Umbrella - Renew Allowances

Simple Summary

This proposal renews the Ethereum Collector's allowances to the Umbrella RewardsController for the current reward period, ending on 2 December 2026. The proposed allowances are 500,000 aEthUSDT, 475,000 aEthUSDC and 160 aEthWETH, covering unclaimed rewards and the remaining emissions.

Motivation

Umbrella reward allowances are due for renewal. As stakers claim rewards, the RewardsController draws on the allowances granted by the Ethereum Collector. Governance periodically renews these allowances to support reward payments, most recently for aEthUSDT and aEthUSDC through AIP 507.

This renewal accounts for rewards accrued by current and former stakers, together with emissions scheduled through 2 December 2026. The Collector holds sufficient balances of the reward assets to fund these payments.

Proposed Allowances

The allowances are sized using unclaimed rewards as of 25 September 2026 and the maximum emissions for the rest of the period, rounded up. The calculation uses each market's maxEmissionPerSecond to allow for deposits growing toward Target Liquidity. Current emissions are approximately 80% of that maximum for USDT and USDC, and 84% for WETH.

Reward asset	Accrued, unclaimed	Emissions to 2 Dec 2026 (max rate)	Total required through 2 Dec 2026	New allowance
aEthUSDT	259,782	238,379	498,162	500,000
aEthUSDC	242,001	227,194	469,196	475,000
aEthWETH	67.26	87.53	154.79	160

These amounts replace the remaining allowances; they are not additional amounts.

GHO emissions ended with AIP 507. The existing allowance of 52,730 GHO covers the 22,663 GHO still claimable and remains unchanged.

A separate proposal will renew rewards ahead of 2 December 2026. That renewal will also account for any rewards still unclaimed at the time.

Specification

The AIP will call approve on the Aave Ethereum Collector (0x464C71f6c2F760DdA6093dCB91C24c39e5d6e18c) to set the following allowances for the Umbrella RewardsController (0x4655Ce3D625a63d30bA704087E52B4C31E38188B):

Reward asset	Address	Current allowance	New allowance
aEthUSDT	0x23878914EFE38d27C4D67Ab83ed1b93A74D4086a	173,981	500,000
aEthUSDC	0x98C23E9d8f34FEFb1B7BD6a91B7FF122F4e16F5c	281,241	475,000
aEthWETH	0x4d5F47FA6A74757f35C14fD3a6Ef8E3C9BC514E8	60.07	160

Current allowances are shown as of 25 September 2026 and decrease with each claim. Emission rates, Target Liquidity, the 2 December 2026 distributionEnd, cooldown parameters, Deficit Offsets and the stkGHO.v1 allowance remain unchanged.

This proposal follows the Direct-to-AIP precedent of AIP 417, Renewal of Umbrella Reward Allowances.

References

• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot: Direct-to-AIP
• Discussion

Copyright

Copyright and related rights waived via CC0.