The proposal by Aave to reduce the risk exposure of V2 to CRV will be executed on-chain.

According to a governance page on BlockBeats news on July 2nd, Aave's proposal to "lower the liquidation threshold (LT) and loan-to-value (LTV) for CRV on Aave V2 Ethereum" has passed the on-chain vote and will be executed on-chain within one day. The proposal aims to reduce Aave's CRV risk exposure on V2 Ethereum and suggests a series of incremental reductions to achieve the desired settings in accordance with the risk mitigation framework previously approved by the community, reducing up to 3% in any given AIP.