125-aave-v2-ethereum-risk-parameter-updates.md

Proposal 125. Aave v2 Ethereum - Risk Parameter Updates

Voting link

https://app.aave.com/governance/proposal/?proposalId=125

Governance forum discussion

https://governance.aave.com/t/risk-parameter-updates-for-aave-v2-ethereum-liquidity-pool-2022-11-25/10824

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal is an update of risk parameters on Aave v2 Ethereum by Chaos Labs and Llama, applying more granular changes than the ones on proposal 121.

Proposal creation

Transaction: https://etherscan.io/tx/0x69c0b60d20fbf415f04a471d944d81f590a8dce3e21994248606ab1b0c995ebc

- id: 125
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x53d3d14f9b2b8fe12d0da6864c76ed565716570e]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 16055505
- endBlock: 16074705
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x401526716b075f2f211f4309ab895e7ada1c6e9e00c17ee13a4980776457ab21

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/125.md

Technical analysis

From a technical perspective, we have verified that the proposal payload does the following changes on Aave v2 Ethereum, by interacting with the Aave Pool Configurator:

• YFI

  • Freeze (already frozen by 121, so no extra effect)

• CRV

  • Unfreeze
  • Disable borrowing

• ZRX

  • Freeze (already frozen by 121, so no extra effect)

• MANA

  • Freeze (already frozen by 121, so no extra effect)

• 1INCH

  • Unfreeze
  • Disable borrowing

• BAT

  • Freeze (already frozen by 121, so no extra effect)

• sUSD

  • Unfreeze

• ENJ

  • Freeze (already frozen by 121, so no extra effect)

• GUSD

  • Unfreeze

• AMPL

  • Freeze (already frozen by 121, so no extra effect)

• RAI

  • Freeze (already frozen by 121, so no extra effect)

• USDP

  • Unfreeze

• LUSD

  • Unfreeze

• xSUSHI

  • Freeze (already frozen by 121, so no extra effect)

• DPI

  • Unfreeze

• renFIL

  • Freeze (already frozen by 121, so no extra effect)

• MKR

  • Unfreeze
  • Disable borrowing

• ENS

  • Disable borrowing

• LINK

  • Disable borrowing (already disabled by 122)

• UNI

  • Disable borrowing (already disabled by 123)

• SNX

  • Disable borrowing

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.