AAVE

    Proposal overview

    Governance V3 Activation

    Canceled

    Canceled on 

    Oct 23, 2023

    Simple Summary

    Proposal for the migration of the Aave Governance v2 to v3, transferring all permissions from the v2 system to v3, executing all required smart contracts upgrades and different miscellaneous preparations.

    Additionally, the a.DI (Aave Delivery Network) and Aave Robot systems are activated, being requirements for the optimal functioning of Governance v3.

    Motivation

    v3 is a the next iteration for the Aave governance smart contracts systems, controlling in a fully decentralized manner the whole Aave ecosystem.

    Being a replacement on the currently running v2, a set of two proposals on v2 need to be passed to migrate one system to another: once both are passed and executed on the current governance smart contracts, these will stop working, and the new v3 ones will start operating.

    Specification

    A full specification can be found HERE, but as summary:

    • 2 governance proposals need to be created: one running on the Level 1 Executor (Short Executor) and another on the Level 2 Executor (Long Executor).
    • As both proposals need to be atomically executed, a Mediator contract will temporary receive certain permissions, in order to sync both Level 1 and Level 2.
    • High-level, the proposals do the following:
      • Migrate all permissions of the Aave ecosystem smart contracts from the v2 Executors to v3 Executors.
      • Migrate the ownership of the v2 Executors to the v3 Executors, in order to avoid any possible permissions lock.
      • Upgrade the implementations of the Governance v3 voting assets (AAVE, stkAAVE and aAAVE), to make them compatible with the new system.
      • Fund a.DI.
      • Fund Aave Robot.
      • Fund the Aave Gelato gas tank.

    References

    Copyright

    Copyright and related rights waived via CC0.

    Your voting info

    Voting results

    YAE

    482,645

    AAVE

    100.00%

    NAY

    2

    AAVE

    <0.01%

    Top 10 addresses

    Votes

    State
    Canceled

    Canceled on 

    Oct 23, 2023
    Quorum
    Not reached
    Current votes

    Required

    482.64K

    1.04M

    Differential
    Not reached
    Current differential

    Required

    482.64K

    1.04M

    Total voting power

    16,000,000

    Proposal details

    Created

    Block

    13 Oct 2023, 11:33 UTC +00:00

    18341200

    Started

    Block

    14 Oct 2023, 11:43 UTC +00:00

    18348400

    Ended

    Block

    23 Oct 2023, 09:03 UTC +00:00

    18412400

    Author

    BGD Labs @bgdlabs

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