merit for Round 4
Vote Cast: YAE
We voted in favour of revising the Merit program as we optimise for maximising the upside for the Aave DAO.

[ARFC] Aave V3 Deployment on Celo
Vote Cast: YAE
We voted in favour of deploying Aave v3 on Celo to increase brand awareness and Aave’s user base. From an economic perspective, we do not expect to make a lot of revenue from this deployment.

[ARFC] GHO Cross-Chain Launch
Vote Cast: YAE
We voted in favour of deploying GHO on other instances of Aave v3.

[ARFC] Aave Finance Steward
Vote Cast: YAE
As the architect and creator of this proposal, we voted in favour of introducing the Finance Steward role with the goal of streamlining how the DAO manages its finances.

[ARFC] Onboard USDe to Aave V3 on Ethereum
Vote Cast: YAE
We voted in favour of on-boarding USDe which we expect will drive meaningful TVL growth for deposits and debt on the main Ethereum v3 deployment.

[TEMP CHECK] Safety Module - Create GHO/USDC E-CLP Category
Vote Cast: YAE
We voted in favour of our own proposal to create a GHO/USDC ELCP by Gyroscope on Balancer category within the Aave Safety Module.

[ARFC] Orbit Program Renewal May 2024
Vote Cast: YAE
We are in favour of continuing the Orbit program so it can continue rewarding active governance participants and promoting a diverse voter base within the Aave Ecosystem.

[ARFC] Onboard tBTC to Aave v3 on Ethereum
Vote Cast: YAE
We voted in favour of on-boarding tBTC by Threshold Network to promote diversification of wBTC back assets like wBTC.

[ARFC Addendum] Increase Supply and Borrow Caps for weETH
Vote Cast: Aggressive
We voted in favour of increasing the Supply and Borrow cap of weETH on the back of strong demand for the market leading LRT asset. We believe this asset has the potential to drive meaningful deposit TVL and demand for the ETH debt.

[ARFC] Expansion of “Frontier”
Vote Cast: YAE
We support the expansion of the Frontier program by ACI who provides a yield guarantee the DAO whilst also enabling the DAO to actively support the network.

[TEMP CHECK] Deploy Aave V3 on Mode
Vote Cast: NAY
We do not support deploying Aave v3 on Mode due to perceived lack of business case and no committed liquidity mining program.

[ARFC] Chaos Labs Parameter Recommendations - sUSD on V3 Optimism - 05.23.2024
Vote Cast: YAE
We voted in favour of Choas Labs risk parameter adjustments following the recent sUSD de-pegging event.

[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 - 05.24.2024
Vote Cast: YAE
We voted in favour of Choas Labs risk parameter adjustments.

[ARFC] Increase Bridged USDC Reserve Factor Across All Deployments
Vote Cast: YAE
We voted in favour of our proposal to commence sun-setting USDC.e across all Aave v2 and v3 deployments.

AIP Votes

Onboard Llamarisk as a Risk Provider
Vote Cast: YAE
We voted in favour of on-boarding the more qualitative risk service provider LlamaRisk to compliment the efforts of Chaos Labs.

stkGHO Incentives
Vote Cast: YAE
We voted in favour of re-enabling AAVE emissions to stkGHO holders.

Hyperlane bridge adapter update to V3
Vote Cast: YAE
We voted in favour of this technical update by BGDLabs.

aAMPL Second Distribution
Vote Cast: YAE
We voted in favour of distributing aUSDC to allow full withdrawals by aAMPL suppliers to Aave v2 on Ethereum.

StablecoinIRUpdates
Vote Cast: YAE
We voted in favour of reducing the stable coin borrow rate across all Aave deployments in response to prevailing market conditions.

Updating weETH Risk Parameters
Vote Cast: YAE
We voted in favour of updating the weETH risk and borrow rate as presented in this proposal.

Polygon V2 Reserve Factor Updates & Interest Rate Increases
Vote Cast: YAE
We voted in favour of updating the RF and Borrow rate across v2 instances of Aave Protocol as part of the broader effort to deprecate v2 deployments.

Aave v3.1 Cantina competition
Vote Cast: YAE
We voted in favour of approving this small budget to support the Cantina Security Competition as suggested by BGDLabs.

Aave V1 Deprecation Phase 3
Vote Cast: YAE
We voted in favour of deprecating Aave v1.

ACI Ad Astra
Vote Cast: YAE
We voted in favour of extending the ACI engagement with the Aave DAO. The efforts of the ACI team have been critical to GHO returning to peg and the Merit program has led to meaningful TVL and debt increases across the protocol.

Generalized LT/LTV Reductions on Aave V3 Step 2
Vote Cast: YAE
We voted in favour of reducing the stable coin borrow rate across all Aave deployments in response to prevailing market conditions.

Reserve Factor Upgrades
Vote Cast: YAE
We voted in favour of updating the RF and Borrow rate across v2 instances of Aave Protocol as part of the broader effort to deprecate v2 deployments.

April Finance Update
Vote Cast: YAE
We voted in favour of extending the DAO runways to continue compensating service providers.

osETH Onboarding
Vote Cast: YAE
We voted in favour of on-boarding osETH to promote the adoption of more productive collateral assets, like LSTs, and offer users a wider variety of choice.

