Aave News #96

ETH Tokyo Hackathon 🇯🇵 | Llama 6-month Update 🦙 | 1delta on Testnet 📈 | AGD Update 👻 | Aave Forest 🌲 | Governance Updates ⚖️

Apr 25, 2023

Thanks to ETH Global, all the hackers, everyone who came by the Aave booth, and especially all 20 teams who built on top of Aave and GHO. Aave Grants awarded three hackathon projects prizes:
🥇 DeFi Struct
A generalized 4626 vault for structured products providing clear risk & reward information, offering greater insights for users, and holding individuals who promote or develop DeFi strategies more socially accountable.
🥈 MAID - Multi Access Incentive Distribution
A coupon factory that allows protocols to rewards users with custom ERC3525 coupons (Semi-Fungible Tokens) based on custom requirements and conditions such as being an OG GHO holder.
🥉 BorrowFi
An aggregator that lets users easily borrow at the best rates possible by introducing a new standard to normalize borrowing and repaying calls while searching across different protocols.
Next up, we'll be at ETHGlobal Lisbon with more hackathon prizes, 🔥 Aave merch and a rAAVE to top it all off. Let us know if you have received a grant from AGD and are planning on attending!

Llama 6-month Update 🦙

Llama shared their 6-month update in the governance forum recapping all of the proposals and AIPs they have been involved with. You can also listen to a summary from the team. Some of their recent work includes sharing Q1 Financial Statements (which shows the DAO reaching a positive cashflow position 🤯) and a 6-part proposal to gauge sentiment on updating different parts of the Safety Module.

1delta on Testnet 📈

1delta has launched the testnet version of their margin trading integration with Aave V3 pools. Explore the app (make sure you are on Polygon Mumbai!) including the collateral and debt swap features. Share any feedback with the team - they would love to know what you think!

AGD Update 👻

Migi shared an update from Aave Grants including recent grantees (look out for a full announcement later this week 👀), a proposal to allocate the 300k OP AGD received as part of OP Stimpack phase 0, and an events summary. Included is also a breakdown of the total number of applications received and total funds dispersed since AGD’s inception in May 2021.

Aave Forest 🌲

bgdlabs shared a new proposal to enhance the security of the Aave Protocol with a monitoring and prevention framework to protect against potential exploits which they are dubbing the Aave Forest. The proposal introduces the concept of Owls, Rangers and Aave v3. Read the full proposal and join the discussion!

Governance Updates ⚖️

Follow the latest governance updates from Boardroom

The proposal to upgrade the Aave Safety Module to version 1.5 will go up soon, per @bgdlabs. This one will be a Level 2 Executor, meaning it will have the highest quorum requirement (+1m AAVE) — so get ready to participate.

Proposals

Aave Improvement Proposals (AIPs):

Risk Parameter Updates Aave V3 Optimism (206). Succeeded with 100% voting YAE and was executed on April 22.
Supply/Borrow Cap Updates V3 Arbitrum (205). Failed to reach quorum on April 21 with over 53% voting NAY.
Update AAVE V3 ETH Risk Parameters (204). Succeeded with 100% voting YAE and was executed on April 22.
Aave v2/v3 Collectors unification (203). Succeeded with 100% voting YAE and was executed on April 21.
ACI Service Provider Proposal (202). Succeeded with 100% voting YAE and was executed on April 18.
Add LDO to Ethereum Aave v3 (201). Succeeded with 100% voting YAE and was executed on April 17.

On Snapshot:

[ARFC] Deprecate Aave V2 AMM Market. Voting ends on April 28.
[ARFC] Add MAI to Optimism Aave V3 Pool. Voting ended on April 23 with nearly 100% voting YAE.
[ARFC] Add MAI to Arbitrum Aave V3 Pool. Voting ended on April 23 with nearly 100% voting YAE.
[TEMP CHECK] - Community Preference for Supply Cap Limits for LSTs. Voting ended on April 24 with 52.41% voting for Option 2 and 47.57% voting for Option 1.
[TEMP CHECK] - Whitelist Stargate for V3 Portals. Voting ended on April 18 with nearly 100% voting YAE.
Risk Rewards Phase 1: CapsRewardsSteward. Voting ended on April 17 with nearly 100% voting for “Yes 100% max increase per five days.”

Active Aave Requests for Comment (ARFC):

[ARFC] stMATIC SupplyCap Increase Polygon v3
[ARFC] Aave V2 Interest Rate Curve Recommendations from Gauntlet (2023-04-21)
[ARFC] Chaos Labs Supply and Borrow Cap Updates - 04.21.2032
[ARFC] Polygon v2 - Parameter Update
[ARFC] Polygon v3 BAL Supply & Borrow Cap Increase
[ARFC] Modify Snapshot Proposal Threshold
[ARFC] Private Voting for Aave Governance [2-month Trial]
[ARFC] wMATIC Risk Parameter Update Polygon v3
[ARFC] Gauntlet E-Mode Methodology: Aave V3 Liquide Staking Tokens
[ARFC] - Chaos Labs Risk Parameter Updates - Aave V3 Polygon - 2023.04.23
[ARFC] Migrate & Consolidate Polygon Treasury
[ARFC] Add rETH to Aave V3 Arbitrum Liquidity Pool
[ARFC] Increase Supply Cap for wstETH Aave V3 Arbitrum
[ARFC] Add LUSD to Aave v3 on Arbitrum

Active TEMP CHECKS:

[TEMP CHECK] Safety Module Update Part I - Migrate AAVE/wETH Balancer v1 Pool to Balancer v2
[TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates
[TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT)
[TEMP CHECK] Safety Module Upgrade Part IV - Incentives Management Upgrade
[TEMP CHECK] Safety Module Upgrade Part V - veToken Holding Management Framework
[TEMP CHECK] Safety Module Upgrade Part VI - Future considerations
[TEMP CHECK] Gas Fee Rebate for On-Chain Votes
[TEMP CHECK] Allocation of 300k OP Received by Aave Grants DAO
[TEMP CHECK] Aave x Messari Protocol Services

In the Forums

@ChaosLabs provides LSD methodology update
Aave Grants DAO delegates to @Llamaxyx proposal power
Gauntlet’s recommendations for EURS on V3 Polygon, soon to go to AIP
@0xmigi presents the March updates for the Aave Grants DAO
Some updates on launching Aave V3 on Metis
Delegate platform updates from @WintermuteGovernance, @lbsblockchain, @TokenLogic, @HKUST_EPI_BLOCKCHAIN, and Flipside.
Llama presents their Q1 2023 financial report for Aave

What do you think of the new format? Let us know!

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