What is this about?

Chaos Labs has proposed to renew their engagement with the Aave DAO, offering a comprehensive suite of risk management products and services for Aave V2, V3, and GHO across all deployments. Their current annual engagement is nearing its end, and they are seeking a 12-month extension. Chaos Labs has been an active participant in the Aave community since November 2022, contributing to over 60 ARFCs, supporting nearly 100 proposals, and providing risk parameter recommendations during significant market events. They have developed tools and platforms for risk monitoring and have been involved in the migration from V2 to V3, among other contributions. The proposal includes a $1.6M fee for their services, payable in GHO or a mix of stablecoins and AAVE tokens.

How is the community reacting?

The community reaction appears to be positive, with members like EzR3aL, Hazbobo, and Lbsblockchain expressing support for the renewal of Chaos Labs' engagement, praising their past performance and professionalism. Jengajojo has suggested providing a comparative analysis to quantify Chaos Labs' impact on Aave's performance. Chaos Labs has acknowledged the community's feedback and support and has announced the publication of a Snapshot vote, with AIP-360 published for voting to commence shortly.

Why this is positive?

• Chaos Labs has a track record of initiating ARFCs and supporting proposals that contribute to Aave's risk management.
• The development of tools such as the Chaos Labs Asset Listing Portal and GHO Risk Monitoring Dashboard aids in the onboarding of new assets and provides valuable risk monitoring capabilities.
• Their integrative approach with dynamic risk parameter recommendations aims to protect user funds and ensure protocol robustness.
• Chaos Labs' involvement in significant market events and their recommendations have been valuable during times of market volatility.
• The community has shown support for Chaos Labs' continued engagement, indicating trust in their services.

Why this is negative?

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

Next actions

• A Snapshot vote for the community has been published and will start in 24 hours.
• Following the successful Snapshot, AIP-360 has been published with voting to commence in less than 24 hours.