The discussion primarily revolved around the proposal by ChaosLabs to integrate ENS into the Ethereum Aave V3 Market. This move is part of the community's broader efforts to transition from V2 to V3. The proposal outlined a multi-phased plan to encourage the adoption of V3, with ENS, currently listed on V2 Ethereum with borrowing disabled, proposed to be listed on Aave V3 on Ethereum. The plan also included a cautious approach to setting borrowing caps, ensuring they account for no more than 1% of the average daily trading volume. The supply cap was determined using V2 data, and the proposal also suggested adjustments to the IR Slope1 to reflect changes in interest rates and the liquidation bonus levels to the current liquidity levels in DEXs¹.

The proposal also detailed specific parameters for ENS, including a supply cap of 1M, a borrow cap of 40,000, a debt ceiling of $3.9M, and an LTV of 39.00% among others¹. 0xkeyrock.eth voiced their support for the proposal, particularly praising the careful approach to setting borrowing caps for low market cap tokens².

The discussion concluded with ChaosLabs publishing a Snapshot for the community to vote on the proposal³. Following a successful AIP, the proposal was executed, and ENS is now available on V3 Ethereum⁴. This marks a significant step in the community's transition from V2 to V3, and the careful planning and execution of this proposal set a positive precedent for future migrations.