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Proposal 4

Ipfs

Proposal text

Simple Summary

A proposal to reduce Liquidation Thresholds (LT) on Aave V2 Ethereum.

Motivation

In accordance with the v2 deprecation framework, Gauntlet and Chaos Labs advise implementing the subsequent parameter changes to the frozen assets on Aave v2 Ethereum.

Specification

The recommendations below suggest an LT configuration that optimizes reductions without significantly increasing the number of accounts eligible for liquidation. The proposed values are set at a margin of ~2-4% from the closest LT figure, which would trigger more substantial liquidations.

This will affect 39 accounts, leading to a cumulative of $14K in value liquidated.

Asset Current LT New LT
CRV 0.25 0.18
ENS 0.3 0.24
LINK 0.75 0.74
MKR 0.26 0.18
UNI 0.4 0.2
ZRX 0.18 0.12

As Liquidation Threshold reductions may lead to user accounts being eligible for liquidations upon their approval, we want to clarify the full implications to the community at each step. Chaos and Gauntlet will publicly communicate the planned amendments and list of affected accounts leading to the on-chain execution.

References

Disclaimer

Gauntlet and Chaos Labs have not been compensated by any third party for publishing this ARFC.

Copyright

Copyright and related rights waived via CC0.

By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.

Check: Reports all state changes ✅

Info

KeeperRegistry at 0x02777053d6764996e594c3E88AF1D58D5363a2e6

@@ `s_upkeep` key `"2651260633509968244842245718659958660539758109819220392919944208741153930322".lastKeeper` @@
- 0x083b4cc0db892160dc5928066d294ba8d4220830
+ 0x3824b7a9c6d4ea93456df9b07df4ffdb37ffbcbf

TransparentUpgradeableProxy at 0x9AEE0B04504CeF83A65AC3f0e838D0593BCb2BC7👻 with implementation Governance at 0x58BcB647C4beFf253B4B6996c62F737B783f2cDd

@@ `_proposals` key `"4".state` @@
- 2266914556268065158178461037363176203059396867
+ 2266914556268065158178461037363176203059396868

TransparentUpgradeableProxy at 0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5👻 with implementation PayloadsController at 0x7222182cB9c5320587b5148BF03eeE107AD64578

@@ Slot `0xa4b6f6c87384a4c75064343ffd6646b01b98a7d0701dec60343872fe39d78894` @@
- "0x000000000000659d9bff01019a187663e454e99cafd40a2712606cc306e301b2"
+ "0x0065a6e72f00659d9bff02019a187663e454e99cafd40a2712606cc306e301b2"

TransparentUpgradeableProxy at 0xEd42a7D8559a463722Ca4beD50E0Cc05a386b0e1👻 with implementation unknown contract name at 0x28559c2F4B038b1E836fA419DCcDe7454d8Fe215

@@ Slot `0x0000000000000000000000000000000000000000000000000000000000000002` @@
- "0x000000000000000000000000000000000000000000000000000000000000007c"
+ "0x000000000000000000000000000000000000000000000000000000000000007d"
@@ Slot `0x0000000000000000000000000000000000000000000000000000000000000003` @@
- "0x000000000000000000000000000000000000000000000000000000000000007c"
+ "0x000000000000000000000000000000000000000000000000000000000000007d"
@@ Slot `0x2a6597b6e7a101406d87259f11a49f42f80708d31573c7c8f330501311f21a79` @@
- "0x0000000000000000000000000000000000000000000000000000000000000000"
+ "0x0000000000000000000000000000000000000000000000000000000000000001"
@@ Slot `0x7b2b0e3adb4002ad4021b378c329235a34d1174776fc75d1b1c4aba1907721d1` @@
- "0x0000000000000000000000000000000000000000000000000000000000000000"
+ "0x0000000000000000000000000000000000000000000000000000000000000001"