Chaos Labs Ethereum V2 LT Reductions
Vote Cast: YAE
We voted in favour of continued efforts to sunset the Eth v2 deployment.

Deprecation of Small-cap Stablecoins on V2 Ethereum
Vote Cast: YAE
We voted in favour of deprecating USDP, GUSD, LUSD, FRAX, and sUSD on Aave v2.

SUSD risk parameters update
Vote Cast: YAE
We voted in favour of updating sUSD risk parameters in response to sUSD loosing it peg.

LT/LTV Reductions on Aave V2 Stablecoins
Vote Cast: YAE
We voted in favour of continued efforts to sunset the Eth v2 deployment.

Migrate Robots to Chainlink Automation v2
Vote Cast: YAE
We voted in favour of this technical upgrade as recommended by BGDLabs.

weETH Aave V3 Base Onboarding
Vote Cast: YAE
We voted in favour of on-boarding weETH to Aave v3 on Base. We expect this integration to generate significant demand for weETH on the Base deployment.

Reserve Factor Upgrades
Vote Cast: YAE
We voted in favour of updating the RF and Borrow rate across v2 instances of Aave Protocol as part of the broader effort to deprecate v2 deployments.

Orbit Program Renewal
Vote Cast: YAE
We voted in favour of extending Orbit for another 3 months. The Orbit program promotes a diverse delegate voter base and encourages community to engage in governance matters with the prospect of becoming a recognised delegate.

[TokenLogic]

TokenLogic June Update

During June 2024, we participated in 13 of 14 Aave Improvement Proposals (AIPs) and 15 of 15 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	BGD for Review
Arbitrum Bridge	Approved
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

The May Funding update will make use of the Arbitrum and Optimism Bridging contracts. We expect the May Funding update to be submitted for vote during July.

Snapshot Votes

[ARFC] Safety Module - Create GHO/USDC E-CLP Category
Vote Cast: YAE
We voted in favour of our proposal to introduce the GHO/USDC ECLP into the Aave Safety Module. This will promote diversification of the assets within the Safety Module and provide liquidity for GHO.

[ARFC] Adjusting Interest Rate Curve for weETH on Arbitrum and Base
Vote Cast: YAE
We voted in favour amending the weETH borrow rates on Arbitrum and Base. The Aave Protocol has seen rapid growth in weETH deposits and it is driving meaningful demand for wETH debt which is a significant revenue earner for the Aave DAO.

[ARFC] Onboard BNBx to Aave V3 BNB Chain
Vote Cast: YAE
We voted in favour adding BNBx from Stader Labs to the Aave v3 instance deployed on Binance network. We expect this collateral to drive significant demand for BNB as users seek to earn yield.

[TEMP CHECK] Activate and Deploy GHO Safety Module on Arbitrum
Vote Cast: YAE
We voted in favour deploying a Safety Module on Arbitrum to support the pending GHO launch. On Ethereum, stkGHO has been the single largest GHO regain its peg.

[ARFC] Optimize ETH-correlated asset parameters
Vote Cast: YAE
We voted in favour revising the ETH correlated asset parameters to support enhanced capital efficiency for users.

[TEMP CHECK] Onboard artMETIS to Aave V3 on Metis Market
Vote Cast: YAE
We voted in favour of advancing artMETIS to teh ARFC stage of being onboarded to Aave Protocol. We are looking forward to learning what the Risk Service Providers think about the prospect of listing artMETIS.

[TEMP CHECK] AL Service Provider Proposal
Vote Cast: YAE
We voted in favour of Aave Labs developing the Aave v4 protocol and being onboarded as a contributor to the DAO for 1 year. We are excited to see what the team will produce and look forward to contributing to the design of the protocol. We do welcome the reduction in cost relative to the initial budget presented on the forum.

[ARFC Addendum] Update Asset Onboarding Framework
Vote Cast: YAE
We voted in favour of teams seeking to list a token on Aave Protocol being required to deposit $100 of the token into the shortExecutor to support initial seeding of the reserve upon deployment.

[ARFC] Set ACI as Emission Manager for Liquidity Mining Program
Vote Cast: YAE
We voted in favour of this proposal as it will streamline the distributiong of LM rewards across all instances of Aave Protocol. Shifting the burden from various teams to a single team.

[ARFC] Deployment of Aave on zkSync
Vote Cast: YAE
We voted in favour of deploying Aave v3 on zkSync. We would also like to see GHO deployed as well so that the Aave DAO grow a strong position in the emerging ecosystem.

[TEMP CHECK] Deploy whitelabel Aave V3 Market - Reental
Vote Cast: YAE
We voted in favour of progressing the Reental Aave v3 deployment forward to ARFC stage of the governance process.

[ARFC] Onboard USDC.e to Aave V3 Gnosis Chain
Vote Cast: YAE
We voted in favour of onboarding USDC.e to Aave v3 on Gnosis Network.

[TEMP CHECK] Deploy a Lido Aave v3 Instance
Vote Cast: YAE
We voted in favour of supporting the launch of Lido Alliance by deploying an Aave v3 instance focused on the Lido ecosystem.

