Aave proposal would let Sentora run first externally curated V4 hub on Ethereum

A new model for Aave V4 deployment

The proposal describes Hub and Spoke instances deployed under this structure as externally curated instances. In practice, that means Sentora would independently manage the markets under its hub, with authority over collateral selection and the operating parameters that shape how those markets function.

The first authorization sought under the framework is for Ethereum. The text also makes clear that additional instances could follow later if the framework is accepted and the DAO chooses to approve more deployments.

What sits inside and outside DAO review

A central point in the proposal is that external curation would sit outside Aave’s standard risk framework and outside LlamaRisk’s normal review process. Even so, DAO approval would still matter at the authorization stage, meaning the governance process would not disappear but would apply differently than it does for standard Aave markets.

That distinction is important because the curator’s mandate would cover several areas usually treated as core risk and market design decisions: collateral selection, risk parameters, interest rate curves and oracle configuration across the relevant markets. The proposal therefore focuses not only on one Ethereum launch, but on the operating boundaries between curator discretion and DAO authority.

Suggested guardrails for future curated hubs

Alongside the authorization request, the discussion includes recommendations for standard terms that could be used if Aave allows more externally curated hubs in the future. One suggestion is to require a named reviewer, funded from the curator’s revenue share, to assess listings and monitor ongoing risk.

Other proposed guardrails include setting default parameters while allowing curated deviations when they are accompanied by a rationale, as well as requiring regular reporting and a review schedule based on predefined KPIs. The discussion also calls for clear wind-down triggers so depositors have a predictable path out if a curated hub needs to be closed or scaled back.

Open questions on revenue, overlap and market impact

The forum discussion also touches on how these terms could affect revenue distribution, the protocol’s risk exposure and possible overlap with other Aave hubs. Those issues matter because a curator-led model could create markets that are operationally distinct from Aave’s standard framework while still relying on DAO authorization.

Another unresolved question is whether the initial supplies expected in the Sentora-managed instance would represent net new deposits or whether part of that liquidity would migrate from existing venues. That point could influence how delegates assess the practical impact of the proposal as they consider whether to formalize a broader framework for externally curated hubs on Aave V4.

Next step in the governance process

For now, the proposal is at the ARFC stage, where delegates discuss the structure, oversight expectations and the first Ethereum deployment before any further governance action. The immediate decision is not only whether Sentora should run the first externally curated hub, but also what baseline requirements should apply if Aave later expands the model to additional instances.