Following the community discussion opened on the Aave governance forum https://governance.aave.com/t/bgd-aave-v3-ethereum-new-deployment-vs-aave-v2-upgrade/9990, the goal of this vote is for the Aave community to decide a path forward in what regards doing a "clean" deployment of Aave v3 in Ethereum versus upgrading the Aave v2 Ethereum smart contracts to a v3 version. It is really recommended to review the analysis on the forum before emitting a vote.
In practice, this vote will authorize BGD Labs to proceed with the chosen option (if any), engineering-wise, as part of the working scope with the Aave community.
The options are: