Aave said new asset listings for Aave Horizon will now be handled through the protocol’s standard DAO governance process, ending the delegated model used since the market launched.

The change takes effect immediately and means every proposed Horizon onboarding must pass through Governance Framework v2’s Asset Listing ARFC route, including published business and risk materials, a technical review, and a binding Snapshot vote.

Delegated launch model comes to an end

Since launch, Aave Horizon had operated under a delegated structure in which Aave Labs held the executive role for asset listing decisions. LlamaRisk supported that setup by providing input on risk parameters, oracle configuration, and caps.

Aave said that approach was intended to let the market move at a speed suited to institutional partners while Horizon established itself. With Governance Framework v2 now in place, the project said asset onboarding for Horizon is being brought into line with the DAO’s broader governance standards.

All new proposals must go through the ARFC process

Under the updated process, every new asset proposed for Aave Horizon must go through the Asset Listing ARFC flow set out in Governance Framework v2. That includes a published business case, a risk assessment from LlamaRisk, and a technical assessment from Aave Labs during the ARFC discussion period.

After that review stage, the proposal must face a binding Snapshot vote. The shift means new listings are no longer approved through the launch-era delegated pathway and instead require formal governance approval through the DAO process.

DAO takes direct control over Horizon collateral decisions

Aave said the revised framework gives Aave DAO direct authority over deciding which assets can enter Aave Horizon’s collateral set. The update applies effective immediately.

If a proposal passes the required vote, Aave Labs will implement the listing, supported by risk analysis from LlamaRisk. The announcement does not describe any separate exception process for future onboardings.

Next phase tied to Horizon’s market expansion

The governance change comes as Aave positions Horizon for expansion beyond tokenized Treasuries into additional categories of real-world assets. The announcement presents the new onboarding route as the structure that will govern those future additions.

The next confirmed step for any new Horizon asset is therefore a standard ARFC submission under Governance Framework v2, followed by the required assessments and a binding Snapshot vote before implementation can occur.

Source: governance.aave.com