Check: Reports all events emitted from the proposal ✅

Info

  • TransparentUpgradeableProxy at 0xEd42a7D8559a463722Ca4beD50E0Cc05a386b0e1👻 with implementation unknown contract name at 0x28559c2F4B038b1E836fA419DCcDe7454d8Fe215
    • EnvelopeRegistered(envelopeId: 0x5f9b579d41e7e14ec8583c735b48716aa2d7ecad7a75044f540ce9c1a4c75208, envelope: [object Object])
    • TransactionForwardingAttempted(transactionId: 0x3259dadb690ffffba048f47e6fd7a87f2b4e9dfcd935fe0012196fed2dab88c0, envelopeId: 0x5f9b579d41e7e14ec8583c735b48716aa2d7ecad7a75044f540ce9c1a4c75208, encodedTransaction: 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, destinationChainId: 1, bridgeAdapter: 0x118dfd5418890c0332042ab05173db4a2c1d283c, destinationBridgeAdapter: 0x118dfd5418890c0332042ab05173db4a2c1d283c, adapterSuccessful: true, returnData: 0x000000000000000000000000dabad81af85554e9ae636395611c58f7ec1aaec50000000000000000000000000000000000000000000000000000000000000000)
  • TransparentUpgradeableProxy at 0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5👻 with implementation PayloadsController at 0x7222182cB9c5320587b5148BF03eeE107AD64578
    • PayloadQueued(payloadId: 45)
    • PayloadExecutionMessageReceived(originSender: 0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7, originChainId: 1, delivered: true, message: 0x000000000000000000000000000000000000000000000000000000000000002d00000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000065a2e9c7, reason: 0x)
  • TransparentUpgradeableProxy at 0x9AEE0B04504CeF83A65AC3f0e838D0593BCb2BC7👻 with implementation Governance at 0x58BcB647C4beFf253B4B6996c62F737B783f2cDd
    • PayloadSent(proposalId: 4, payloadId: 45, payloadsController: 0xdabad81af85554e9ae636395611c58f7ec1aaec5, chainId: 1, payloadNumberOnProposal: 0, numberOfPayloadsOnProposal: 1)
    • ProposalExecuted(proposalId: 4)
  • GovernanceChainRobotKeeper at 0x011824f238AEE05329213d5Ae029e899e5412343
    • ActionSucceeded(id: 4, action: 1)
  • KeeperRegistry at 0x02777053d6764996e594c3E88AF1D58D5363a2e6
    • UpkeepPerformed(id: 2651260633509968244842245718659958660539758109819220392919944208741153930322, success: true, from: 0x3824b7a9c6d4ea93456df9b07df4ffdb37ffbcbf, payment: 0, performData: 0x0000000000000000000000000000000000000000000000000000000000000020000000000000000000000000000000000000000000000000000000000000000100000000000000000000000000000000000000000000000000000000000000040000000000000000000000000000000000000000000000000000000000000001)

Check: Check all touched contracts are verified on Etherscan ✅

Info

  • 0x3824b7a9c6d4ea93456df9b07df4ffdb37ffbcbf: EOA (verification not applicable)
  • 0x02777053d6764996e594c3e88af1d58d5363a2e6: Contract (verified) (KeeperRegistry)
  • 0x169e633a2d1e6c10dd91238ba11c4a708dfef37c: Contract (verified) (EACAggregatorProxy)
  • 0x785433d8b06d77d68df6be63944742130a4530d1: Contract (verified) (AccessControlledOffchainAggregator)
  • 0xdc530d9457755926550b59e8eccdae7624181557: Contract (verified) (EACAggregatorProxy) 👻
  • 0xbba12740de905707251525477bad74985dec46d2: Contract (verified) (AccessControlledOffchainAggregator)
  • 0x011824f238aee05329213d5ae029e899e5412343: Contract (verified) (GovernanceChainRobotKeeper)
  • 0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7: Contract (verified) (TransparentUpgradeableProxy) 👻
  • 0x58bcb647c4beff253b4b6996c62f737b783f2cdd: Contract (verified) (Governance)
  • 0xa198fac58e02a5c5f8f7e877895d50cfa9ad1e04: Contract (verified) (GovernancePowerStrategy) 👻
  • 0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9: Contract (verified) (InitializableAdminUpgradeabilityProxy) 👻
  • 0x5d4aa78b08bc7c530e21bf7447988b1be7991322: Contract (verified) (AaveTokenV3)
  • 0x4da27a545c0c5b758a6ba100e3a049001de870f5: Contract (verified) (InitializableAdminUpgradeabilityProxy) 👻
  • 0x0fe58fe1caa69951dc924a8c222be19013b89476: Contract (verified) (StakedAaveV3)
  • 0xa700b4eb416be35b2911fd5dee80678ff64ff6c9: Contract (verified) (InitializableImmutableAdminUpgradeabilityProxy) 👻
  • 0x366ae337897223aea70e3ebe1862219386f20593: Contract (verified) (ATokenWithDelegation)
  • 0xed42a7d8559a463722ca4bed50e0cc05a386b0e1: Contract (verified) (TransparentUpgradeableProxy) 👻
  • 0x0bf5bbfae7808d329e0ba8277e0b746bbfda68f1: Contract (verified) (CrossChainController)
  • 0x118dfd5418890c0332042ab05173db4a2c1d283c: Contract (verified) (SameChainAdapter)
  • 0xdabad81af85554e9ae636395611c58f7ec1aaec5: Contract (verified) (TransparentUpgradeableProxy) 👻
  • 0x7222182cb9c5320587b5148bf03eee107ad64578: Contract (verified) (PayloadsController)

Check: Check all touched contracts do not contain selfdestruct ✅

Warnings

Info