169-aave-v3-arbitrum-update-wstETH-supply-cap.md

Proposal 169. Aave v3 Arbitrum - update wstETH supply cap

Voting link

https://app.aave.com/governance/proposal/?proposalId=169

Governance forum discussion

https://governance.aave.com/t/arfc-increase-supply-cap-for-wsteth-aave-arbitrum-v3/12163

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal increases the supply cap of wstETH on Aave v3 Arbitrum.

Proposal creation

Transaction: https://etherscan.io/tx/0x517e9267cb2f09b954b2feafdbb1a5a6c7196e8d669be21faa86607f87b2294f

- id: 169
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x2e2b1f112c4d79a9d22464f0d345de9b792705f1]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000cdb9ea7f9443fa9e8ba6ebc9ef41c3ed75939663]
- withDelegatecalls: [true]
- startBlock: 16775470
- endBlock: 16794670
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x88483d979386f2743b5801e8875b6157d4ff776ca89e45173a5da22229b816a4

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/169.md

Arbitrum

Aave Seatbelt doesn't support Arbitrum yet.

Technical analysis

The proposal payload simply interacts with the PoolConfigurator of Aave v3 Arbitrum to update the supply cap of wstETH from 1'200 wstETH to 2'400 wstETH by calling the setSupplyCap() function.

The proposal uses correctly the Aave cross-chain governance system to communicate with Arbitrum.

BGD validations

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

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

✅ BGD reviewed the payload before the proposal was submitted.

✅ Only one payload used via delegatecall

✅ BGD reviewed the procedure followed to submit the proposal.