v3-87-aave-v2+v3-multichain-risk-parameters-for-DAI-update.md

Proposal 87. Risk Parameters for DAI Update.

Voting link

https://vote.onaave.com/proposal/?proposalId=87

Governance forum discussion

https://governance.aave.com/t/arfc-risk-parameters-for-dai-update/17211

Payloads

• Ethereum V2- proposal payloads

• Ethereum V3- proposal payloads

• Polygon V2- proposal payloads

• Polygon V3- proposal payloads

• Avalanche V2- proposal payloads

• Avalanche V3- proposal payloads

• Optimism V3- proposal payloads

• Arbitrum V3- proposal payloads

• Metis V3- proposal payloads

• Gnosis V3- proposal payloads

Certora analysis

Proposal types

🔧 📊 configuration update

Context

This proposal decreases the liquidation threshold and the LTV of DAI, sDAI on Aave-V3 and Aave-V2 chains due to concerns regarding the inherent risk nature of DAI as collateral.

Proposal creation

Transaction: https://etherscan.io/tx/0xf860b15d7ee9fe15d3c6a75f50c280583ca2cc95382ef4cffe34d0a7e54b6364

- proposalId: 87
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0xf5dd9c4b10ba88e184eec2ae80e8ec338f0b11ad48a0ff920119fbf1592115a7

createProposal() parameters

{
  "payloads": [ 
    { 
      "chain": "1", 
      "accessLevel": "1", 
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
      "payloadId": "112" 
    }, 
    { 
      "chain": "137", 
      "accessLevel": "1", 
      "payloadsController": "0x401B5D0294E23637c18fcc38b1Bca814CDa2637C", 
      "payloadId": "58" 
    }, 
    { 
      "chain": "43114", 
      "accessLevel": "1", 
      "payloadsController": "0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80", 
      "payloadId": "29" 
    }, 
    { 
      "chain": "10", 
      "accessLevel": "1", 
      "payloadsController": "0x0E1a3Af1f9cC76A62eD31eDedca291E63632e7c4", 
      "payloadId": "28" 
    }, 
    { 
      "chain": "42161", 
      "accessLevel": "1", 
      "payloadsController": "0x89644CA1bB8064760312AE4F03ea41b05dA3637C", 
      "payloadId": "26" 
    }, 
    { 
      "chain": "1088", 
      "accessLevel": "1", 
      "payloadsController": "0x2233F8A66A728FBa6E1dC95570B25360D07D5524", 
      "payloadId": "17" 
    }, 
    { 
      "chain": "100", 
      "accessLevel": "1", 
      "payloadsController": "0x9A1F491B86D09fC1484b5fab10041B189B60756b", 
      "payloadId": "15" 
    }, 
  ], 
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
  "ipfsHash": "0xf5dd9c4b10ba88e184eec2ae80e8ec338f0b11ad48a0ff920119fbf1592115a7" 
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/87.md

Payload reports

• Ethereum - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/112.md

• Polygon - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/137/0x401B5D0294E23637c18fcc38b1Bca814CDa2637C/58.md

• Avalanche - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/43114/0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80/29.md

• Optimism - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/10/0x0E1a3Af1f9cC76A62eD31eDedca291E63632e7c4/28.md

• Arbitrum - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/42161/0x89644CA1bB8064760312AE4F03ea41b05dA3637C/26.md

• Metis - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1088/0x2233F8A66A728FBa6E1dC95570B25360D07D5524/17_forge.md

• Gnosis - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/100/0x9A1F491B86D09fC1484b5fab10041B189B60756b/15.md

Technical analysis

We have verified that the payload decreases the liquidation threshold and the LTV of DAI, sDAI to the following parameters on all chains:

LTV: 63%

LT: 77%

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.