[ARFC] Aave Liquidity Committee Funding Phase III
Vote Cast: YAE
We voted in favour of funding the Aave Liquidity Committee (ALC) with 600k GHO to continue supporting GHO’s liquidity and DeFi integrations over the next three months on Ethereum.

[ARFC] AL Service Provider Proposal
Vote Cast: YAE
We voted in favour onboarding Aave Labs for one-year duration as a technical contributor responsible for the development of Aave v4 and the new visual identity.

AIP Votes

Chaos Labs Parameter Recommendations sUSD on V3 Optimism
Vote Cast: YAE
We voted in favour of updating the sUSD parameters after the recent de-peg.

Onboard USDe Aave V3 Ethereum
Vote Cast: YAE
We support the onboarding of USDe onto Aave v3 Ethereum.

April Finance Update Part B
Vote Cast: YAE
As the author of this proposal, we voted in favour of the funding changes presented within.

Gho Steward Update
Vote Cast: YAE
We voted in favour of updating the GHO Steward role to provide more flexibility to the stewards supporting the DAO’s efforts to grow GHO’s adoption.

Adjusting Interest Rate Curve for weETH on Arbitrum
Vote Cast: YAE
We voted in favour of adjusting the Interest Rate Curve for weETH on Arbitrum network to align with Ethereum instance of Aave Protocol.

Chaos Labs Risk Parameter Updates Aave v3
Vote Cast: YAE
We voted in favour of risk parameter adjustments as recommended by Chaos Labs.

GHO Cross-Chain - Part 1
Vote Cast: YAE
We voted in favour of the first of two proposals to launch GHO on Arbitrum.

Optimize ETH-correlated asset parameters
Vote Cast: YAE
We voted in favour of updating the parameters on ETH-correlated assets to improve capital efficiency.

Set ACI as Emission Manager for Aave Liquidity Mining programs
Vote Cast: YAE
We voted in favour of appointing the Aave Chan Initiative (ACI) as the Emission Manager for liquidity mining programs across Aave instances. This will streamline the emission of Liquidity Mining efforts across each instance of Aave Protocol.

Set ACI as Emission Manager on the Avalanche network
Vote Cast: YAE
We voted in favour of appointing the ACI I multi-sig to operate an LM program on the Avalanche network on behalf of the Avalanche Foundation.

Onboard sUSDe to Aave V3 on Ethereum
Vote Cast: YAE
We voted in favour of onboarding of sUSDe to Aave v3 on Ethereum.

GHO Cross-Chain - Part 2
Vote Cast: YAE
We voted in favour of part two of two for launching GHO on Arbitrum.

GAL Service Provider Proposal
Vote Cast: YAE
We voted in favour of Aave Labs to act as a service provider for development of Aave V4 and a new visual identity.

[TokenLogic]

TokenLogic July Update

During July 2024, we participated in 9 of 9 Aave Improvement Proposals (AIPs) and 18 of 20 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	Approved and used in AIP 134
Arbitrum Bridge	Approved and used in AIP 134
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

Snapshot Votes

[ARFC] Reduce Reserve Factor on wstETH
Vote Cast: YAE
In support of the new Lido instance of Aave v3, we support the strategic alliance with Lido DAO and therefore are in favour of reducing the wstETH RF.

[ARFC] Onboard artMETIS to Aave V3 on Metis Market
Vote Cast: NAY
We voted NAY based upon the feedback provided by Chaos Labs and are supportive of revisiting this asset listing opportunity when more favourable conditions exist.

[ARFC] Deploy whitelabel Aave V3 Market - Reental
Vote Cast: YAE
We voted in support of deploying an instance of Aave v3 to support Reental. This is an interesting opportunity and will monitor this deployments uptake once live.

[TEMP CHECK] Onboard dlcBTC to Aave v3 on Ethereum and Arbitrum
Vote Cast: NAY
We voted NAY based upon current AUM and broader adoption within DeFi being lower than ideal for onboarding a new asset to Aave Protocol.

[ARFC] Deploy a Lido Aave v3 Instance
Vote Cast: YAE
We voted in support of deploying an instance of Aave v3 in collaboration with Lido DAO. We expect this market to be profitable longer term and will help the DAO grow AUM substantially during this market cycle.

[TEMP CHECK] Onboard slisBNB to Aave V3 BNB chain
Vote Cast: Missed
We would have voted in favour of this proposal had we participated in the vote.

[TEMP CHECK] Aave Events & Sponsorship Grant 2024
Vote Cast: YAE
We voted in support of this proposal. Brand & culture are critical to positioning Aave as the market leader. Revised lower budget was welcomed.

[TEMP CHECK] Deploy an Etherfi/Stablecoin Aave v3 Instance
Vote Cast: YAE
We voted in support of this proposal. We are cautiously optimistic about this deployment and trust the ACI teams judgement to have a solid growth plan for this instance of Aave v3.

[TEMP CHECK] Aave V3 Deployment on Aptos Mainnet
Vote Cast: YAE
We voted in support of this proposal. This has been in the works for a long time and it is great to Aave Protocol expand beyond the EVM.

[ARFC-Addendum] Update in Renewal of Aave Guardian 2024
Vote Cast: YAE
We voted in support of this proposal. The Guardian performs a critical role within the Aave stack and it is vital that the listed signers are very prompt to respond in the event they ever need to.

