v3-1-aave-v2-polygon-reserve-factor-updates.md

V3. Proposal 1. Aave v2 Polygon - Reserve Factor updates

Voting link

https://vote.onaave.com/proposal/?proposalId=1

Governance forum discussion

https://governance.aave.com/t/arfc-reserve-factor-updates-polygon-aave-v2/13937/14

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal increases the Reserve Factor parameter on multiple Aave v2 Polygon assets, with the objective of incentivising migrations to Aave v3 Polygon.

Proposal creation

Transaction: https://etherscan.io/tx/0xd5c3f2e3879fe7b5429df9068877cf41d3e18eeca7a064ce8ba7399bacc86d5d

- proposalId: 1
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0x552721cffc5278357af7de0861cbf8a493488c64ec112cf573b9a33623602b90

createProposal() parameters

{
  "payloads": [
    {
      "chain": "137",
      "accessLevel": 1,
      "payloadsController": "0x401b5d0294e23637c18fcc38b1bca814cda2637c",
      "payloadId": "26"
    }
  ],
  "votingPortal": "0x9b24c168d6a76b5459b1d47071a54962a4df36c3",
  "ipfsHash": "0x552721cffc5278357af7de0861cbf8a493488c64ec112cf573b9a33623602b90"
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/1.md

Payloads report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/137/0x401B5D0294E23637c18fcc38b1Bca814CDa2637C/26.md

Technical analysis

We have verified the proposal payload properly changes the following Reserve Factors on Aave v2 Polygon:

WMATIC: 76% -> 81%

WBTC: 90% -> 95%

USDC: 58% -> 63%

WETH: 80% -> 85%

DAI: 56% -> 61%

USDT: 57% -> 62%

The proposal payload is consistent with the description in the Aave governance forum.

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.