Welcome to the Aave Weekly Update, your guide to what's happening in Aave governance. Click the button below to manage which weekly updates you receive by email.

The process put forward in the Caps Plus Risk Steward proposal, which was executed some nine days ago, is already being used by @ChaosLabs and @Gauntlet, reducing governance overhead as expected.

The Aave Chan Initiative last week introduced Orbit, “a delegate platform funding initiative that aims to professionalize the Aave DAO governance and reward top current contributors who are not currently compensated for this role.”

You’ve probably noticed that we’re well into the two-month trial of shielded voting in Snapshot, powered by Shutter.

You can now see your transaction history in the Aave app interface.

Aave Improvement Proposals

• Price Feeds Operational Update (236)

  • Summary: This proposal suggests making changes to the price feeds for various assets (wstETH on Arbitrum and Optimism, MaticX and stMatic on Polygon). The purpose of these changes is to address issues related to price volatility and synchronization and to enhance the stability of the Aave platform. The proposal includes replacing price feeds, using custom adapters based on Chainlink's feeds, and configuring the price oracle sentinel. The security and reliability of the custom price adapters have been reviewed, and historical comparisons of the new feeds show minimal differences.

  • Proposer: BGD Labs

  • Status: Executed on June 3

• DeFi Saver Aave V3 FlashBorrowers Whitelist Part II (235)

  • Summary: This proposal suggests that Aave governance consider whitelisting DeFi Saver as a part of the FlashBorrowers program in Aave V3 on the Optimism liquidity pool. DeFi Saver has a history of collaboration with the Aave Protocol, and waiving flashloan fees for DeFi Saver is expected to make certain strategies more convenient and profitable, potentially leading to increased borrow volume and revenue for the Aave DAO.

  • Proposer: Marc Zeller / Aave Chan Initiative

  • Status: Executed on May 29

On Snapshot

• [ARFC] Add RPL to Ethereum v3. Ended on June 5 with nearly 100% voting YAE.

• [ARFC] Add fUSDC to Ethereum v3. Ended on June 3 with 80.29% voting YAE.

• [ARFC] Optimism Create ETH E-Mode. Ended on June 1 with nearly 100% voting YAE.

• [TEMP CHECK] Safety Module Upgrade Part III - Enable gauges on BPT in Safety Module (smBPT). Ended on June 1 with 82.36% voting YAE.

• [TEMP CHECK] Safety Module Upgrade Part II - Asset Diversity, SM Categories & Slashing Updates. Ended on June 1 with 82.38% voting YAE.

In discussion

• [ARFC] Increase Supply Caps for LSTs on AAVE V3

• [ARFC] wMATIC Supply & Borrow Cap Increase Polygon v3 2023.06.01

• [ARFC] Pyth to Support Aave on Optimism as a Secondary Oracle

• [ARFC] Add FRAX Arbitrum Aave v3

• [ARFC] Add GUSD to Aave V3 Ethereum

• [ARFC] Add USDP to Aave V3 Ethereum

• [ARC] Add SUSHI to Aave V3 on Mainnet

• [ARFC] Gas Rebate for Recognized Delegates

• There is further discussion of Gauntlet’s recommendation of a Synchronicity Price Adapter “killswitch” for LST emode.

• Check out delegate platform updates from @lbsblockchain, @TokenLogic, @0xkeyrock.eth, and the Aave Chan Initiative.

• Llama highlights new features on their Aave dashboard, including an Aave Grants Dashboard and a Safety Module Dashboard. The team also presents a “month 8” update on their areas of focus for the DAO, which include: protocol upgrades; treasury management; analytics; and growth.

• Chaos Labs presents highlights of their activities for the DAO during the month of May.

[ARFC] Polygon v3 Supply Cap Update 2023.05.21

BUSD Offboarding Plan Part II

[ARFC] Add ARB to Arbitrum Aave v3

[TEMP CHECK] Aave V3 Deployment on Base

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