v3-62-aave-v3-ethereum-gho-rate-update.md

Proposal 62. GHO Stewards + Borrow Rate Update.

Voting link

https://vote.onaave.com/proposal/?proposalId=62

Governance forum discussion

https://governance.aave.com/t/arfc-gho-stewards-borrow-rate-update/16956

Payloads

• Ethereum - proposal payloads

Certora analysis

Proposal types

🔧 📊 configuration update

Context

This proposal sets new interest rate values for gho borrow to match market borrow rates of other established stablecoins.

Proposal creation

Transaction: https://etherscan.io/tx/0x51742365a553fd27ff3a669400a426df90dd81db1d1673af84c3889b8de999f6

- proposalId: 62
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0xbe29a6873c3a4a326ac8b4d04132668a0dfc8f25e9b54c48576cbb0a3561019c

createProposal() parameters

{
  "payloads": [ 
    { 
      "chain": "1", 
      "accessLevel": "1", 
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
      "payloadId": "89" 
    }, 
  ], 
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
  "ipfsHash": "0xbe29a6873c3a4a326ac8b4d04132668a0dfc8f25e9b54c48576cbb0a3561019c" 
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/62.md

Payload reports

• Ethereum V3 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/89.md

Technical analysis

We have verified that the payload changes the GHO interest rate strategy such that the borrow rate is increased to 13.00% APR without changing the max discount rate.

The proposal is consistent with the description on the governance forum.

Certora 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.

✅ Certora reviewed the procedure followed to submit the proposal.