[TEMP CHECK] Deploy an Ethena Aave v3 Instance
Vote Cast: YAE
We voted in support of this proposal. This market will enable the Aave DAO to offer users access to leveraging sUSDe in a siloed like deployment.

[ARFC] TokenLogic + karpatkey Financial Service Providers - Phase II
Vote Cast: ABSTAIN
We Abstained from this vote as it is a significant funding request that recognizes TokenLogic’s and karpatkey’s contribution to the Aave DAO.

[ARFC] GHO Parameter Adjustment - Governance Process Amendment
Vote Cast: YAE
We voted in support of this proposal. This proposal enables the DAO to implement GHO parameter changes on Arbitrum via the Direct-to-AIP governance process.

[ARFC] Deploy USDC and USDT GSM On Arbitrum
Vote Cast: YAE
We voted in support of this proposal. By deploying the GSM natively on Arbitrum it removes the need for user to transfer GHO between networks and it should also dampen the volatility in GHO’s price over time.

[ARFC] - Chaos Labs Risk Parameter Updates - sAVAX on Aave V3 Avalanche - 07.16.2024
Vote Cast: YAE
We voted in support of this proposal as recommended by Chaos Labs.

[ARFC] Aave Events & Sponsorship Proposal 2024
Vote Cast: YAE
We voted in support of this proposal. Brand & culture are critical to positioning Aave as the market leader. Revised lower budget was welcomed.

[TEMP CHECK] Onboard CDCETH to Aave V3 on Ethereum
Vote Cast: ABSTAIN
We voted to Abstain on this proposal. Our preference is to revisit onboarding CDCETH at a later date where there is better liquidity and broader adoption within DeFi.

[ARFC-Addendum] Update Boosters for Merit Round 7
Vote Cast: YAE
We voted in favour on this proposal. Both Merit and Ahab programs are critical for the DAO’s growth ambitions.

[ARFC] Onboarding weETH to Aave V3 on Scroll
Vote Cast: Missed
We would have voted in favour of this proposal had we participated in the vote. weETH has been an great AUM and revenue growth story for the Aave DAO.

[ARFC] Chaos Labs Risk Parameter Updates - Increase USDe Debt Ceiling on V3 Ethereum - 07.22.2024
Vote Cast: YAE
We voted in favour on this proposal. We support increasing USDe’s debt ceiling as recommended by Chaos Labs.

AIP Votes

Increase Bridged USDC Reserve Factor Across All Deployments
Vote Cast: YAE
We voted in favour to increase non native USDC Reserve Factor, increase the RF on Aave v2 (Eth, Avax, Poly) and to increase the Slope1 parameter on Poly v2 to encourage users to migrate to Aave v3 and native USDC on each respective network.

Request for Bounty Payout - June 2024
Vote Cast: YAE
We voted in favour to reward the $1,000 bounty recommended by BGD Labs as part of the ongoing ImmuneFi Program.

Increase weETH Caps on Base
Vote Cast: YAE
We voted in favour to increase the weETH Supply Cap on Base and expect this AIP to accelerate the AUM growth of the Aave v3 deployment. weETH has demonstrated strong potential for AUM and revenue growth from weETH deposits and wETH plus wstETH debt.

Stablecoin IR Curve Amendment
Vote Cast: YAE
We voted in favour to maintain Aave’s competitiveness by reducing stablecoin borrow rates in line with broader market conditions across all instances of Aave v3.

Increase CCIP Facilitator Capacity
Vote Cast: YAE
We voted in favour to increase the Ethereum CCIP Bucket and Arbitrum Facilitator to support the continued growth of GHO on Arbitrum. The magnitude of the capacity increase is small and we expect it to be filled quickly.

Aave v3.1 upgrade
Vote Cast: YAE
We voted in favour of this technical upgrade, Aave v3.1, as prepared by BGDLabs.

Lido Ethereum Instance Activation
Vote Cast: YAE
We voted in favour of activating Aave v3 Lido Instance. A pure ETH correlated market should see strong adoption in this market and in combination with the Ahab program plus LM rewards from Lido, we expect this liquidity pool to grow strongly and in time become a net revenue generating deployment for the Aave DAO.

May Funding Update
Vote Cast: YAE
We voted in favour of the May Funding update as it will fund the Frontier program by ACI, extend the DAO’s runway and also help support GHO’s peg by acquiring GHO on market which may lead to USDC and USDT deposits in the GSMs.

Treasury Tooling Payment
Vote Cast: YAE
We voted in favour of the Treasury Tooling Payment in line with the commitment the Aave DAO made during the ARFC part of the governance process. Note: TokenLogic is also the beneficiary of this payment.

[TokenLogic]

TokenLogic August Update

During August 2024, we participated in 21 of 21 Aave Improvement Proposals (AIPs) and 15 of 15 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	Approved and used in AIP 134
Arbitrum Bridge	Approved and used in AIP 134
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

Snapshot Votes

[TEMP CHECK] AAVEnomics update
Vote Cast: YAE
We are in favor of the revised Aave Tokenomics and the vision it creates for the Aave DAO.

