v3-16-aave-v2-ethereum-rate-strategy-update.md

V3. Proposal 16. Aave v2 Ethereum - Rate strategy update

Voting link

https://vote.onaave.com/proposal/?proposalId=16

Governance forum discussion

https://governance.aave.com/t/arfc-ampl-interest-rate-updates-on-v2-ethereum/16189

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal changes Slope 2 on the AMPL interest rate strategy on Aave v2, in order to contain the virtual "growth" of aToken. Additionally, it also increase the RF of the asset to 99.9%.

Proposal creation

Transaction: https://etherscan.io/tx/0x2e013fac6bc5b0795a50520dbea72e5049d93c4d59dcf2d5633145abca89c613

- proposalId: 16
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0x48d14f1fd7d5156c549cb107041da3d1329c05d95bbabba7d57eecbd8beedc45

createProposal() parameters

{
  "payloads": [
    {
      "chain": "1",
      "accessLevel": 1,
      "payloadsController": "0xdabad81af85554e9ae636395611c58f7ec1aaec5",
      "payloadId": "55"
    }
  ],
  "votingPortal": "0x9b24c168d6a76b5459b1d47071a54962a4df36c3",
  "ipfsHash": "0x48d14f1fd7d5156c549cb107041da3d1329c05d95bbabba7d57eecbd8beedc45"
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/16.md

Payloads report

Ethereum

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/55.md

Technical analysis

We have verified the proposal payload does the following changes on AMPL:

• Rate Slope 2: 300% -> 0%
• RF: 99% -> 99.9%

The proposal payload is consistent with the description in the Aave governance forum.

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.