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v3-133-aave-v3-lido-ethereum-instance-activation.md

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Proposal 133. Lido Ethereum Instance Activation.


Voting link

https://vote.onaave.com/proposal/?proposalId=133


Governance forum discussion

https://governance.aave.com/t/arfc-deploy-a-lido-aave-v3-instance/18047


Payloads


Certora analysis


Proposal types

🔧 📊 configuration update

💎 🆕 asset-listing

🤝 permission granting or revoking


Context

This proposal activates the ethereumLido v3.1 instance in order to attract wETH liquidity which will benefit both Aave DAO and Lido users.


Proposal creation

Transaction: https://etherscan.io/tx/0x7009d9a458b2c864729ba25ab6f864a20c27c3b70fa0a6363293ee7ab77ce5fb

- proposalId: 133
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- accessLevel: 1
- ipfsHash: 0x7b95ebeac91f0a0f3eef3670e0c9466086f270b56f662a5a0fec0457a0b5dab5

createProposal() parameters

{
  "payloads": [
    {
      "chain": "1",
      "accessLevel": "1",
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5",
      "payloadId": "147"
    },
  ],
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3",
  "ipfsHash": "0x7b95ebeac91f0a0f3eef3670e0c9466086f270b56f662a5a0fec0457a0b5dab5"
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/133.md

Payload reports


Technical analysis

We have verified that the payload activates the ethereumLido v3.1 instance with the following:

  • Set Ethereum V3 Incentives Controller to manage Ethereum Lido incentives.

  • Register Ethereum Lido instance in Ethereum V3 PoolAddressesProviderRegistry.

  • Set Ethereum PROTOCOL_GUARDIAN as temporary Pool Admin of Ethereum Lido instance.

  • Set Risk Admin to CapsPlusRisk Steward contract.

  • Set ACI as emission admin of WETH and aWETH rewards for LM program.

Add eMode category of ETH correlated with the following parameters:

  • LTV: 93.5%

  • LT: 95.5%

  • Liquidation Bonus: 1%

The following assets are added with the parameters which are specified in the IPFS and forum:

  • wstETH

  • wETH

We have also verified that 15,000 GHO are sent as service fee for Catapulta deployment service provider.


The proposal is consistent with the description on both Snapshot and the governance forum.


Certora 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.

✅ Certora reviewed the procedure followed to submit the proposal.