v3-159-aave-v3-multichain-stablecoin-IR-curve-amendment.md

Proposal 159. Stablecoin IR Curve Amendment.

Voting link

https://vote.onaave.com/proposal/?proposalId=159

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-stablecoin-ir-curve-amendment-on-aave-v2-and-v3-2024-08-15/18669

Payloads

• Ethereum V2 - proposal payloads
• Ethereum V3 - proposal payloads
• Polygon - proposal payloads
• Avalanche - proposal payloads
• Optimism - proposal payloads
• Arbitrum - proposal payloads
• Base - proposal payloads
• Gnosis - proposal payloads
• Scroll - proposal payloads
• Scroll - proposal payloads
• BNB - proposal payloads

Certora analysis

Proposal types

🔧 📊 configuration update

Context

This proposal sets new stablecoin Interest Rate parameters (slope1) across all Aave deployments.

Proposal creation

Transaction: https://etherscan.io/tx/0x7ea0ca0520e214cf3fc9da4039a710f3b05efae255100e13b0c02fc33a2c99ab

- proposalId: 159
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0x576175a4657e2ce79f1c9c41b61ac28609466b7886f4d2c0cd25265fd052d0b3

createProposal() parameters

{
  "payloads": [ 
    { 
      "chain": "1", 
      "accessLevel": "1", 
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
      "payloadId": "167" 
    }, 
    { 
      "chain": "137", 
      "accessLevel": "1", 
      "payloadsController": "0x401B5D0294E23637c18fcc38b1Bca814CDa2637C", 
      "payloadId": "80" 
    }, 
    { 
      "chain": "43114", 
      "accessLevel": "1", 
      "payloadsController": "0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80", 
      "payloadId": "51" 
    }, 
    { 
      "chain": "10", 
      "accessLevel": "1", 
      "payloadsController": "0x0E1a3Af1f9cC76A62eD31eDedca291E63632e7c4", 
      "payloadId": "46" 
    }, 
    { 
      "chain": "42161", 
      "accessLevel": "1", 
      "payloadsController": "0x89644CA1bB8064760312AE4F03ea41b05dA3637C", 
      "payloadId": "48" 
    }, 
    { 
      "chain": "8453", 
      "accessLevel": "1", 
      "payloadsController": "0x2DC219E716793fb4b21548C0f009Ba3Af753ab01", 
      "payloadId": "33" 
    }, 
    { 
      "chain": "100", 
      "accessLevel": "1", 
      "payloadsController": "0x9A1F491B86D09fC1484b5fab10041B189B60756b", 
      "payloadId": "29" 
    }, 
    { 
      "chain": "534352", 
      "accessLevel": "1", 
      "payloadsController": "0x6b6B41c0f8C223715f712BE83ceC3c37bbfDC3fE", 
      "payloadId": "21" 
    }, 
    { 
      "chain": "56", 
      "accessLevel": "1", 
      "payloadsController": "0xE5EF2Dd06755A97e975f7E282f828224F2C3e627", 
      "payloadId": "20" 
    }, 
  ], 
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
  "ipfsHash": "0x576175a4657e2ce79f1c9c41b61ac28609466b7886f4d2c0cd25265fd052d0b3" 
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/159.md

Payload reports

• Ethereum V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/167.md

• Polygon V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/137/0x401B5D0294E23637c18fcc38b1Bca814CDa2637C/80.md

• Avalanche V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/43114/0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80/51.md

• Optimism V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/10/0x0E1a3Af1f9cC76A62eD31eDedca291E63632e7c4/46.md

• Arbitrum V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/42161/0x89644CA1bB8064760312AE4F03ea41b05dA3637C/48.md

• Base V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/8453/0x2DC219E716793fb4b21548C0f009Ba3Af753ab01/33.md

• Gnosis V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/100/0x9A1F491B86D09fC1484b5fab10041B189B60756b/29.md

• Scroll V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/534352/0x6b6B41c0f8C223715f712BE83ceC3c37bbfDC3fE/21_forge.md

• BNB V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/56/0xE5EF2Dd06755A97e975f7E282f828224F2C3e627/20.md

Technical analysis

We have verified that the payload changes the slope1 of the specified tokens to 5.5%.

The proposal is consistent with the description on the governance forum.

Certora 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.

✅ Certora reviewed the procedure followed to submit the proposal.