101-reenable-eth-borrow-aave-v2-ethereum.md

Proposal 101. Re-enable ETH Borrowing on Aave v2 Ethereum

Voting link

https://app.aave.com/governance/proposal/?proposalId=101

Governance forum discussion

https://governance.aave.com/t/arc-re-enabling-eth-borrowing-post-merge/9657

BGD analysis

Proposal types

🔧 📊 params-update

🔨 🧊 reenable-borrow

Context

This proposal re-enables ETH borrowing (via WETH) on Aave v2 Ethereum, previously halted by proposal 97 as cautionary measure pre-Merge.

Proposal creation

Transaction: https://etherscan.io/tx/0xa5df5a5c8d3c3deba566d32c92592b127dec423ef645833568010a6cc67639bf

- id: 101
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x311bb771e4f8952e6da169b425e7e92d6ac45756]
- values: [0]
- signatures: []
- calldatas: [0xeede87c1000000000000000000000000c02aaa39b223fe8d0a0e5c4f27ead9083c756cc20000000000000000000000000000000000000000000000000000000000000001]
- withDelegatecalls: [false]
- startBlock: 15529036
- endBlock: 15548236
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x1ad639a0fe12d46fdce998b69b9f9d9d13108baf13d35fea601f1017c3723364

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/101.md

Technical analysis

We have verified, that this proposal, as described on Snapshot and the Aave governance forum, does the following:

1. Call enableBorrowingOnReserve() for WETH on the pool configurator of Aave v2 Ethereum.

As we have commented on the Aave governance forum, in terms of timing, we don't see any problem, as the Ethereum should have happened once this proposal (if passing) will be ready for execution.

BGD validations

✅ The code on the proposal payload corresponds to the proposal specification.

✅ Payload encoded via multiple targets and calldatas, no delegatecall

❓ The proposal includes a proper tests suite, checking all necessary post-conditions.

✅ BGD reviewed the payload before the proposal was submitted.

❌ BGD reviewed the procedure followed to submit the proposal.