[ARFC] Onboard slisBNB to Aave V3 on BNB Chain
Vote Cast: YAE
We are aligned and support Chaos Lab’s recommendation.

[TEMP CHECK] Onboard osGNO to Aave v3 Gnosis
Vote Cast: YAE
We support adding Stakewise’s osGNO LST to the Aave v3 deployment on the Gnosis network.

[ARFC] Merit Base Incentives and Superfest Matching
Vote Cast: YAE
Supporting AAVE growth on BASE.

[ARFC-Addendum] Update GHO Dynamics and StkGHO Fast Exit
Vote Cast: YAE
We support having the limited fast exit mechanism available to stkGHO holders. We expect this to improve the attractiveness of holding stkGHO as it offers users and alternative to the current cool down period.

[TEMP CHECK] Onboard steakLRT to Aave v3 Lido Instance
Vote Cast: YAE
We are supportive of onboarding LRTs built on Mellow. Onboarding LRTs has the potential to drive significant demand for wstETH and ETH debt, and thus revenue to the DAO.

[ARFC] Remove Frax from Isolation Mode and onboard sFRAX to Aave v3 Mainnet
Vote Cast: YAE
The onboarding of sFRAX to AAVE v3 mainnet will generate additional utility and revenue for Aave. The strict parameterization proposed by Chaos Labs sufficiently mitigates the risks associated with this asset.

[ARFC] Add rsETH to Aave V3 Ethereum
Vote Cast: YAE
Onboarding LRTs has the potential to drive significant demand for wstETH and ETH debt, and thus revenue to the DAO. We agree with the risk service providers and are waiting for the extra analysis from BGD Labs.

[ARFC] Onboard ezETH to Aave V3 Lido Instance
Vote Cast:** YAE**
Onboarding battle-tested LRTs to the Lido Instance has the potential to drive significant demand for wstETH debt, and thus revenue to the DAO.

[ARFC] Increase WETH Optimal Ratio to 90% on all Aave markets
Vote Cast: YAE
Supporting this adjustment which aims to enhance capital efficiency.

[ARFC Addendum] Updated Framework for ARFC and TEMP CHECK Proposals
Vote Cast: YAE
The new framework provides a clear set of direction for the lifecycle of a proposal. This will will help collaboration and decentralization of Aave Governance.

[ARFC] Increase Community Preference For Supply Cap Limits
Vote Cast: YAE
We support this proposal because it will enhance capital efficiency and drive usage to the LST markets.

[ARFC] Deploy an Etherfi/Stablecoin Aave v3 Instance
Vote Cast: YAE
We support the opening of a dedicated weETH/stablecoin Aave v3 instance to offer weETH holders more tailored options.

[TEMP CHECK] Onboard STONE to Aave V3 on Scroll
Vote Cast: YAE
Supporting this proposal.

[TEMP CHECK] Onboard USDS and sUSDS to Aave v3
Vote cast: YAE
We are excited about the next chapter of growth and collaborative synergies between Maker and Aave.

AIP Votes

Events Grant 2024
Vote Cast: YAE
We voted in favour of the Events Grant 2024.

wETH LTV0 Aave V3 Lido Instance
Vote Cast: YAE
We voted in favour of this initiative because it refocuses the instance on leveraged staking with wstETH, reduces risks associated with wETH as collateral, and encourages users to align with the Lido ecosystem by migrating to wstETH.

Risk Parameter Updates - sAVAX on Aave V3 Avalanche
Vote Cast: YAE
We voted in favour of this update because it will enhance capital efficiency while keeping conservative LTV and LT.

Onboard USDC.e on Gnosis
Vote Cast: YAE
We voted in favour of this onboarding of USDC.e on Gnosis.

Onboarding weETH to Aave V3 on Scroll
Vote Cast: YAE
We voted in favour of this onboarding because it seems natural to strengthen AAVE and Etherfi collaboration by onboarding their LRT on Scroll.

GHO Arbitrum Parameter Adjustments
Vote Cast: YAE
We voted in favour of this proposal because there is strong demand for GHO on Arbitrum and these parameter adjustments will take advantage of the ARB emissions to develop GHO’s growth on Arbitrum.

TokenLogic + karpatkey - Phase II
Vote Cast: Abstain
We Abstained from this vote as it is a significant funding request that recognizes TokenLogic’s and karpatkey’s contribution to the Aave DAO.

ADI Shuffle Update
Vote Cast: YAE
We voted in favour of this technical upgrade, ADI Shuffle, as prepared by BGDLabs.

Risk Parameter Updates - Increase USDe Debt Ceiling on V3 Ethereum
Vote Cast: YAE
We voted in favour of this Risk Parameter Updates for USDe.

Reduce Reserve Factor on wstETH
Vote Cast: YAE
We voted in favor of this initiative because with the emergence of the alliance between Lido and Aave, we are supportive of reducing the Reserve Factor (RF) across all instances of Aave v3 where wstETH is listed.

May Funding Update
Vote Cast: YAE
We voted in favour of the May Funding update as it will fund the Frontier program by ACI, extend the DAO’s runway and also help support GHO’s peg by acquiring GHO on market which may lead to USDC and USDT deposits in the GSMs.

