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Proposal 121. Aave v2 Ethereum - Risk Parameter Updates 2022-22-11


Voting link

https://app.aave.com/governance/proposal/?proposalId=121


Governance forum discussion

https://governance.aave.com/t/arc-risk-parameter-recommendations-for-aave-v2-eth-2022-11-22/10757


BGD analysis


Proposal types

🔧 📊 params-update

🧊 freeze-asset


Context

This proposal is an update of risk parameters on Aave v2 Ethereum by Gauntlet, to freeze multiple assets, given the current situation of volatility in the market.


Proposal creation

Transaction: https://etherscan.io/tx/0x8a03e955415009e1e1af771cb5cbc7298e23af249f0d3af36a2d1cba120814c0

- id: 121
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756,0x311bb771e4f8952e6da169b425e7e92d6ac45756]
- values: [0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
- signatures: [,,,,,,,,,,,,,,,,]
- calldatas: [0x7aca76eb0000000000000000000000000bc529c00c6401aef6d220be8c6ea1667f6ad93e,0x7aca76eb000000000000000000000000d533a949740bb3306d119cc777fa900ba034cd52,0x7aca76eb000000000000000000000000e41d2489571d322189246dafa5ebde1f4699f498,0x7aca76eb0000000000000000000000000f5d2fb29fb7d3cfee444a200298f468908cc942,0x7aca76eb000000000000000000000000111111111117dc0aa78b770fa6a738034120c302,0x7aca76eb0000000000000000000000000d8775f648430679a709e98d2b0cb6250d2887ef,0x7aca76eb00000000000000000000000057ab1ec28d129707052df4df418d58a2d46d5f51,0x7aca76eb000000000000000000000000f629cbd94d3791c9250152bd8dfbdf380e2a3b9c,0x7aca76eb000000000000000000000000056fd409e1d7a124bd7017459dfea2f387b6d5cd,0x7aca76eb000000000000000000000000d46ba6d942050d489dbd938a2c909a5d5039a161,0x7aca76eb00000000000000000000000003ab458634910aad20ef5f1c8ee96f1d6ac54919,0x7aca76eb0000000000000000000000008e870d67f660d95d5be530380d0ec0bd388289e1,0x7aca76eb0000000000000000000000005f98805a4e8be255a32880fdec7f6728c6568ba0,0x7aca76eb0000000000000000000000008798249c2e607446efb7ad49ec89dd1865ff4272,0x7aca76eb0000000000000000000000001494ca1f11d487c2bbe4543e90080aeba4ba3c2b,0x7aca76eb000000000000000000000000d5147bc8e386d91cc5dbe72099dac6c9b99276f5,0x7aca76eb0000000000000000000000009f8f72aa9304c8b593d555f12ef6589cc3a579a2]
- withDelegatecalls: [false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
- startBlock: 16035767
- endBlock: 16054967
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xe26d1feceabefae6e63aa72c5aa30747387b847f6be3c605b39b645a4a1cd2f4

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/121.md


Technical analysis

From a technical perspective, we have verified that the calldata submitted as payload of the proposal freezes multiple assets on Aave v2 Ethereum, by calling freezeReserve() on the Aave Pool Configurator. The affected assets are:

  • YFI
  • CRV
  • ZRX,
  • MANA
  • 1INCH
  • BAT
  • sUSD
  • ENJ
  • GUSD
  • AMPL
  • RAI
  • USDP
  • LUSD
  • xSUSHI
  • DPI
  • renFIL
  • MKR

BGD validations

✅ The code on the proposal payload corresponds to the proposal specification.

✅ Payload encoded via multiple targets and calldatas, no delegatecall

✅ BGD reviewed the payload before the proposal was submitted.

❓ The proposal includes a proper tests suite, checking all necessary post-conditions.

❌ BGD reviewed the procedure followed to submit the proposal.