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Proposal 341. Aave v2 Ethereum - Risk parameters update


Voting link

https://app.aave.com/governance/proposal/?proposalId=341


Governance forum discussion

https://governance.aave.com/t/arfc-v2-ethereum-deprecation-10-03-2023/15040


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates multiple risk parameters on Aave v2 Ethereum.


Proposal creation

Transaction: https://etherscan.io/tx/0x3d8b00c1027f20757d851066d623f2eda320e0a034cff5fb1a31cb54caa2f33d

- id: 341
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xff374ad1be52ff54cf576586253a113d3f48d4b7]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 18333191
- endBlock: 18352391
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x6df1ac73c6175c6e3a3cb8b8953739452c9024d895ccca20ecf151161eb39d8e

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/341.md


Technical analysis

We have verified the proposal payload updates the following parameters on Aave v2 Ethereum, via its Pool Configurator contract:

YFI

  • Liquidation Threshold: 50% -> 45%

BAT

  • Liquidation Threshold: 40% -> 1%

MANA

  • Liquidation Threshold: 54% -> 48%

1INCH

  • Liquidation Threshold: 40% -> 24%
  • LTV: 30% -> 0%

DPI:

  • Liquidation threshold: 42% -> 16%

UNI

  • LTV: 58% -> 0%

REN

  • Liquidation Threshold: 32% -> 27%

CVX

  • Liquidation Threshold: 35% -> 33%

LINK:

  • LTV: 70% -> 0%
  • Liquidation Threshold: 83% -> 82%

XSUSHI

  • Liquidation Threshold: 57% -> 28%

MKR

  • Liquidation Threshold: 50% -> 35%
  • LTV: 45% -> 0%

BAL

  • Liquidation Threshold: 35% -> 25%

SNX

  • Liquidation Threshold: 49% -> 43%
  • LTV: 36% -> 0%

ENS

  • Liquidation Threshold: 52% -> 50%
  • LTV: 42% -> 0%

CRV:

  • Reserve Factor: 45% -> 42%

ZRX

  • Liquidation Threshold: 42% -> 37%

ENJ

  • Liquidation Threshold: 52% -> 50%

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.