Aave announces the start of voting on the Aave ethereum V3 governance proposal, in which the community seeks to activate Aave V3 in the ethereum pool.
aave ethereum v3
He governance proposal Incorporating Aave V3 into the ethereum pool is among the configurations pre-approved by the community. The proposal received an overwhelming majority of votes on October 11, 2022.
Aave ethereum v3 addresses are available in the aave address book. According to Aave’s announcement, the vote is in line with the addition of Aave V3 to the Ethereum pool.
the long wait
The release of Aave V3 immediately saw its uptake on other networks, except the ethereum pool, which was already running V2.
Speculations were that V2 on ethereum would undergo an update, but the community decided to implement v3. The decision was made after considering the advantages that come with the V3. Aave V3 comes with higher levels of compatibility and reduces the complexities experienced in V2.
All assets in configuration on the Aave V3 activated in the ethereum pool are in the governance forum. They are decided in the snapshot.
Operations detailed in the proposal
According to the proposal, the community wants Aave V3 to develop an eMode category of all correlated assets on the Ethereum chain. Operations will approve Aave Guardian as the emergency manager.
Finally, the embedding will activate the POOL_ADMIN permissions to access the asset listings created in the constructor.
V3 Listing Administrators need to be included in operations to handle specific assets. Each admin will address a specific asset and then relinquish the POOL_ADMIN role for cohesion. The proposal aims to limit spending on gas.
voting time
Voting on the proposal officially began on January 23, 2023 at 13:41 and will officially close on January 26, 2023 at 05:41 UTC +3.
Validation of the proposal
The Aave community tested the proposal through a simulation to verify the validity and correctness of the pool configuration. Additionally, the proposal has undergone fork testing, and the proposal’s code has been reviewed.
Aave is fully decentralized, and the commonThe city has a say in all its operations. It is the prerogative of the community to propose, vote and ratify any improvements in all protocols. The token-holders have the power to determine the operations of Aave.
The polling on Aave V3 comes after the completion of the Uniswap v3 “Temperature Check” for 0xPlasma Labs. The Uniswap v3 proposal was approved after an overwhelming majority voted “Yes” for joining the BNB Chain. Uniswap v3 is now proceeding to completion.
