BGD. Aave Governance V3

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The Aave community is discussing the proposed upgrade to Aave Governance v3, which aims to reduce voting gas costs, support further decentralization, and enable voting with aAAVE and stkABPT. While the introduction of features like Aave Voting Networks, Aave Voting Machines, and the Aave Robot are seen as positive, concerns have been raised about the complexity of multiple voting networks, potential risks of proposer-chosen voting networks, and questions about new assets' proposition power and delegation.

The community is engaged in a discussion about the proposed upgrade to Aave Governance v3, an initiative aimed at reducing voting gas costs, supporting further decentralization, and enabling voting with aAAVE and stkABPT [Bgdlabs, 17, 20]. The new system introduces Aave Voting Networks and Aave Voting Machines, which are blockchain networks and smart contracts respectively, that handle the validation and accounting of votes. The voting process uses Ethereum block hashes and storage proofs for validation, and the vote count is forwarded back to the Ethereum side of the Governance once the voting period ends1.

The community reaction is generally positive, with members expressing excitement about the cheap voting feature, the addition of more assets with voting power, and the "Aave Robot" for permissionless automation2. However, there are also concerns about the complexity of having votes take place on potentially different networks, the feasibility of Delegation with storage Proof voting considering the potential high costs of proving the delegated amount of each delegator, and potential design flaws that could affect delegation [Tuta, Dennisonbertram, 19, 21, 23, 28, 30].

The introduction of Aave Governance V3 is seen as a positive development due to the introduction of new features such as the Aave Voting Networks and Aave Voting Machines, the Aave Cross-chain Infrastructure, and the Aave Robot1. These features are expected to improve the voting process, enable bi-directional communication and multi-bridge, and automate permissionless actions around the Aave ecosystem1. The optimization of AAVE/stkAAVE is also expected to make operations cheaper gas-wise1.

On the other hand, the concerns raised by the community members highlight potential challenges and risks associated with the proposed upgrade. These include the complexity of supporting multiple voting networks, the potential risks of allowing the proposer to choose the voting network, and the safety and liveness of the system [Dennisonbertram, 4, 5, 11, 14]. There are also unanswered questions about the new assets (stkABPT and aAAVE) and whether they will hold proposition power and if they can be delegated2.

Posted 9 months ago

Last reply 5 months ago

Summary updated a month ago

Last updated 06/12 00:43