TokenLogic Delegate Platform

Delegate Platforms
21

TokenLogic January Update

During January 2025, we participated in 13 of 13 Aave Improvement Proposals (AIPs), and 16 of 16 Snapshot votes.

Snapshot Votes

[TEMP CHECK] Deploy Aave v3 on Mantle
Vote Cast: YAE
Supporting this deployment. Mantle is a strong ecosystem and proposed some solid liquidity commitments this coupled with the user base from Bybit makes the Mantle deployment a great opportunity for Aave.

[ARFC] Add rlUSD to Core Instance
Vote Cast: YAE
Supporting this onboarding, rlUSD is the stablecoin from Ripple and has already received a NYFDS approval. This onboarding will widen the stablecoin landscape on Aave with a new strong contender.

[ARFC]. BGD. Aave v3.3 Sherlock contest
Vote Cast: YAE
We fully support this proposal, as we believe conducting this audit prior to the deployment of Aave v3.3 is essential. Aave consistently upholds the highest security standards, and this audit aligns perfectly with those principles.

[TEMP CHECK] Deploy Aave on Rootstock Network
Vote Cast: YAE
We fully support this deployment. As the Bitcoin ecosystem continues to grow rapidly, Aave’s expansion to the most battle-tested Bitcoin Layer 2 presents an excellent opportunity to tap into this evolving landscape.

[TEMP CHECK] Add EURC to BASE Aave V3 Instance
Vote Cast: YAE
We support this onboarding, as we believe it has the potential to attract a new wave of Europe-based users to Aave.

[ARFC] Extend GHO Steward on Aave Prime Instance
Vote Cast: YAE
We support this proposal, as we were directly involved in its development. Extending the GHO Steward to the Prime Instance will foster GHO’s growth through a more modular approach.

[ARFC] Prime Instance - wstETH Borrow Rate + rsETH Supply Cap Update
Vote Cast: YAE
We support this update. By lowering the wstETH borrow rate, this initiative will drive growth for the Prime Instance, encouraging new LRT deployments and positioning it as the leading platform for LRT/LST looping strategies in the market.

[ARFC] Whitelist Balancer DAO to Claim Liquidity Mining Rewards
Vote Cast: YAE
We fully support this proposal. With the launch of Balancer v3, boosted pools will rehypothecate LP tokens to Aave, enabling the generation of additional yield. For some LPs, Balancer will need to manage the claiming of liquidity mining rewards for redistribution to liquidity providers.

[TEMP CHECK] Aave <> Chainlink SVR v1 integration
Vote Cast: YAE
We support this proposal. The SVR program has been in development for quite some time, and we’re excited to see it go live, enhancing and optimizing Aave’s liquidation process to its fullest potential.

[TEMP CHECK] Joint Incentive Program With Polygon
Vote Cast: NAE
We are not supporting this proposal. While this proposal provides an opportunity to collaborate and strengthen ties, we recommend focusing on growth initiatives tied to new Aave deployments. Our comment on the applicable thread can be found [here[([TEMP CHECK] Joint Incentive Program With Polygon - #10 by Kene_StableLab).

[ARFC] Sunset stMATIC on Polygon instance
Vote Cast: YAE
We support this proposal. In light of Lido’s decision to sunset stMATIC, it is logical for Aave to align with this move and begin phasing out the stMATIC reserve on the Polygon instance.

[ARFC] Add EURC to BASE Aave V3
Vote Cast: YAE
We support this onboarding, as we believe it has the potential to attract a new wave of Europe-based users to Aave.

[ARFC] Deploy stataUSDC and stataUSDT GSMs on Ethereum
Vote Cast: YAE
We support this proposal. Deploying stataToken GSMs will enable the DAO to generate passive yield on idle stablecoins while also accelerating GHO growth by making the GSMs more capital-efficient.

[ARFC] wstETH Borrow Rate Update
Vote Cast: YAE
We support this proposal, as we anticipate it will drive the adoption of LRTs across multiple Aave instances.

[TEMP CHECK] Onboard pufETH to Aave V3 Core Instance
Vote Cast: NAE
We do not support this onboarding. As new LRTs are introduced to Aave, the strategy focuses on deploying them with eModes utilizing wstETH debt on Prime. Onboarding pufETH on Core would grant access to WETH, which is not aligned with this approach. We will closely monitor the ARFC and await input from the Risk providers on this matter. Should this change, we are open to shifting our vote at the ARFC stage.

[ARFC] sUSD Risk Parameter Adjustment
Vote Cast: YAE
We are in favor of this adjustment.

AIP Votes

Proposal to Remove USDS from sUSDe Liquid E-Mode in Aave Prime Instance
Vote Cast: YAE
We supported this proposal. USDS on the Prime instance uses SKY’s D3M to provide direct liquidity, key to attracting WETH and wstETH deposits. However, adding USDS to the sUSDe Liquid E-Mode has driven looping strategies, causing interest rate spikes that negatively impact ETH-collateralized borrowers.

Aave v3 Gnosis Instance Updates Part 1
Vote Cast: YAE
We voted in favor of this proposal and are keen to see growth of the Gnosis Instance.

