220-aave-v3-polygon-caps-update-and-agd-correction.md

Proposal 220. Aave v3 Polygon - Caps update

Voting link

https://app.aave.com/governance/proposal/?proposalId=220

Governance forum discussion

https://governance.aave.com/t/arfc-maticx-supply-cap-increase-polygon-v3/12657

https://governance.aave.com/t/updated-proposal-aave-grants-dao-renewal/11289/9

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the supply cap of MATICX on Aave v3 Polygon.

Additionally, it gives allowance of aUSDT Aave v2 to Aave Grants DAO, replacing the wrong allowance of aUSDT Aave v1.

Proposal creation

Transaction: https://etherscan.io/tx/0x5b98c853524ecb168bb2151ff8859aff7313785773ea1709e14741a652c1e2b8

- id: 220
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x7be4fa90565d6fd6f7091d0af9e5a7f9cd7918a6,0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0,0]
- signatures: [execute(),execute(address)]
- calldatas: [0x,0x00000000000000000000000022c669eedf6e58de81777692b070cdb7432a4f84]
- withDelegatecalls: [true,true]
- startBlock: 17224367
- endBlock: 17243567
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xa3267468b4d12df2ded6b48eea658134acfb9e512b2b34ca9299fde49062531f

Aave Seatbelt reports

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/220.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/220_fx_35_0.md

Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system for the payload interacting with Polygon.

Regarding the changes, we verified they are the following:

Ethereum

The payload correctly reduces the allowance of aUSDT Aave v1 to 0, and replaces it with allowance of 812'944.90 aUSDT Aave v2.

Polygon

The payload correctly updates the supply cap of MATICX from 17'200'000 MATIC to 29'300'000 MATICX.

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.