216-aave-v3-polygon-params-update.md

Proposal 216. Aave v3 Polygon - risk parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=216

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-aave-v3-polygon-2023-04-23/12828/2

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates multiple risk parameters on Aave v3 Polygon.

Proposal creation

Transaction: https://etherscan.io/tx/0xb9ba0f685061e33747cd8f62b0edb5c2399883f9f3c0efc92e6e5a754c9f1f52

- id: 216
- creator: 0xbc540e0729b732fb14afa240aa5a047ae9ba7df0
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000c53586aa2626094bd33c123794e34417ea877a36]
- withDelegatecalls: [true]
- startBlock: 17193612
- endBlock: 17212812
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x0534109ab793da6816093b041e5f1685ed1f2523ad69c7e734a85a5bcf22895b

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/b83e74938fced0f827b0238dfeb15659bd5d04da/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/216.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/b83e74938fced0f827b0238dfeb15659bd5d04da/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/216_fx_1683558613_0.md

Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Polygon.

The proposal payload on Polygon does the following:

WBTC

• LTV: 70% -> 73%
• Liquidation Threshold: 75% -> 78%

DAI:

• LTV: 75% -> 76%
• Liquidation Threshold: 80% -> 81%

LINK:

• LTV: 50% -> 53%
• Liquidation Threshold: 65% -> 68%

WMATIC:

• LTV: 65% -> 68%
• Liquidation Threshold: 70% -> 73%
• Liquidation Bonus: 10% -> 7%

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.