Deploy 10M GHO into Aave v3 Lido Instance
Vote Cast: YAE
We support this deployment as it will provide the initial liquidity for GHO on the Prime instance, enhancing the DAO’s capital efficiency.

Aave v3.3 Sherlock contest funding
Vote Cast: YAE
We fully support this funding, as we believe conducting this audit prior to the deployment of Aave v3.3 is essential. Aave consistently upholds the highest security standards, and this audit aligns perfectly with those principles.

Funding Proposal: karpatkey as GHO Growth Service Provider
Vote Cast: YAE
We support this funding and are excited to see GHO’s growth on Gnosis Chain.

Onboard ezETH to Arbitrum and Base Instances
Vote Cast: YAE
We voted in favour of this onboarding and are keen to see Renzo’s growth on Arbitrum and Base Instances.

Onboard sUSDe and weETH to Aave v3 on zkSync
Vote Cast: YAE
We voted in favour of this onboarding and are keen to see Ethena and Etherfi’s growth on zkSync Instance.

a.DI Celo path activation
Vote Cast: YAE
We voted in favor of this proposal, as it lays the groundwork for Aave’s future expansion on Celo.

Onboard LBTC & Enable LBTC/WBTC liquid E-Mode on Aave v3 Core Instance
Vote Cast: YAE
We voted in favour of this onboarding. LBTC is the strongest BTC LRT on the market and we are keen to see its growth on the Core Instance.

Update Lido GHO base borrow rate
Vote Cast: YAE
We voted in favor of this proposal. The previous Prime borrow rate for GHO was set in more favorable market conditions. With current low utilization, reducing the borrow rate should help stimulate market activity.

Set REZ, KERNEL and rsETH Emission Admin to ACI
Vote Cast: YAE
We voted in favor of this proposal, as it will fund a liquidity mining campaign to promote ezETH and rsETH deposits across multiple Aave instances.

GHO Risk Stewards Update and GHO CCIP Integration Upgrade
Vote Cast: YAE
We voted in favor of this technical upgrade of the GHO Risk Stewards.

Prime Instance - wstETH Borrow Rate + rsETH Supply Cap Update
Vote Cast: YAE
We support this update. By lowering the wstETH borrow rate, this initiative will drive growth for the Prime Instance, encouraging new LRT deployments and positioning it as the leading platform for LRT/LST looping strategies in the market.

22

TokenLogic February Update

During February 2025, we participated in 21 of 21 Aave Improvement Proposals (AIPs), and 19 of 19 Snapshot votes.

Snapshot Votes

[ARFC] Deploy Aave v3 on Sonic
Vote Cast: YAE
We support this deployment. Mantle is a vibrant ecosystem and has proposed strong liquidity commitments, making this deployment a valuable opportunity for Aave.

sUSDe and USDe Price Feed Update
Vote Cast: NAE
We do not support this update. We generally oppose hardcoding oracles, and there is no demonstrated demand or urgent need that justifies this change.

[ARFC] Supply and Borrow Cap Risk Oracle Activation
Vote Cast: YAE
We support this proposal, as we believe this update could streamline certain processes and contribute to reducing the protocol’s risk exposure.

[ARFC] Adjust Risk Parameters for Aave V2 and V3 on Polygon
Vote Cast: YAE
We fully support this proposal.

[ARFC] Deploy stataUSDC GSM on Base
Vote Cast: YAE
We support this deployment, as StataGSM will contribute to the growth of GHO on Base while helping to mitigate volatility caused by limited secondary market liquidity. Introducing the Stata version will enhance capital efficiency and support the expansion of the USDC market on Base.

[ARFC] Prime Instance - Restore ETH LTV
Vote Cast: YAE
We support this proposal, as the introduction of Merit rewards will effectively eliminate the risk of recursive loops, removing the need to maintain ETH’s LTV at 0%.

[ARFC] Proposal to Allocate AGD treasury to Aave DAO
Vote Cast: YAE
We support this proposal.

[TEMP CHECK] Add bCSPX to Aave V3 Gnosis Instance
Vote Cast: YAE
We support this proposal. It is exciting to see new kind of RWA coming on chain and it is welcomed on Aave.

[ARFC] Aave V2 Deprecation Update - Disable New Borrows, IR Curve and Reserve Factor Adjustments
Vote Cast: YAE
We support this proposal, as it represents a logical next step in the ongoing process of deprecating the Aave V2 instances.

[TEMP CHECK] Deploy Aave v3 on Ink
Vote Cast: YAE
We fully support this deployment and are eager to see growth on Ink Chain while gaining access to Kraken’s user base through this initiative. We look forward to the confirmation of deposits and incentive commitments at the ARFC stage.

[TEMP CHECK] Recognize HyperLend as a Friendly Fork
Vote Cast: YAE
We support this proposal, as it meets all the necessary criteria for HyperLend to be officially recognized as a friendly fork.

[ARFC] Core & Base - BTC Correlated Asset Update
Vote Cast: YAE
We support this update, as it will foster the growth of BTC-correlated assets across both Mainnet and Base instances. Lombard has established itself as the leading BTC LST, and enabling its use alongside other BTC wrappers has proven to be a key driver of growth for BTC-related markets.

