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Proposal overview

Authorize the Guardian to hold the emergency keys for V2

Executed

Executed on 

Nov 24, 2021

Abstract

This Aave Improvement Proposal (AIP) is to authorize the Guardian to hold the emergency keys for V2 of the Aave Protocol, just as the Guardian holds the keys for new deployments of the Aave Protocol. These keys will allow the Guardian to pause the protocol in case of an unforeseen event, such as an exploit or other emergency.

The Guardian – a community multisig comprised of elected, reputable members of the Aave community – was established to protect the Aave Protocol in a number of ways, including against potential governance takeovers by centralized actors. Recently, the Aave community voted in favor of the Guardian holding the admin keys for new deployments of the Aave Protocol on different networks such as Avalanche.

Consistent with its purpose to protect the Aave Protocol, the Guardian should hold the emergency keys for all deployments of the Aave Protocol in order to ensure security and safety for the Aave ecosystem. This will allow a more rapid response in the event of an exploit or emergency. As you know, the Guardians were a community-elected set of DeFi participants, builders, and capital allocators (see here for more info). These individuals are active contributors in the space, and are prepared to act at a moment’s notice to help the community and ecosystem mitigate risk.

Although Aave Governance makes all decisions regarding the Aave Protocol, the need to act quickly in the case of an unanticipated event points to having the Guardian – a smaller DAO / multisig of ten – hold the emergency keys in order to be able protect the Aave Protocol and its users.

To protect the Aave Protocol from malicious actors, this AIP sets forth a proposal to authorize the Community Guardian to hold the emergency keys for all deployments of the Aave Protocol.

Motivation

Specification

Rationale

Test Cases

Implementation

Proposal

Copyright

Copyright and related rights waived via CC0.

Your voting info

Voting results

YAE

713,963

AAVE

100.00%

NAY

0

AAVE

0%

Top 10 addresses

Votes

State
Executed

Executed on 

Nov 24, 2021
Quorum
Reached
Current votes

Required

713.96K

320.00K

Differential
Reached
Current differential

Required

713.96K

80,000.00

Total voting power

16,000,000

Proposal details

Created

Block

19 Nov 2021, 14:14 UTC +00:00

13646015

Started

Block

19 Nov 2021, 14:14 UTC +00:00

13646015

Ended

Block

22 Nov 2021, 14:14 UTC +00:00

13665215

Executed

24 Nov 2021, 12:23 UTC +00:00

Author

Imran Khan