301-aave-v3-polygon-caps-update.md

Proposal 301. Aave v3 Polygon - MATICx supply cap update

Voting link

https://app.aave.com/governance/proposal/?proposalId=301

Governance forum discussion

https://governance.aave.com/t/arfc-increase-maticx-supply-cap/14341

BGD analysis

Proposal types

🔧 📊 params-update

Context

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

Proposal creation

Transaction: https://etherscan.io/tx/0x31c9957fcf88a7be925392c8a1aaa95529ea2c8c64a160a17f911a929f2bd447

- id: 301
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000f8ad3689e88cfec0afa82b65681336140574dd69]
- withDelegatecalls: [true]
- startBlock: 17930118
- endBlock: 17949318
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xcf4879103e3d98e72aac58a16f5eae53e9336b419379fc577003f99606588bb3

Aave Seatbelt reports

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/301.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/301_Polygon_pending_0.md

Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Polygon.

From a technical perspective, we have verified the proposal payload correctly uses the BGD's Aave Config Engine of Aave v3 Polygon, in this case, to update the supply cap of MATICx the following way:

• Supply cap: 50'600'000 MATICx -> 62'000'000 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.