[ARFC] Update AAVE LTV and Liquidation Threshold Percentages
Vote Cast: YAE
We support this proposal, as the analysis provided by risk teams highlights the strength of the AAVE token during market downturns and the good secondary liquidity. These factors make this conservative adjustment appropriate.

[ARFC] Add sUSDE to Aave V3 Base Instance
Vote Cast: YAE
We support this onboarding, as sUSDe has proven to be a valuable asset for leverage strategies on both Core and Prime instances. When market conditions improve, sUSDe’s growth drives up stablecoin borrow rates across the board.

[TEMP CHECK] Add support for Wrapped Origin Sonic (wOS) to Aave v3
Vote Cast: YAE
We support this onboarding, as it is expected to drive demand within the new Sonic markets. Origin Sonic, as the second-largest S LST, is well-positioned to generate meaningful borrowing demand for S.

[ARFC] Onboard rsETH to Arbitrum and Base V3 Instances
Vote Cast: YAE
We support this onboarding, as rsETH has demonstrated strong growth on Core and Prime markets. We aim to replicate these successful strategies on Arbitrum and Base, where rsETH will benefit from access to low-cost wstETH debt through the ongoing incentives program.

[TEMP CHECK] Deploy Aave on Soneium
Vote Cast: YAE
We support this deployment and look forward to seeing growth on Sony Block Solutions Labs’ L2. This initiative will position Aave as the core liquidity layer while leveraging Sony’s distribution channels to access a broader user base.

[TEMP CHECK] Deploy Aave on megaETH
Vote Cast: YAE
We support this deployment and look forward to receiving further details from the megaETH team regarding their liquidity provisions and incentive commitments.

[TEMP CHECK] GHO Gas Token Framework
Vote Cast: YAE
We support this framework as it is a very exciting new utility for GHO and should bring demand. Easing gas payment with stable rewards is a very elegant solution.

AIP Votes

Collector upgrade
Vote Cast: YAE
We supported this proposal. This update will introduce more flexibility for the Finance Stewards.

GHO Base Launch
Vote Cast: YAE
We voted in favor of this launch and are very excited about GHO coming to Base. There are a lot of synergies to be explored for the stablecoin on that network and its growth will be backed by strong incentives.

Sunset stMATIC on Polygon instance
Vote Cast: YAE
We support this proposal as Lido is sunsetting its services for stMatic, it doesn’t make sense to keep supporting the asset in such a state.

Update USDS & GHO Borrow Rate
Vote Cast: YAE
We fully support this update as it will align the prime market borrow rates with the new SSR and make GHO debt a better option there.

Allow Balancer To Claim Mining Rewards
Vote Cast: YAE
We support this proposal and are very happy to see the synergies between Balancer v3 and Aave evolving.

wstETH Borrow Rate Update
Vote Cast: YAE
We voted in favor of this proposal. Given the recent market downturn and the challenging price action of EIGEN, LRT/wstETH looping strategies on Prime have struggled to remain profitable. This adjustment, by lowering borrow rates, will help restore profitability for these loops.

Aave v3 Linea Activation
Vote Cast: YAE
We voted in favour of this deployment and are very keen to see Aave grow on Linea.

February Funding Update (Part 1)
Vote Cast: YAE
We voted in favor of this proposal, as this funding update will enable the distribution of Fluid rewards on Fluid, facilitate the migration of funds from V2 to V3, and support swaps and deposits aimed at improving the DAO’s overall capital efficiency.

Decrease Slope1 Parameter for Stablecoins on Aave V3
Vote Cast: YAE
We voted in favor of this update, as broader market conditions have been trending downward. This adjustment will ensure that stablecoin debt remains competitive in response to the evolving market environment.

Request for Bounty Payout - Feb 2025
Vote Cast: YAE
We voted in favor of this proposal, as whitehat bounties are a critical component of the protocol’s security framework. It is only fair to reward those who actively contribute to making Aave safer. Congratulations to the whitehats for their valuable efforts in protecting the protocol.

a.DI Sonic path activation
Vote Cast: YAE
We voted in favor of this activation and are looking forward to see Aave grow on Sonic.

stkBPT Incentives
Vote Cast: YAE
We voted in favor of this update, as the upcoming launch of Aavenomics makes this budget essential to facilitate the transition from stkBPT to new liquidity initiatives.

Prime Instance - Restore ETH LTV
Vote Cast: YAE
We support this proposal, as the introduction of Merit rewards will effectively eliminate the risk of recursive loops, removing the need to maintain ETH’s LTV at 0%.

Upgrade Aave instances to v3.3
Vote Cast: YAE
We support this proposal, the v3.3 will bring improvements for the liquidation engine and help better tracking bad debt.

Caps Risk Oracle Activation on Arbitrum
Vote Cast: YAE
We support this proposal, as we believe this update could streamline certain processes and contribute to reducing the protocol’s risk exposure on the Arbitrum instance.

Adjust Risk Parameters for Aave V2 and V3 on Polygon
Vote Cast: YAE
We support this proposal.

