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Proposal 383. Aave v2 Ethereum - Risk parameters update


Voting link

https://app.aave.com/governance/proposal/?proposalId=383


Governance forum discussion

https://governance.aave.com/t/arfc-v2-ethereum-deprecation-11-20-2023/15628


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates multiple risk parameters on Aave v2 Ethereum.


Proposal creation

Transaction: https://etherscan.io/tx/0x1ece8f4458fdb641217c971c4237cafb5dd541d84efbf3539120b98418716ff4

- id: 383
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7]
- values: [0]
- signatures: [forwardPayloadForExecution((uint256,uint8,address,uint40))]
- calldatas: [0x00000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000000000001000000000000000000000000dabad81af85554e9ae636395611c58f7ec1aaec50000000000000000000000000000000000000000000000000000000000000017]
- withDelegatecalls: [false]
- startBlock: 18637784
- endBlock: 18656984
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x4a54b101821f12b78ac4215ac84658d9ef6278a814267264728f2c57e998f83f

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/383.md

Payloads report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/23.md


Technical analysis

We have verified the proposal payload updates the following parameters on Aave v2 Ethereum, via its Pool Configurator contract:

YFI

  • Liquidation Threshold: 43% -> 32%

MANA

  • Liquidation Threshold: 37% -> 29%

DPI:

  • Liquidation threshold: 14% -> 5%

UNI

  • Liquidation Threshold: 64% -> 55%

REN

  • Liquidation Threshold: 25% -> 18%

CVX

  • Liquidation Threshold: 30% -> 24%

LINK:

  • Liquidation Threshold: 81% -> 80%

MKR

  • Liquidation Threshold: 30% -> 28%

SNX

  • Liquidation Threshold: 41% -> 30%

ENS

  • Liquidation Threshold: 47% -> 38%

CRV:

  • Liquidation Threshold: 38% -> 30%

ZRX

  • Liquidation Threshold: 34% -> 24%

ENJ

  • Liquidation Threshold: 50% -> 44%

BAL

  • Liquidation Threshold: 21% -> 1%

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.