177-aave-v3-polygon-ghst-parameters-update.md

Proposal 177. Aave v3 Polygon - GHST parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=177

Governance forum discussion

https://governance.aave.com/t/arfc-ghst-polygon-v3-soft-freeze/12192

BGD analysis

Proposal types

🔧 📊 params-update

Context

Due to an important change on the dynamics of liquidity of GHST, this proposal changes its risk parameters on Aave v3 Polygon, to effectively "freeze" the exposure of the protocol on the current state, setting LTV to 0, supply and borrow caps to current levels and disabling borrowing.

Proposal creation

Transaction: https://etherscan.io/tx/0x29d64110e75dda84d62601fccb36ab6bcad9b182350042943c731c6350ddfe3c

- id: 177
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000a0a864d3b0837e4806a91647c6ad382a7f73e1a8]
- withDelegatecalls: [true]
- startBlock: 16800630
- endBlock: 16819830
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xe6be54663d94d7012909b7237da14661be98e50a773fa4b6c724c8ee966872dd

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/177.md

Polygon https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/177_fx_17_0.md

Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system.

The proposal payload does the following:

• Sets supply cap of GHST to 4'650'000 GHST.
• Sets GHST borrow cap to 220'000 GHST.
• Sets LTV of GHST to 0.
• Disables borrowing of GHST.

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.