Update AAVE Token LTV/Liquidation Percentages
Vote Cast: YAE
We support this proposal, as the analysis provided by risk teams highlights the strength of the AAVE token during market downturns and the good secondary liquidity. These factors make this conservative adjustment appropriate.

sUSD Risk Parameter Adjustment
Vote Cast: YAE
We are in favor if this adjustment.

Aave V3.3 Sonic Activation
Vote Cast: YAE
We voted in favor of this deployment, as Sonic has proven to be a thriving ecosystem in recent months. We are excited to see Aave expand its presence within Sonic and contribute to its continued growth.

Extend GHO Steward on Aave Prime Instance
Vote Cast: YAE
We are in favor of this update. As GHO continues to grow on the Prime instance, extending the role of GHO Stewards to this new environment will provide greater flexibility and support stronger growth in this market.

February Funding Update - Part B
Vote Cast: YAE
We are in favor of this funding update, which focuses primarily on bridging assets back to Ethereum mainnet and making deposits into Aave V3 to enhance capital efficiency. Additionally, this update will provide funding for the Merit and Ahab programs.

1 Like
23

TokenLogic March Update

During March 2025, we participated in 19 of 19 Aave Improvement Proposals (AIPs), and 23 of 24 Snapshot votes.

Snapshot Votes

[ARFC] Onboard tBTC to Aave v3 on Arbitrum
Vote Cast: YAE
We support this onboarding. tBTC is one of the most resilient BTC wrapper on chain, its expansion on Arbitrum follow the DAO’s will to make Aave the liquidity hole of all BTC DeFi.

[ARFC] Onboard rstETH to Aave V3 Prime Instance
Vote Cast: YAE
We support this onboarding. rstETH has been the biggest LRT of Symbiotic and Mellow and is greatly aligned with Lido making it a suitable LRT asset for the Prime Instance.

[ARFC] BGD.Aave ClinicSteward
Vote Cast: YAE
We support this proposal, as it is a key step before the start of Umbrella. No bad debt left behind.

[ARFC] Orbit Program Renewal - Q1 2025
Vote Cast: YAE
We support this proposal. The delegates involved in this program have played a pivotal role in advancing Aave’s development and decentralization. Collaborating with them has consistently been both productive and rewarding.

[ARFC] Recognize HyperLend as a Friendly Fork
Vote Cast: YAE
We support this proposal, as it meets all the necessary criteria for HyperLend to be officially recognized as a friendly fork.

[ARFC]. Aave <> Chainlink SVR v1. Phase 1 activation
Vote Cast: YAE
We support this proposal, as the introduction of SVR represents a critical step toward improving the DAO’s capital efficiency by enabling the partial recapture of value currently lost to MEV during liquidation events.

[TEMP CHECK] Add wstUSR to Aave v3 Core Instance
Vote Cast: YAE
We support this onboarding. Resolv has been a great partner for GHO helping to grow the GHO/USR to become the biggest pool of both ecosystem. wstUSR will be a great asset to leverage when funding rates will pick up again.

[TEMP CHECK] Add USR to Aave v3 Core Instance
Vote Cast: YAE
We support this onboarding. Resolv has been a great partner for GHO helping to grow the GHO/USR to become the biggest pool of both ecosystem.

[TEMP CHECK] Add stS to Aave v3 Sonic Instance
Vote Cast: YAE
We support this onboarding, as stS is the biggest S LST on Sonic. It will drive big demand for S borrowing for users to leverage the yield of the LST.

[TEMP CHECK] Onboard scETH, scUSD, and scBTC to Aave V3 Sonic Instance
Vote Cast: YAE
We fully support this onboarding, as Rings assets are the cornerstone of DeFi on Sonic, they are ones of the most interesting assets to farm the upcoming Sonic Airdrop.

[TEMP CHECK] GHO Aave Savings Upgrade
Vote Cast: YAE
We fully support this proposal, as sGHO and the ASR represent the next pivotal milestones in GHO’s growth trajectory. With the stkGHO program concluding alongside the Umbrella initiative, sGHO is set to become the cornerstone yield mechanism within the GHO ecosystem.

[ARFC] Enhancements in Aave v3 Gnosis Chain Instance
Vote Cast: YAE
We support this update, as it will foster the growth of the Gnosis instance allowing for more capital efficiency.

[TEMP CHECK] Deploy Aave v3 on Plasma
Vote Cast: YAE
We support this deployment, as we think Plasma will be a huge source of liquidity for USDT and stablecoin. We will be waiting for more details at the ARFC stage.

[ARFC-ADDENDUM] Aave DAO & Chainlink Smart Value Recapture (SVR)
Vote Cast: YAE
We support this proposal.

[ARFC] Risk Steward Parameter Updates Phase 3
Vote Cast: YAE
We support this onboarding, as it is expected to enhance the efficiency of risk parameter management and reduce governance overhead.

[ARFC] Aavenomics implementation: Part one
Vote Cast: YAE
We support this proposal, as it is the next big step forward regarding Aave’s economic future, every point of this proposal is exciting and TokenLogic will play an important role in delivering this important update.

[ARFC] Launch GHO on Sonic & set ACI as Emissions Manager for Rewards
Vote Cast: YAE
We support this deployment Sonic has been the most interesting chain for DeFI in Q1 and we expect it to last for the next quarter as well and want GHO to be involved in this new ecosystem.

