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337-aave-v3-optimism-OP-collateral.md

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Proposal 337. Aave v3 Optimism - enable OP as non-isolated collateral and borrowable


Voting link

https://app.aave.com/governance/proposal/?proposalId=337


Governance forum discussion

https://governance.aave.com/t/arfc-op-risk-parameters-update-aave-v3-optimism-pool/14633


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal enables the OP asset as standard collateral on Aave v3 Optimism, removing it from isolation mode.

Additionally, OP is enabled as borrowable asset.


Proposal creation

Transaction: https://etherscan.io/tx/0x9c867de1325d5a9fa3c6f794c4d079dd30fe684f3b167db0a25b5ff51cd0a3ac

- id: 337
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x5f5c02875a8e9b5a26fbd09040abcfdeb2aa6711]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000e704efe305b14bddbba3d6c7f4a559149edc1339]
- withDelegatecalls: [true]
- startBlock: 18292478
- endBlock: 18311678
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xad4da707ea4fc4356bd22a0eba7a1bf824ec052f8e1579b2f939509751743f0d

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/337.md

Optimism

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/337_Optimism_pending_0.md


Technical analysis

The proposal payload correctly uses the BGD's Aave Config Engine of Aave v3 Optimism, in this case, for the following:

  1. Remove OP from isolation mode, by setting its debt ceiling parameter to 0. The other current risk parameters are kept as previously configured.

  2. Set a borrow cap of 500'000 OP.

  3. Enabled OP as borrowing asset. The interest rate strategy is already configured from listing the following way:

  • Base variable borrow: 0%
  • Variable borrow slope 1: 7%
  • Variable borrow slope 2: 300%
  • Optimal point: 45%

The payload is aligned with the description on the Aave governance forum and Snapshot.


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.