Staked Aave Project Update

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Biggest Stories of 2025

• Babylon Labs and Aave Labs partnership announced to bring native Bitcoin-backed lending to Aave V4, enabling Bitcoin holders to use their holdings as collateral in the Aave ecosystem (December 3, 2025) 4.
• Aave positioned as infrastructure for scaling stablecoins, with the stablecoin market surpassing $300 billion and Aave commanding over 80% of USDT and USDC liquidity in Ethereum DeFi lending markets (December 1, 2025) 3.
• Aave v3.X vision published, outlining the relationship between v3.X and the upcoming v4 release, emphasizing that the two are independent systems and that any transition should occur organically rather than being forced (August 29, 2025) 5.
• Aave v3.5 upgrade executed and went live, focused on mathematical improvements to the accounting layer, including directional rounding, improved scaled accounting, and enhanced flags handling (August 7, 2025) 6.
• Aave DAO approved the v3.5 upgrade proposal, modifying the Pool, AToken, and VariableDebtToken contracts across all supported networks, with 96,050 USDT transferred to BGD Labs for audit costs (August 6, 2025) 7.
• July 2025 Funding Update approved, authorizing bridging of remaining assets to Ethereum, swapping certain stablecoins, extending the EURe incentive campaign, and allocating 2 million aEthUSDT and 2 million aEthUSDC for six weeks of AAVE buybacks (August 2, 2025) 8.
• Aave v3.5 AIP shared by BGD Labs, splitting the math precision component from the original v3.4 upgrade to reduce complexity (July 21, 2025) 9.
• Aave v3.4 upgrade executed and went live, introducing multicall support, the Aave Position Manager role, and migration of custom GHO to a standard a/v Token (July 3, 2025) 10.
• Onchain voting for the v3.4 upgrade passed, with the proposal scheduled for execution (July 2, 2025) 11.
• Aave Events & Sponsorship Budget 2025 approved, allocating a one-off budget of $750,000 in GHO for events and sponsorships including DeFi Summer Day at EthCC Cannes and Devconnect, two editions of rAAVE, and branded merchandise (June 24, 2025) 12.
• BGD Labs disclosed the split of the v3.4 upgrade into v3.4 and v3.5, moving the math precision component and logic library improvements to v3.5 with separate audit cycles (June 12, 2025) 13.
• Aave BGD Phase 5 engagement approved, continuing BGD Labs as development and security coordinator for six months with a budget of $2.3 million in stablecoins and 4,000 AAVE (May 4, 2025) 14.
• Voting on the v3.4 upgrade passed with 100% of votes in favor (April 7, 2025) 15.
• Snapshot voting started on the v3.4 upgrade ARFC, proposing to upgrade all Aave v3 instances (April 2, 2025) 16.
• BGD Labs published an ARFC proposing the v3.4 upgrade, introducing multicall support, the Position Manager role, and removal of the native GHO discount model in preparation for the anti-GHO mechanism (March 26, 2025) 17.
• Voting started on recognizing HyperLend as a friendly fork of Aave on Hyperliquid's HyperEVM, with HyperLend to share 10% of revenue with the Aave DAO and distribute 1% of HPL supply to stkAAVE holders (March 11, 2025) 18.
• Voting started on establishing HyperLend as a friendly fork, with terms including revenue sharing and token distribution to the Aave DAO and stkAAVE holders (February 14, 2025) 19.
• GHO Steward extension on the Aave Prime Instance passed with 100% of votes in favor (January 20, 2025) 20.