[TEMP CHECK] Onboard lisUSD to Aave V3 BNB Instance
Vote Cast: YAE
We support this onboarding.

[ARFC] wstETH and weETH E-Modes and LT/LTV Adjustments on Ethereum, Arbitrum, Base
Vote Cast: None
We chose not to vote for this proposal due to the presence of multiple overlapping proposals on the same topic. We intend to vote on the consolidated version that brings all relevant points together for a more comprehensive assessment.

[ARFC] Aave Finance Steward Modules Deployment
Vote Cast: YAE
We support this proposal, as it is a very important step forward to enhance the safety of the financial actions taken by the DAO every month. Furthermore, it is a necessary Steward to implement the actions from the Aavenomics part 1.

[ARFC] GHO Gas Token Framework
Vote Cast: YAE
We support this framework as it is a very exciting new utility for GHO and should bring demand. Easing gas payment with stable rewards is a very elegant solution.

[ARFC] Launch GHO on Gnosis Chain
Vote Cast: YAE
We support this deployment on Gnosis chain and expect some demand on Gnosis for GHO.

[TEMP CHECK] Proposal to Rename GHO to USDA for Enhanced Clarity and Adoption
Vote Cast: NAE
We don’t support this rename as GHO has been a very strong brand in the ecosystem.

[TEMP CHECK] Aave Decentralized Acqui-Hire Framework
Vote Cast: NAE
We don’t support this proposal.

AIP Votes

Adjust Aave Polygon V3 Risk Parameters
Vote Cast: YAE
We supported this proposal.

Aave V2 Deprecation Update
Vote Cast: YAE
We voted in favor of this update as we want to see migration from Aave v2 to V3.

sUSDe and USDe Price Feed Update
Vote Cast: YAE
We support this proposal as the extensive analysis from risk providers point out that it should be the solution with the “best” tradeoffs.

wrsETH Base Onboarding
Vote Cast: YAE
We fully support this onboarding, wrsETH is one of the leading LRTs and its expansion to Base will let it access brand new liquidity and market with an optimized liquid eMode with wstETH.

Core & Base - BTC Correlated Asset Update
Vote Cast: YAE
We support this update, as it will foster the growth of BTC-correlated assets across both Mainnet and Base instances. Lombard has established itself as the leading BTC LST, and enabling its use alongside other BTC wrappers has proven to be a key driver of growth for BTC-related markets.

Add EURC to BASE Aave V3
Vote Cast: YAE
We voted in favor of this onboarding. EURC is the best stablecoin correlated to Euro, this onboarding will allow for a better accessibility to Euro liquidity on chain and reach for new Aave European users.

AUSD on V3 Avalanche
Vote Cast: YAE
We voted in favour of this onboarding as AUSD is the most interesting native stablecoin on Avalanche and it will drive more demand through the whole Instance.

GSMs Migration to stataGSM4626
Vote Cast: YAE
We voted in favor of this proposal, this is a very important update for the capital efficiency of GHO.

Recreate wrstETH eMode on Base
Vote Cast: YAE
We voted in favor of this update.

Aave V3.3 Celo Activation
Vote Cast: YAE
We voted in favor of this proposal, we are very keen to see Aave launch on Celo to get access to a completely different type of users and help the chain grow.

Clinic steward activation
Vote Cast: YAE
We support this proposal, as it is a key step before the start of Umbrella. No bad debt left behind.

Stablecoins Interest Rate Curve Update
Vote Cast: YAE
We voted in favor of this update, as market activity has significantly slowed down. Adjusting the interest rate curves for all stablecoins across Aave instances to support higher utilization in this context is a sensible and timely decision.

Gov v3 VotingMachine / VotingPortal maintenance
Vote Cast: YAE
We support this proposal, as it is a needed little update to ease the governance process.

Gov v3 VotingMachine / VotingPortal maintenance
Vote Cast: YAE
We support this proposal same as 272.

Enable SVR V1 on Aave V3 Ethereum
Vote Cast: YAE
We support this proposal, as the introduction of SVR represents a critical step toward improving the DAO’s capital efficiency by enabling the partial recapture of value currently lost to MEV during liquidation events.

Finance Steward Deployment: Pool Exposure Module
Vote Cast: YAE
We support this proposal, as it is a very important step forward to enhance the safety of the financial actions taken by the DAO every month. Furthermore, it is a necessary Steward to implement the actions from the Aavenomics part 1.

Allow Balancer DAO to Claim Liquidity Mining Rewards (Arbitrum & Base)
Vote Cast: YAE
We support this proposal and are very happy to see the synergies between Balancer v3 and Aave evolving. Enabling Balancer to claim LM rewards will allow for even more capital efficiency for LPs on Balancer v3.

Onboard rsETH to Arbitrum
Vote Cast: YAE
We fully support this onboarding, rsETH is one of the leading LRTs and its expansion to Arbitrum will let it access brand new liquidity and market with an optimized liquid eMode with wstETH.