Reserve Factor Updates Mid July
Vote Cast: YAE
We voted in favour to increase non native USDC Reserve Factor, increase the RF on Aave v2 (Eth, Avax, Poly) and to increase the Slope1 parameter on Poly v2 to encourage users to migrate to Aave v3 and native USDC on each respective network.

a.DI ZkSync path activation
Vote Cast: YAE
We voted in favour of this technical upgrade, ADI ZkSync path activation, as prepared by BGDLabs.

Update PoR Executor V3 Robot
Vote Cast: YAE
We voted in favour of this technical upgrade, Proof of Reserve, as prepared by BGDLabs.

Merit Base Incentives and Superfest Matching
Vote Cast: YAE
We voted in favour of this incentive program on Base because we think it will increase Aave’s market share on the growing Base market.

GHO Borrow Rate Update
Vote Cast: YAE
We voted in favour of this update because we think that lowering GHO borrow rate, following the general decrease in demand for stablecoins, will increase the attractiveness of GHO for borrowers.

Enable Metis as Collateral on Metis Chain
Vote Cast: YAE
We voted in favour of this proposal because we think that adding Metis as collateral will push Aave growth on Metis Chain.

Aave v3 zkSync Activation
Vote Cast: YAE
We voted in support of this proposal. This has been in the works for a long time and it is great to see Aave Protocol expand to L2s.

Reserve Factor Updates August
Vote Cast: YAE
We voted in favour to increase non native USDC Reserve Factor, increase the RF on Aave v2 (Eth, Avax, Poly) and to increase the Slope1 parameter on Poly v2 to encourage users to migrate to Aave v3 and native USDC on each respective network.

Increase WETH Optimal Ratio
Vote Cast: YAE
We voted in favour of this adjustment which aims to enhance capital efficiency.

July Funding Update
Vote Cast: YAE
We voted in favour of this funding update.

[TokenLogic]

TokenLogic September Update

During September 2024, we participated in 17 of 17 Aave Improvement Proposals (AIPs) and 12 of 14 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	Approved and used in AIP 134
Arbitrum Bridge	Approved and used in AIP 134
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

Snapshot Votes

[ARFC] Onboard cbBTC to Aave v3 on Base and Mainnet
Vote Cast: YAE
We are in favor of the onboarding of cbBTC and to expand Bitcoin DeFi into Aave.

[TEMP CHECK] Onboarding swBTC to Aave V3 Ethereum
Vote Cast: Didn’t vote.
We would have voted NAE in accordance to the reserves from LlamaRisk.

[ARFC] Remove Community Preference For Supply Cap Limits
Vote Cast: Didn’t vote.
We would have voted YAE.

[ARFC] Chaos Labs Risk Parameter Updates - sAVAX LT/LTV Adjustment
Vote Cast: YAE
Supporting these risk parameter updates for sAVAX. It will make it more capital efficient and drive more utilization on the Avalanche market.

[ARFC] Chaos Labs Risk Parameter Updates - LTV and LT Alignment
Vote Cast: YAE
We support this risk update as it will ease user experience and make some markets more efficient.

[ARFC] BGD. Aave v3.2: liquid eModes
Vote Cast: YAE
We are supportive this Aave v3.2 as it will be bring more composability with the introduction of liquid eModes. Very important update which will make Aave even more efficient.

[ARFC] Superlend Profit Share Proposal, Deploying a Friendly Fork of Aave V3 on Etherlink (Stage 2 EVM Rollup) and Arbitrum
Vote Cast: YAE
We are in favor of this proposal as we always welcome friendly forks.

[TEMP CHECK] USTB/BUIDL GSM
Vote Cast: YAE
We are in favor of this proposal as we think it is important to diversify yield generating collaterals for GSM.

[TEMP CHECK] Add support for Wrapped OETH (wOETH) to Aave v3
Vote Cast:** YAE**
We are supporting this proposal as WOETH has been an important LST for quite some time now. We will be waiting for a risk report from Chaos Labs or LlamaRisk before the ARFC.

[ARFC] GHO Steward v2 Upgrade
Vote Cast: YAE
Supporting this adjustment to GHO Steward as it will ease the development of GHO’s ecosystem.

[ARFC] Lido Instance - wstETH Slope1 & Uoptimal Update
Vote Cast: YAE
The new framework of the Lido Instance and the liquid eModes will make boost the capital efficiency of the whole Instance.

[TEMP CHECK] Add support for Wrapped Super OETH (wsuperOETHb) to Aave v3
Vote Cast: YAE
We are supporting this proposal but we will be waiting for a risk report from Chaos Labs or LlamaRisk before the ARFC.

[TEMP CHECK] Deploy a Gnosis DAO Credit Line Aave v3 Instance
Vote Cast: YAE
We support this proposal as it could open a new path for GHO’s growth.

[TEMP CHECK] Deploy a Crypto.com Aave v3 Instance
Vote Cast: YAE
Supporting this proposal.

AIP Votes

Aave v3 EtherFi Ethereum Activation
Vote Cast: YAE
We support the opening of a dedicated weETH/stablecoin Aave v3 instance to offer weETH holders more tailored options…

Gho Borrow Rate Update August 2024
Vote Cast: YAE
We voted in favour of this borrow rate decrease to be more competitive in the market.

