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190-aave-v3-multichain-caps-update.md

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Proposal 190. Aave v3 Ethereum, Arbitrum - update of supply caps


Voting link

https://app.aave.com/governance/proposal/?proposalId=190


Governance forum discussion

https://governance.aave.com/t/arc-gauntlet-recommendations-for-aave-link-and-weth-on-v3-arbitrum-2023-03-21/12394


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal updates supply caps on Aave v3 Ethereum and Arbitrum.


Proposal creation

Transaction: https://etherscan.io/tx/0x4cd3456f92f028f20fb45eb4b7e2141472d474654ae77fc11f558f3e2cdc236a

- id: 190
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x142dcaec322aaa25141b2597bf348487adbd596d,0x2e2b1f112c4d79a9d22464f0d345de9b792705f1]
- values: [0,0]
- signatures: [execute(),execute(address)]
- calldatas: [0x,0x0000000000000000000000004c68fda91bfb4683eab90017d9b76a99f2d77eed]
- withDelegatecalls: [true,true]
- startBlock: 16929484
- endBlock: 16948684
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xe95cda38231468aed501ed1d748b41f19a7888350fa5384cecf2dc76f8285351

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/190.md

Arbitrum

Aave Seatbelt doesn't support Arbitrum yet.


Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Arbitrum on the non-Ethereum interaction. The proposals payloads do the following:

Ethereum

This payload is correctly created with the new BGD's Aave Config Engine of Aave v3 Ethereum as target, doing the following changes:

  • rETH supply cap: 10'000 rETH -> 20'000 rETH
  • CRV supply cap: 62'500'000 CRV -> 51'000'000 CRV

Arbitrum

This payload is also correctly created with the new BGD's Aave Config Engine of Aave v3 Arbitrum as target, doing the following changes:

  • WETH supply cap: 35'280 WETH -> 45'000 WETH

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.