Onboard eBTC and Add eBTC/WBTC E-Mode
Vote Cast: YAE
We voted in favor of this onboarding as it will allow for more competition on the BTC landscape on Aave. Etherfi has been a great partner eversince the first weETH deployment and the onboarding of their BTC asset marks a new important step in the collaboration between them Aave.

24

TokenLogic April Update

During April 2025, we participated in 18 of 18 Aave Improvement Proposals (AIPs), and 19 of 21 Snapshot votes.

Snapshot Votes

[TEMP CHECK] Onboard USDtb to Aave v3 Core Instance
Vote Cast: YAE
We support this onboarding. USDtb is great product and the start of the RWA onboarding onto Aave, they have grown exponentially with more than 1.4B TVL.

[ARFC] Add AAVE token to Aave V3 Base Instance
Vote Cast: YAE
We support this onboarding. Base is becoming an increasingly important instance for the Protocol and adding AAVE to it following the risk team comments seems like the natural next step.

[ARFC] Aave v3.4 candidate
Vote Cast: YAE
We support this proposal, Aave 3.4 is an important step ahead of the launch of the v4.

[ARFC] Onboard Pendle PT tokens to Aave V3 Core Instance
Vote Cast: YAE
We support this proposal. The onboarding of PT will help getting traction in any kind of market. We are very keen to see this go live.

[TEMP CHECK] Onboard eUSDe to Aave v3 Core Instance
Vote Cast: YAE
We support this proposal, ahead of the launch of PT tokens, it is important to onboard eUSDe as it will be one of the most dominant asset for PTs.

[TEMP CHECK] Onboard eUSDe PT Tokens to Aave v3 Core Instance
Vote Cast: YAE
We support this proposal, the first PT on Aave will drive significant demand and we are very keen to see this new kind of asset go live on Core Instance.

[TEMP CHECK] onboard frxUSD and sfrxUSD to Aave v3 on Sonic Instance
Vote Cast: YAE
We support this onboarding. FRAX has always been an important player in the stablecoin space and we are looking forward to see them grow on the Sonic Instance.

[ARFC] Renew LlamaRisk as Risk Service Provider - epoch 3
Vote Cast: YAE
We support this renewal. Llamarisk have been a great team to work with, the quality of their security work speaks for themselves and are very looking forward to continue working with them for this next term.

[ARFC] Add stS to Aave v3 Sonic Instance
Vote Cast: YAE
We support this onboarding, as stS is the biggest S LST on Sonic. It will drive big demand for S borrowing for users to leverage the yield of the LST.

[ARFC] stkABPT - Emissions Update
Vote Cast: YAE
As AAVE prepares to shift its primary liquidity base, reducing stkABPT emissions marks a critical first step in the transition.

[ARFC] Aave Liquidity Committee Funding Phase VI
Vote Cast: YAE
After a strong Phase V marked by steady growth for GHO, the upcoming phase is poised to elevate the protocol further, with several promising opportunities in the pipeline.

[ARFC] GHO Savings Upgrade
Vote Cast: YAE
We support this upgrade. The sGHO is set to become the most important GHO supply sink and will also bring new sustainable growth to the stablecoin.

[ARFC] LRT and wstETH Unification
Vote Cast: YAE
We support this proposal as it represents a significant update concerning ETH-correlated assets and the strategic role of the Prime instance within the broader protocol. This unification fosters greater balance, unlocks new growth opportunities, and creates valuable synergies in an increasingly competitive market.

[TEMP CHECK] Onboard tETH to Aave v3 Prime Instance
Vote Cast: YAE
We support this onboarding, tETH is very well Lido aligned and will be create decent demand and growth on the Prime Instance.

[TEMP CHECK] Horizon’s RWA Instance
Vote Cast: YAE
We support this new development and are very keen for the next chapter of RWAs on Aave.

[ARFC] Aave DAO <> BGD Labs. Phase 5
Vote Cast: MISSED
Although we missed this vote, we fully support the renewal. BGD Labs consistently delivers outstanding work, and collaborating with their team has always been a pleasure. Their past contributions have been instrumental to Aave’s growth and development, and we look forward to continuing this strong partnership in the upcoming term.

[ARFC] ACI Phase IV – “Road to 80”
Vote Cast: YAE
We strongly support this proposal. Collaborating with ACI has always been a pleasure, the quality and consistency of their work are exceptional. The results speak for themselves, particularly in terms of growth, and we’re excited to continue working with them in the upcoming term.

[ARFC] Onboard USDtb to Aave v3 Core Instance
Vote Cast: YAE
We support this onboarding. USDtb is great product and the start of the RWA onboarding onto Aave, they have grown exponentially with more than 1.4B TVL.

[TEMP CHECK] Aave and ether.fi Cash: A Proposal for Real-World Utility
Vote Cast: YAE
We support this proposal, this is an exciting parternship that will be pushing the DeFI boundaries even further.

[ARFC] Onboard eUSDe to Aave v3 Core Instance
Vote Cast: YAE
We support this proposal, ahead of the launch of PT tokens, it is important to onboard eUSDe as it will be one of the most dominant asset for PTs.

[TEMP CHECK] Deploy Aave v3 on Tron
Vote Cast: YAE
We missed this vote but we support this deployment.

