231-aave-v3-polygon-caps-update.md

Proposal 231. Aave v3 Polygon - WMATIC caps update

Voting link

https://app.aave.com/governance/proposal/?proposalId=231

Governance forum discussion

https://governance.aave.com/t/arfc-wmatic-supply-borrow-cap-increase-polygon-v3-16-05-2023/13095

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the supply and borrow caps of WMATIC on Aave v3 Polygon.

Proposal creation

Transaction: https://etherscan.io/tx/0xa251b9b3bbe6cd0672770d2ea819b2d93a848778746a6cf0e5ab60ae2eb39b0a

- id: 231
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000eb06d30b4bb21ca98279b74fd2325b8f2759aa50]
- withDelegatecalls: [true]
- startBlock: 17302458
- endBlock: 17321658
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xbd4025b126376e7845780150adbe088f305d03bb15693e819a5819b03b3f3664

Aave Seatbelt reports

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/231.md

Polygon

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/231_fx_41_0.md

Technical analysis

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

From a technical perspective, we have verified the proposal payload correctly uses the BGD's Aave Config Engine of Aave v3 Polygon, in this case, to update both the supply and borrow caps of WMATIC the following way:

• Supply cap: 66'000'000 WMATIC -> 90'000'000 WMATIC
• Borrow cap: 39'950'000 WMATIC -> 50'000'000 WMATIC

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.