v3-164-aave-v3-ethereumlido-wstETH-borrow-cap-reduction.md

Proposal 164. wstETH Borrow Cap Reduction.

Voting link

https://vote.onaave.com/proposal/?proposalId=164

Governance forum discussion

https://governance.aave.com/t/arfc-lido-instance-reduce-wsteth-borrow-cap/19016

Payloads

• Ethereum - proposal payloads

Certora analysis

Proposal types

🔧 📊 configuration update

Context

This proposal decreases wstETH borrow-cap from 12,000 to 100 on Aave-V3-EthereumLido in preparation for wstETH deposit incentives.

Proposal creation

Transaction: https://etherscan.io/tx/0x1afbb368e2ed70b1a819495e93c072db95a3bd9b6e867cd6f8279e0376548745

- proposalId: 164
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0xb3c587d4f09e9f879cf2b793b127c927522a4cb3eeb04623241916ea9ff5dae5

createProposal() parameters

{
  "payloads": [ 
    { 
      "chain": "1", 
      "accessLevel": "1", 
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
      "payloadId": "172" 
    }, 
  ], 
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
  "ipfsHash": "0xb3c587d4f09e9f879cf2b793b127c927522a4cb3eeb04623241916ea9ff5dae5" 
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/164.md

Payload reports

• Ethereum - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/172.md

Technical analysis

We have verified that the payload decreases wstETH borrow-cap on Aave-V3-EthereumLido from 12,000 wstETH to 100 wstETH.

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.