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222-aave-v3-polygon-params-update.md

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Proposal 222 (Repetition of Proposal 216). Aave v3 Polygon - risk parameters update


Voting link

https://app.aave.com/governance/proposal/?proposalId=222


Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-aave-v3-polygon-2023-04-23/12828/2


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates multiple risk parameters on Aave v3 Polygon.


Proposal creation

Transaction: https://etherscan.io/tx/0x68a2ad44e13dfa664cfacea5a342e041ab1e0a8fa39c1e228c0e95f1d1f78e70

- id: 222
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000c53586aa2626094bd33c123794e34417ea877a36]
- withDelegatecalls: [true]
- startBlock: 17236292
- endBlock: 17255492
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x0534109ab793da6816093b041e5f1685ed1f2523ad69c7e734a85a5bcf22895b

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/222.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/222_fx_35_0.md


Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Polygon.

The proposal payload on Polygon does the following:

WBTC

  • LTV: 70% -> 73%
  • Liquidation Threshold: 75% -> 78%

DAI:

  • LTV: 75% -> 76%
  • Liquidation Threshold: 80% -> 81%

LINK:

  • LTV: 50% -> 53%
  • Liquidation Threshold: 65% -> 68%

WMATIC:

  • LTV: 65% -> 68%
  • Liquidation Threshold: 70% -> 73%
  • Liquidation Bonus: 10% -> 7%

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.