255-aave-v2-ethereum-riks-params-update.md

Proposal 255. Aave v2 Ethereum - CRV risk parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=255

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-crv-aave-v2-ethereum-2023-06-15/13709

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates multiple risk parameters of the CRV asset on Aave v2 Ethereum.

Proposal creation

Transaction: https://etherscan.io/tx/0xf254442d1450299fe7bd06717d9b76c4aedeb16c033f923ca88e49a9572d34be

- id: 255
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x317129b1bf6c65c2185fbbae0f452d8ecedb9ed9]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 17585784
- endBlock: 17604984
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0x8011346b7539d7041e50f33fa09632c0e977614d920b941de6d0b6f658d00116

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/255.md

Technical analysis

We have verified the proposal payload properly changes the following risk parameters of CRV on Aave v2 Ethereum:

CRV

• LTV: 52% -> 49%
• Liquidation Threshold: 58% -> 55%

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.