Stablecoin IR Curve Amendment
Vote Cast: YAE
We voted in favour of this interest rate curve decrease to be more aligned with the market.

Reserve Factor Updates Late August
Vote Cast: YAE
We voted in favour of this update because it encourages migration from v2 instances of the Aave Protocol to v3.

Chaos Labs Risk Parameter Updates - Decrease Supply and Borrow Caps on Aave V3
Vote Cast: YAE
We voted in favour of this update because with utilization rate so low for these stablecoins it exposes the protocol to unnecessary risks.

Orbit Program Renewal - Q3 2024
Vote Cast: YAE
We voted in favour of this proposal because the Orbit program has proven to be a solid value addition to the protocol and should be renewed.

Harmonize weETH Parameters
Vote Cast: YAE
We vote in favor of this proposal as it will provide more consistency over all the networks where weETH is deployed on and bring more revenue to Aave DAO.

wstETH Borrow Cap Reduction
Vote Cast: YAE
We voted in favour of this proposal to prevent recursive looping of wstETH deposits before the upcoming implementation of wstETH deposit liquidity mining rewards.

Aave v3 zkSync Activation
Vote Cast: YAE
We voted in favour of Activation because we support Aave’s growth on zkSync.

Gho Borrow Rate Update September 2024
Vote Cast: YAE
We voted in favour of this borrow rate decrease to be more competitive in the market.

Onboard Tbtc
Vote Cast: YAE
We voted in favour of this onboarding as we think tBTC is one of the best asset to develop Bitcoin’s DeFi on Ethereum.

Onboard CbBTC on Mainnet and Base
Vote Cast: YAE
We voted in favour of this onboarding to develop Bitcoin’s DeFi.

Reserve Factor Updates Late September
Vote Cast: YAE
We voted in favour of this update because it encourages migration from v2 instances of the Aave Protocol to v3.

Set ACI as Emission Manager for wstETH & tBTC
Vote Cast: YAE
We voted in favour of this proposal as we think that ACI is well-positioned to manage these emissions effectively.

Chaos Labs Risk Parameter Updates - sAVAX LT/LTV Adjustment
Vote Cast: YAE
We voted in favour of these risk parameter updates for sAVAX. It will make it more capital efficient and drive more utilization on the Avalanche market.

Chaos Labs Risk Parameter Updates - LTV and LT Alignment
Vote Cast: YAE
We voted in favour of this risk update as it will ease user experience and make some markets more efficient…

Update flashBorrowers
Vote Cast: YAE
We voted in favour of this proposal because Contango, CIAN and Index Coop are great partners.

[TokenLogic]

TokenLogic October Update

During October 2024, we participated in 18 of 18 Aave Improvement Proposals (AIPs) and 16 of 18 Snapshot votes.

Service Provider Scope beyond the Partnership with Karpatkey

A quick summary of the current status is shown below:

Contract Scope	Status
Polygon Plasma Bridge	Approved and used in AIP 103
Optimism Bridge	Approved and used in AIP 134
Arbitrum Bridge	Approved and used in AIP 134
Aave Swap Upgrade	BGD for Review
SAM Upgrade	BGD for Review

Snapshot Votes

[ARFC] Aave Liquidity Committee Funding Phase IV
Vote Cast: YAE
We support this funding as it is a necessary budget to support GHO’s growth on mainnet and Arbitrum.

[ARFC] Onboard wstETH to Aave V3 on BNB Chain
Vote Cast: YAE.
Supporting this onboarding, Lido has been an important partner and its expansion to BNB Chain is welcomed.

[ARFC] Onboard USDC to Aave v3 Lido Instance
Vote Cast: YAE.
We support this onboarding as it should enhance the liquidity of the whole instance and will attract more deposits.

[TEMP CHECK] Deploy aUSDC GSM on Ethereum
Vote Cast: YAE
Supporting this deployment as it will enable a better capital efficiency of GHO’s collateral, boost the DAO’s revenues and help strenghtening GHO’s peg.

[ARFC] Onboard sUSDe, USDe and weETH to Aave v3 on zkSync
Vote Cast: YAE
We support this onboarding as it introduces high-quality assets from reputable partners, enhancing asset options for zkSync users. This addition will attract significant deposits to the zkSync market, benefiting users with reliable and valuable assets while fostering growth in the zkSync ecosystem.

[TEMP CHECK] Onboard EIGEN to Aave V3 Ethereum
Vote Cast: ABSTAIN
We voted abstain as we think that there is a limited upside for Aave and no indication of demand within broader ecosystem.

[ARFC] Onboard FRAX to Aave v3 Lido Instance
Vote Cast: NAE
We are not in favor of this proposal as we welcome FRAX AMO into the main market and less so on the Lido instance. We would like to see demand for USDS evolve first.

[ARFC] Renew LlamaRisk as Risk Service Provider
Vote Cast: YAE
We are in favor of this proposal as we think LlamaRisk has done some impressive job regarding their risk management mission.

[ARFC] Continuous Security Proposal Aave <> Certora
Vote Cast: YAE
We support this proposal, as Certora has consistently demonstrated exceptional quality in maintaining the protocol’s security.

