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250-aave-v2-polygon-update-interest-rate-strategies.md

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Proposal 250. Aave v2 Polygon - update rate strategies and reserve factors


Voting link

https://app.aave.com/governance/proposal/?proposalId=250


Governance forum discussion

https://governance.aave.com/t/arfc-polygon-v2-parameter-update/12817


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates the interest rate strategies of multiple assets on Aave v2 Polygon, together with several Reserve Factor configurations.


Proposal creation

Transaction: https://etherscan.io/tx/0xe247bb653ecd593bed08400726fb9d53dfb8cb71bd04b94d9953de9b3e5b0666

- id: 250
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000bbd2b7418395d1782f0016095c6a26487d184873]
- withDelegatecalls: [true]
- startBlock: 17532468
- endBlock: 17551668
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xc379a1c8444f75347501f2084ee21e0c47d376f14683119e7d238d37e72d93d5

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/250.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/250_Polygon_pending_0.md


Technical analysis

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

The changes introduced by the payload on Aave v2 Polygon are the following (on rate strategy and reserve factors):

Aave v2 Polygon

DAI:

  • Optimal usage ratio: 80% -> 71%
  • Variable slope 2: 75% -> 105%
  • RF: 10% -> 21%

USDC:

  • Optimal usage ratio: 90% -> 77%
  • Variable slope 2: 60% -> 134%
  • RF: 10% -> 23%

USDC:

  • Optimal usage ratio: 80% -> 52%
  • Variable slope 2: 100% -> 236%
  • RF: 10% -> 22%

WBTC:

  • Optimal usage ratio: 65% -> 37%
  • Variable slope 2: 300% -> 536%
  • RF: 20% -> 55%

WETH:

  • Optimal usage ratio: 65% -> 40%
  • Variable slope 2: 100% -> 167%
  • RF: 10% -> 45%

WMATIC:

  • Optimal usage ratio: 65% -> 48%
  • Variable slope 2: 300% -> 440%
  • RF: 20% -> 41%

BAL:

  • Optimal usage ratio: 80% -> 65%
  • Variable slope 2: 150% -> 236%
  • RF: 20% -> 32%

CRV:

  • Optimal usage ratio: 45% -> 25%
  • Variable slope 2: 300% -> 392%
  • RF: 20% -> 38%

GHST:

  • Optimal usage ratio: 45% -> 23%
  • Variable slope 2: 300% -> 413%
  • RF: 20% -> 60%

LINK:

  • Optimal usage ratio: 45% -> 25%
  • Variable slope 2: 300% -> 402%
  • RF: 10% -> 50%

The updates are aligned with those defined in the Aave governance forum and Snapshot.

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.

✅ Multiple payloads used via delegatecall

✅ BGD reviewed the procedure followed to submit the proposal.