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Proposal 362. Aave v2 Ethereum - Risk parameters update


Voting link

https://app.aave.com/governance/proposal/?proposalId=362


Governance forum discussion

https://governance.aave.com/t/arfc-v2-ethereum-lt-reductions-10-27-2023/15249


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates multiple risk parameters on Aave v2 Ethereum.


Proposal creation

Transaction: https://etherscan.io/tx/0xd73831d9ef5b6770637b5e24fe87f195aadde9bb2218136cd9c66755ad1eaedb

- id: 362
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7]
- values: [0]
- signatures: [forwardPayloadForExecution((uint256,uint8,address,uint40))]
- calldatas: [0x00000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000000000001000000000000000000000000dabad81af85554e9ae636395611c58f7ec1aaec50000000000000000000000000000000000000000000000000000000000000002]
- withDelegatecalls: [false]
- startBlock: 18529541
- endBlock: 18548741
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xb4f51e1760e48fe78974223d6e539f0eb40223b49ad48bbe2b8717fe553640d3

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/362.md

Payloads report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/2.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: 45% -> 43%

MANA

  • Liquidation Threshold: 48% -> 37%

1INCH

  • Liquidation Threshold: 24% -> 1%

DPI:

  • Liquidation threshold: 16% -> 14%

UNI

  • Liquidation Threshold: 70% -> 64%

REN

  • Liquidation Threshold: 27% -> 25%

CVX

  • Liquidation Threshold: 33% -> 30%

LINK:

  • Liquidation Threshold: 82% -> 81%

XSUSHI

  • Liquidation Threshold: 28% -> 1%

MKR

  • Liquidation Threshold: 35% -> 30%

BAL

  • Liquidation Threshold: 25% -> 21%

SNX

  • Liquidation Threshold: 43% -> 41%

ENS

  • Liquidation Threshold: 50% -> 47%

CRV:

  • Liquidation Threshold: 42% -> 38%

ZRX

  • Liquidation Threshold: 37% -> 34%

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.