AIP Votes

AAVE Buybacks allocation
Vote Cast: YAE
We supported this proposal and are very keen to see the start of this buyback program. This will bring value back to Aave holders.

Orbit Program Renewal
Vote Cast: YAE
We voted in favor of this renewal, as the main delegates funded by the Orbit program have proven to be highly engaged and collaborative participants in Aave’s governance. This initiative is a valuable step toward further decentralizing the DAO and strengthening its decision-making process.

Risk Steward Parameter Updates Phase 3
Vote Cast: YAE
We support this proposal as it will offer more flexibility to the risk stewards, enabling them to react promptly to market changes in real time.

Enhancements in Aave v3 Gnosis Chain Instance
Vote Cast: YAE
We fully support this upgrade as it will make the Gnosis instance more capital efficient and focus on the markets specific to this instance.

Request for Bounty Payout - March 2025
Vote Cast: YAE
We support this proposal, the Immunefi bug bounty is a great tool to get feedbacks and security check from the community about the protocol.

Removal of legacy VotingPortals from Governance v3
Vote Cast: YAE
We support this proposal.

Caps Risk Oracle Activation on Base, Avalanche
Vote Cast: YAE
We voted in favour of this activation and are keen to see it at work on both Base and Avalanche networks.

April Funding update
Vote Cast: YAE
We voted in favor of this proposal, this funding update focuses the consolidation of revenue on mainnet instances, on the funding of different initiatives and the future Sonic campaign.

Mantle a.DI path activation
Vote Cast: YAE
We voted in favor of this activation and are really looking forward to see the synergies between Aave and the Mantle ecosystem.

Add rlUSD to Core Instance
Vote Cast: YAE
We voted in favor of this onboarding, we are very keen to see RLUSD a new institutional grade stablecoin hit the Aave market.

Aave Liquidity Committee Funding Phase VI
Vote Cast: YAE
After a strong Phase V marked by steady growth for GHO, the upcoming phase is poised to elevate the protocol further, with several promising opportunities in the pipeline.

Renew LlamaRisk as Risk Service Provider - epoch 3
Vote Cast: YAE
We support this renewal. Llamarisk have been a great team to work with, the quality of their security work speaks for themselves and are very looking forward to continue working with them for this next term.

Lower stkABPT Emissions
Vote Cast: YAE
As AAVE prepares to shift its primary liquidity base, reducing stkABPT emissions marks a critical first step in the transition.

Onboard PT sUSDe July and PT eUSDe May on Core Instance
Vote Cast: YAE
We support this proposal and are looking forward to see the PT market grow on Aave.

Add stS to Aave v3 Sonic Instance
Vote Cast: YAE
We support this onboarding, as the main S LST, Beets and stS are set to become the biggest consumer of wS debt on Aave. This is a great prospect for utility on the Sonic Instance.

ACI Phase IV – “Road to 80”
Vote Cast: YAE
We strongly support this proposal. Collaborating with ACI has always been a pleasure, the quality and consistency of their work are exceptional. The results speak for themselves, particularly in terms of growth, and we’re excited to continue working with them in the upcoming term.

Aave BGD Phase 5
Vote Cast: YAE
We fully support the renewal. BGD Labs consistently delivers outstanding work, and collaborating with their team has always been a pleasure. Their past contributions have been instrumental to Aave’s growth and development, and we look forward to continuing this strong partnership in the upcoming term.

Onboard PT sUSDe July on Core Instance
Vote Cast: YAE
We fully support this onboarding, this PT should drive significant demand to the overall market.

1 Like
25

TokenLogic May Update

During May 2025, we participated in 18 of 18 Aave Improvement Proposals (AIPs), and 15 of 15 Snapshot votes.

Snapshot Votes

[ARFC] Aave V3 Deployment on Aptos Mainnet
Vote Cast: YAE
We support this deployment. We are keen to see the first non EVM Aave deployment coming to market soon.

[ARFC] Horizon’s RWA Instance
Vote Cast: YAE
We support this new development and are very keen for the next chapter of RWAs on Aave. These new terms are much better for the DAO.

[ARFC] Interest Rate Curve Risk Oracle
Vote Cast: YAE
We support this proposal, Chaos Labs is doing a great job with its Oracle.

[ARFC] Onboard tETH to Aave v3 Prime Instance
Vote Cast: YAE
We support this onboarding. tETH on the prime instance makes total sense because of its alignment with Lido. On this instance it will have access to deep liquidity allowing users to leverage tETH as they want.

[TEMP CHECK] Add PEPE as a Supported Asset on AAVE
Vote Cast: NAY
Meme coins are more trading vehicles than collateral. Revenue upside is expected to be limited and the perception is Meme coins will be perceived to add increase the risk profile of the market. PTs were only recently just added and we are gradually more exposure to this derivative. Now is not the best time to add a Meme coin that could be perceived as increasing the risk profile of the overall market.

[ARFC] Deploy Aave on Soneium
Vote Cast: YAE
Based upon new found alignment, we are happy to support.

[ARFC] Onboarding wETH to Aave V3 Celo Instance
Vote Cast: YAE
We support this onboarding. WETH listing will be necessary to bootstrap the borrowing activity on the Celo instance. It will also mark the start of the incentive campaign.

