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Proposal 206. Aave v3 Optimism - Risk params update


This proposal is a repetition of 205, this time with the correct description

Voting link

https://app.aave.com/governance/proposal/?proposalId=206


Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-aave-v3-optimism-2023-03-22/12421


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates the risk parameters of WBTC and DAI on Aave v3 Optimism.


Proposal creation

Transaction: https://etherscan.io/tx/0xfb64bc859fc2afe840bc82d440dbd7000b730d52e8e6db75d4610d9f911c30b6

- id: 206
- creator: 0xbc540e0729b732fb14afa240aa5a047ae9ba7df0
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x5f5c02875a8e9b5a26fbd09040abcfdeb2aa6711]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000c4421eaf9087aa0b8f453c130dc024c3eb3a34d7]
- withDelegatecalls: [true]
- startBlock: 17075855
- endBlock: 17095055
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xd02a54834d79d18546c749459d31a370cc6d51bfe45cb72dc2bb37abce897966

Aave Seatbelt reports

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/206.md

Optimism

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/206_optimism_12_0.md


Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Optimism.

From a technical perspective, we have verified the proposal payload correctly uses the new BGD's Aave Config Engine of Aave v3 Optimism, in this case, to update the following risk parameters:

  • WBTC:
    • LTV: 70% -> 73%
    • Liquidation Threshold: 75% -> 78%
    • Liquidation Bonus: 9.4% -> 8.5%
  • DAI:
    • LTV: 75% -> 78%
    • Liquidation Threshold: 80% -> 83

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.