[ARFC] Chaos Labs <> Aave Risk Management Service Renewal
Vote Cast: didn’t vote
We would have voted YAE as Chaos Labs has done very valuable work for Aave’s risk mitigations processes over the past two years.

[ARFC] Launch GHO on Base & set ACI as Emissions Manager for rewards
Vote Cast: YAE
We are supporting this deployment as we think that expanding to additional networks now is strategic as it will enhance the protocol’s flexibility across multiple blockchain ecosystems.

[ARFC] Launch GHO on Avalanche & set ACI as Emissions Manager for rewards
Vote Cast: YAE
We are supporting this deployment as we think that expanding to additional networks now is strategic as it will enhance the protocol’s flexibility across multiple blockchain ecosystems.

[TEMP CHECK] Add rlUSD to Aave v3 Main Market on Ethereum
Vote Cast: YAE
We support this proposal, as Aave could play a key role in advancing the growth strategy of rlUSD. We look forward to further insights from the risk management teams before the launch to ensure comprehensive preparedness.

[ARFC] Remove Frax from Isolation Mode on Aave v3 Mainnet
Vote Cast: ABSTAIN

[TEMP CHECK] World Liberty Financial Aave v3 Instance on Ethereum Mainnet Proposal
Vote Cast: YAE
We are in favor of this proposal as we think that it is an interesting partnership. Deploying a new instance with revenue and token sharing is a great deal for the DAO and outlines the importance of WLF partnership with Aave.

[ARFC] Aave <> BGD Labs. Phase 4
Vote Cast: YAE
We fully support this proposal, as BGD is essential to Aave’s ongoing development. The recent 3.2 upgrade was pivotal, and we eagerly anticipate future upgrades, including the upcoming Umbrella release, to further enhance the protocol.

[ARFC] Dolce Vita Extension
Vote Cast: YAE
We support this initiative.

[ARFC] Launch aUSDC GSM on Ethereum
Vote Cast: YAE
Supporting this deployment as it will enable a better capital efficiency of GHO’s collateral, boost the DAO’s revenues and help strenghtening GHO’s peg.

AIP Votes

Onboard USDS on Aave V3 Ethereum Main and Lido Instance
Vote Cast: YAE
We support this onboarding as DAI has always been a cornerstone asset of Aave and USDS will follow its path.

Set ACI as Emission Manager for USDS, aUSDS and awstETH
Vote Cast: YAE
We voted in favor of this proposal, as we believe the liquidity mining campaign aligns well with the Ahab program. ACI has been managing this initiative effectively, and we are confident in their ability to drive its success.

Onboard USDC to Aave V3 Lido Instance
Vote Cast: YAE
We support this onboarding as it should enhance the liquidity of the whole instance and will attract more deposits.

Upgrade all Aave instances to 3.2
Vote Cast: YAE
We voted in favour of this update because liquid eModes will be game changer for the growth of Aave.

Aave Liquidity Committee Funding Phase IV
Vote Cast: YAE
We support this funding as it is a necessary budget to support GHO’s growth on mainnet and Arbitrum.

May Funding Update Part B
Vote Cast: YAE
We voted in favour of this proposal because it will improve the capital efficiency of the DAO’s treasury.

Increase cbBTC Supply Caps
Vote Cast: YAE
We vote in favor of this proposal as this increase in supply caps coupled with the cbBTC merit program will attract more users and capital to the Aave ecosystem.

3.2 patch for legacy periphery
Vote Cast: YAE
We are in favor of this proposal.

Increase USDS Borrow Rate to Match Sky Savings Rate
Vote Cast: YAE
We voted in favour of this increase.

Update legacy guardian
Vote Cast: YAE
We voted in favour of this technical maintenance update.

Renew LlamaRisk as Risk Service Provider
Vote Cast: YAE
We voted in favor of this proposal as we think LlamaRisk has done some impressive job regarding their risk management mission.

Chaos Labs <> Aave Risk Management Service Renewal
Vote Cast: YAE
We voted in favor of this proposal as Chaos Labs has done very valuable work for Aave’s risk mitigations processes over the past two years.

Reserve Factor Updates Mid October
Vote Cast: YAE
We voted in favour of this update because it encourages migration from v2 instances of the Aave Protocol to v3.

wstETH Slope1 & Uoptimal Update
Vote Cast: YAE
We voted in favour of this proposal as we think that this update will get offer a better capital efficiency for leverage looping Lido-related assets.

Aave <> Certora Continuous Security Services
Vote Cast: YAE
We voted in favour of this proposal, as Certora has consistently demonstrated exceptional quality in maintaining the protocol’s security.

Onboard ezETH to Lido Instance
Vote Cast: YAE
We voted in favour of this onboarding because it will bring more synergies to the Lido instance and will attract deposits in the Aave ecosystem.

Fix USDS Borrow Rate to Match Sky Savings Rate
Vote Cast: YAE
We voted in favour of this proposal because it addresses unnecessarily high borrow rate for USDS.

Aave BGD Phase 4
Vote Cast: YAE
We voted in favour of this proposal because BGD is essential to Aave’s ongoing development. The recent 3.2 upgrade was pivotal, and we eagerly anticipate future upgrades, including the upcoming Umbrella release, to further enhance the protocol.