211-aave-v2-v3-multichain-update-interest-rate-strategy-bal.md

Proposal 211. Aave v2/v3 Ethereum, Polygon - update BAL rate strategies

Voting link

https://app.aave.com/governance/proposal/?proposalId=211

Governance forum discussion

https://governance.aave.com/t/arfc-bal-interest-rate-upgrade/12423

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the interest rate strategies of BAL on Aave v2 and v3 Ethereum and Polygon.

Proposal creation

Transaction: https://etherscan.io/tx/0xe7b6dd1190250f8151a9acd2e6810b6ad8fe41819f31e938c6d03b8a0f7f19f8

- id: 211
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xeb7d3e4a6c8fb0f780e1499f9862188a65e80b14,0x5852d2e7d9e9e7a03535dd1a6c636ac7bd956070,0x158a6bc04f0828318821bae797f50b0a1299d45b,0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0,0,0,0]
- signatures: [execute(),execute(),execute(address),execute(address)]
- calldatas: [0x,0x,0x000000000000000000000000fb2a7eb134fa2d03d9a2c8fe0a9758132fe15357,0x000000000000000000000000918c0cd8291c687176029d1f2296a17e63ed3c83]
- withDelegatecalls: [true,true,true,true]
- startBlock: 17133438
- endBlock: 17152638
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x6c90c3ffa356c41df1e713cbad996d25f50e859f44d63572a973ebff0710d325

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/211.md

Polygon

Payload 1:

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/211_fx_29_0.md

Payload 2:

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/211_fx_29_1.md

Technical analysis

We have verified that on the non-Ethereum payloads, the proposal uses correctly the Aave cross-chain governance system to communicate with Polygon.

We have verified to all the following payloads do the same changes on the BAL rates strategies on all Aave instances:

• Base variable rate: 5%
• Variable rate slope 1: 22%
• Variable rate slope 2: 150%

Aave v2 Ethereum

Aave v3 Ethereum

Aave v2 Polygon

Aave v3 Polygon

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.

✅ Multiple payloads used via delegatecall

✅ BGD reviewed the procedure followed to submit the proposal.