[Temperature Check] – Deprecate Aave v1

Summary

This Temperature Check represents the intention of the Idle DAO to proceed to deprecate Aave V1. The initiative consists of 9 actions, 6 used for Best-Yield pools and 3 for Risk-Adjusted ones.

Motivation

Idle plans to complete the migration from Aave V1 to V2, and dismiss the old version of that lending protocol. With no Idle funds currently allocated into V1 , this is a favorable timing to finalize the proposal.

Read the extensive motivations and quantitative rationale here.

Details

To complete the migration, the Governance has to execute the following actions:

• Remove Aave V1 wrapper from idleDAI, idleUSDC, idleUSDT, idleSUSD, idleTUSD, idleWBTC Best-Yield pools (6 actions);
• Remove Aave V1 wrapper from idleDAI, idleUSDC, idleUSDT, RIsk-Adjusted pools (3 actions).

Due to the number of required actions (9), the proposal can be fully executed through one on-chain IIP.

Voting Options

Please cast your vote on one of the following options: FOR: Approve Aave v1 removal on 9 strategies AGAINST: Do nothing