After months of observation, I want to point out that Chaos Labs provides an extremely poor service to Venus compared to other protocols. Despite paying them half a million dollars each year, they hardly do anything unless the community points it out to them.
For example: here is Chaoslabs account on AAVE’s forum
In this image, you can see that Floki’s borrow cap has been reached due to the current airdrop for Floki holders. However, Chaos Labs has not bothered to run a quick five-minute analysis to increase the cap. I even tried to ping them on the forum a few days ago, but they were nowhere to be found. Another example of their poor service is the TWT pool. They recommended very poor configurations that scare away lenders and do not help us build the initial liquidity for the TWT launch pool.
I urge the Chaos Labs team to provide the Venus community with proper service. If they continue to neglect their responsibilities, the DAO should consider terminating the contract with Chaos Labs and seek an alternative. Enough is enough!
Chaos Labs’ lack of engagement with Venus is glaring and unacceptable, especially considering the half a million dollars we pay them annually. Compared to their activity on Aave’s forums—where they are proactive and consistent—the disparity is astonishing. Why does Chaos Labs prioritize other protocols over Venus, despite receiving equal payment? The recent issues with Floki and TWT pools are clear examples of neglect, leaving the Venus community to shoulder responsibilities they should address. If this continues, Venus DAO should seriously consider terminating their contract and seeking a partner who respects our investment and delivers the service we deserve.
Thank you for your feedback and for sharing your concerns. We greatly value the Venus community and the engagement it fosters, and we want to take this opportunity to clarify the scope of Chaos Labs’ work and our commitment to supporting Venus Protocol.
First and foremost, we want to emphasize that Chaos Labs is fully committed to providing the highest standard of risk management services to Venus Protocol, just as we do with Aave and other protocols. Our goal is always to ensure that Venus operates safely, efficiently, and in the best interest of the community.
It’s important to note that the frequency of risk events requiring attention on Aave is currently much higher than on Venus. This naturally leads to more posts on Aave’s forum. However, this does not mean that we don’t provide Venus with the best service. We consistently provide all necessary recommendations and analyses to meet Venus’ needs.
Additionally, the rate of risk parameter recommendations is not uniform—it depends on the needs and events of the moment. For example, this week alone, we will be posting six recommendation posts specifically for Venus:
These posts address key updates and ensure that the protocol remains optimized and secure.
We’d also like to clarify that the number of posts is not a direct indicator of the effort or resources allocated to a protocol. For instance, a post like “Deploy Venus on Base” encompasses multiple parameters and asset recommendations in a single post, whereas something like “Increase sUSDe Supply Cap on Aave V3” is a recommendation for just one asset. The complexity and scope of the work behind each post differ significantly.
Regarding your specific point about FLOKI, the borrow cap was indeed reached yesterday, and we have published our recommendation today. This is in line with the same SLA we currently provide to Aave. Moreover, with the upcoming transition to Risk Oracles, Venus will benefit from real-time risk management with automated parameter updates, ensuring even faster response times in the future. This advancement will ensure that key risk metrics and parameters are continuously monitored and adjusted in response to market dynamics, significantly enhancing the protocol’s ability to adapt swiftly to emerging risks or opportunities. By automating processes that currently require manual intervention, Risk Oracles will provide faster, more efficient responses to events, reducing potential delays and improving the overall security and robustness of the protocol. This innovation represents a significant step forward in risk management for Venus, aligning with our commitment to delivering the highest standard of service.
We are deeply committed to the Venus community and are continuously working to provide robust and proactive risk management. We appreciate your patience as we address your concerns and encourage ongoing dialogue to ensure we’re meeting the community’s expectations.
If what will happen can be predicted in advance, can Chaos Labs increase the Borrow cap first? Or do we have to wait until the Borrow cap reached, then adjusting the new parameters?
Idk man, 22h read time vs 12d read time, 4 likes given vs 214 likes given, it’s like a parent saying “I don’t have a favorite” the data makes it pretty clear that whoever is taking care of Venus is not really giving it as much love as it should.
Btw whoever is reading this from Gauntlet twitter let them know that Gauntlet was fired by the Venus community for their poor service and I would choose chaoslabs over them on any day of the week.
