280-aave-v2-ethereum-crv-risk-params-update.md

Proposal 280. Aave v2 Ethereum - CRV risk parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=280

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-crv-aave-v2-ethereum-2023-07-10/13952

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal adjusts the LTV and Liquidation Threshold on Aave v2 Ethereum.

Proposal creation

Transaction: https://etherscan.io/tx/0x02c9073874234223f74e7e45b56e4f997413b5cb36b7bcddc1ada40e840b38c2

- id: 280
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x2dcbc45d1aa88c1f6f8138ed5e93c8a9a20f5350]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 17783645
- endBlock: 17802845
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xd76a03c6d1fac5c9e957bb741f3b13f75ba0682ed4d5d19cca641b44be0e8c62

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/280.md

Technical analysis

We have verified the proposal payload does the following changes on Aave v2 Ethereum, by interacting with its PoolConfigurator smart contract:

CRV

• LTV: 49% -> 43%
• Liquidation Threshold: 55% -> 49%

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.