Title: [ARFC] Deploy 5M USDC for GHO Market Making on Gnosis Chain
Vote Cast: NAY
We don’t support this proposal yet. We think allocating this budget for GHO growth on Gnosis chain is a bit premature. There are a lot of costly initiatives at the moment such as the Base incentive campaign and the CEX growth budget. Therefore, we think it should be wiser to wait a bit for the proposal to mature given the big amount asked.

[ARFC] Base Incentive Campaign Funding
Vote Cast: YAE
We support this incentive campaign as we are the writers of this proposal. This will make Aave the leader in marketshare on Base.

[ARFC] Supply and Borrow Cap Risk Oracle Constraint Specification
Vote Cast: YAE
With the success of the Supply and Borrow cap risk oracle on Prime instance, it is natural to see Chaos Oracle come to Avalanche, Base and Arbitrum instances.

[TEMP CHECK] Aave Events & Sponsorship Budget 2025
Vote Cast: YAE
We support this proposal, it is that time of the year again. These events are great tools to help enrich the Aave brand and ecosystem.

[TEMP-CHECK] Onboard wstLINK to Aave v3 Core Instance
Vote Cast: YAE
We support this onboarding. This will make Aave the first lending platform to offer LINK LST leverage trade.

[ARFC] Aave Umbrella activation
Vote Cast: YAE
We support this proposal as it represents a significant update for Aave, making the protocol safer everyday. Umbrella introduces a new kind of risk mitigation which strengthen the whole ecosystem.

[TEMP CHECK] Adopt The SEAL Safe Harbor Agreement
Vote Cast: YAE
We support this adoption, the SEAL Whitehat Safe Harbor Agreement improves the security of the on-chain assets by allowing whitehats to intervene during active exploits to save protocol funds.

[ARFC] Aave Events & Sponsorship Budget 2025
Vote Cast: YAE
We support this proposal, it is that time of the year again. These events are great tools to help enrich the Aave brand and ecosystem.

AIP Votes

May Funding Update
Vote Cast: YAE
We supported this proposal as this funding update will allow for buybacks to continue as well as consolidation funds from the collector.

Onboard USDtb to Aave v3 Core Instance
Vote Cast: YAE
We voted in favor of this onboarding, USDtb is the latest product of Ethena and will be a great feat into Aave’s suite of stablecoin and RWAs suite on the Core instance.

Remove USDe Debt Ceiling and Introduce USDe Stablecoins E-mode
Vote Cast: YAE
We support this proposal as there is significant demand for it on the Core instance.

stkGHO Emissions
Vote Cast: YAE
We fully support this proposal which will fund the stkGHO rewards until the Umbrella update.

Extend SVR V1 to more reserves
Vote Cast: YAE
We support this proposal, extending SVR to more reserves will help the DAO get more revenue from liquidation.

Add AAVE token to Aave V3 Base Instance
Vote Cast: YAE
We support this proposal, Aave protocol is expanding in a strong fashion on the Base instance and having the AAVE token listed will help gain momentum and offer more opportunities to the holders.

LRT and wstETH Unification
Vote Cast: YAE
We voted in favour of this proposal as it will move all the ETH corralated markets in the right direction, aiming for the best efficiency while not getting any tradeoffs on security.

Soneium aDI path activation
Vote Cast: YAE
We voted in favor of this deployment, and the aDI path activation is the first necessary step for it.

Configuration maintenance
Vote Cast: YAE
We voted in favor of this proposal.

Onboard eUSDe and eUSDe based PT token to Aave V3 Core
Vote Cast: YAE
We voted in favor of this onboarding, we are very keen to see PT growth through the onboarding of eUSDe. It has seen great demand on Pendle and are looking forward to make Aave the biggest supply sink for eUSDe.

stkAAVE Emissions
Vote Cast: YAE
We support the continuation of AAVE incentive for stkAAVE ahead of the Umbrella upgrade.

Renew LlamaRisk as Risk Service Provider - epoch 3
Vote Cast: YAE
We support this renewal. Llamarisk have been a great team to work with, the quality of their security work speaks for themselves and are very looking forward to continue working with them for this next term.

CAPO Adapter Maintenance Update
Vote Cast: YAE
We support this update.

Onboarding wETH to Aave V3 Celo Instance
Vote Cast: YAE
We support this onboarding. WETH listing will be necessary to bootstrap the borrowing activity on the Celo instance. It will also mark the start of the incentive campaign.

Add FBTC to Aave v3 Main Market on Ethereum
Vote Cast: YAE
We support this onboarding, fBTC will be a great addition into the diversity of BTC wrappers available on the Core market. This should drive some demand for WBTC borrows.

Aave V3.3 Soneium Activation
Vote Cast: YAE
We support this proposal and are really keen to see Aave expand to a new exciting network.

Aave Umbrella Activation
Vote Cast: YAE
We support this proposal as it represents a significant update for Aave, making the protocol safer everyday. Umbrella introduces a new kind of risk mitigation which strenghten the whole ecosystem.

May Funding Part B
Vote Cast: YAE
We fully support this funding update.