BGD. Aave Governance v3 - Activation plan

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The Aave community is transitioning to Governance v3 to improve automation and cross-chain functionalities, with strong support and active participation despite initial setbacks. Security enhancements and the recent activation of Governance v2.5 mark progress, while proposals for the final transition to v3 are underway, including discussions on cross-chain voting capabilities.

What is this about?

The Aave community is focused on transitioning from Aave Governance v2 to v3, which is a significant upgrade affecting all Aave systems, including voting mechanisms and cross-chain functionalities. The upgrade aims to automate the infrastructure using Aave Robot. The community has successfully activated Aave Governance v2.5, which is a step towards the final activation of Governance v3. The migration to v3 involves detailed planning and additional security measures, such as the engagement of an extra security expert and reviews by Certora and MixBytes on the voting assets (AAVE, stkAAVE, and aAAVE).

How is the community reacting?

The community's response has been very positive, with members like EzR3aL, 0xkeyrock.eth, and Zen.eth supporting the upgrade and the BUSL1.1 license. The activation of Aave Governance v2.5 was met with resilience and commitment from the community, despite setbacks such as the cancellation of the initial proposal due to an issue with stkAAVE. The community continues to be actively involved in creating and voting on proposals to advance the governance system.

Why this is positive?

  • The transition to Aave Governance v3 is expected to enhance automation and efficiency within the system.
  • There is strong community support and engagement throughout the upgrade process.
  • Security reviews by experts like Certora and MixBytes contribute to the system's security and trustworthiness.
  • The successful activation of Aave Governance v2.5 demonstrates the community's resilience and capability to overcome challenges.

Why this is negative?

We have not been able to determine whether this will be negative.

Next actions

The Bgdlabs team has completed the proposals for activating Aave Governance v3. The first on-chain governance proposal is expected to be created soon, and the community is encouraged to review and participate in the proposals to finalize the transition to Governance v3.

  • A proposal to migrate from Governance v2.5 to v3 has been introduced by ACI Skywards, with voting expected to start shortly. The community is urged to actively engage in the voting process14.
  • BTC_AD asked about the possibility of voting on chains other than Ethereum with AAVE tokens15.
  • Sakulstra clarified that the voting portals would allow voting on another chain, but highlighted that this refers to voting with mainnet voting power on another chain, not with bridged assets16.
  • BTC_AD thanked for the clarification and acknowledged that bridged assets are not equivalent to assets minted on the mainnet17.

Posted 2 months ago

Last reply 2 days ago

Summary updated 2 days ago

Last updated 08/12 04:39