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288-aave-multichain-risk-params-update.md

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Proposal 288. Aave v3 Ethereum, Polygon - Risk parameters update


Voting link

https://app.aave.com/governance/proposal/?proposalId=288


Governance forum discussion

https://governance.aave.com/t/gauntlet-recommendation-to-lower-crv-lt-on-v3-ethereum-and-polygon/14302


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal adjusts different risk parameters of CRV on both Aave v3 Ethereum and Aave v3 Polygon.


Proposal creation

Transaction: https://etherscan.io/tx/0xbb2e4cbc4025c96a920335b2d8d74ac5fee7b40aeb31065d907c123017a6c255

- id: 288
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x7aa759a57c6b039a93e93683facd14209ee9a3dd,0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0,0]
- signatures: [execute(),execute(address)]
- calldatas: [0x,0x000000000000000000000000c12ad8b3d242b1eddc1c8319d1d58608e67043ed]
- withDelegatecalls: [true,true]
- startBlock: 17851744
- endBlock: 17870944
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x4940eb2481c308072d4e2431c167477918e48edf25551c54bdac13d1f78d8497

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/288.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/288_Polygon_pending_0.md


Technical analysis

We have verified the proposal properly uses cross-chain governance (for the Polygon payload), and the BGD Aave Config Engine (v3 Ethereum and Polygon) to do the following changes on 2 separate payloads:

Aave v3 Ethereum

CRV

  • LTV: 55% -> 35%
  • Liquidation Threshold: 61% -> 41%
  • Debt ceiling: 20'900'000 USD -> 5'000'000 USD

Aave v3 Polygon

CRV

  • LTV: 70% -> 35%
  • Liquidation Threshold: 75% -> 65%

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.