266-aave-v2-ethereum-reserve-factor-updates.md

Proposal 266. Aave v2 Ethereum - Reserve Factor updates

Voting link

https://app.aave.com/governance/proposal/?proposalId=266

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-incremental-reserve-factor-updates-aave-v2-ethereum/13766

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal increases the Reserve Factor parameter on multiple Aave v2 Ethereum assets, with the objective of incentivising migrations to Aave v3 Ethereum.

Proposal creation

Transaction: https://etherscan.io/tx/0xd7b02f15f580414a8aa86be7c5321ce340a7bf1392bfe95d060a4c981cc57156

- id: 266
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xf64c196f2cd0d00d280140a138674efbace18572]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 17635960
- endBlock: 17655160
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xa8ff0f61c45be32c48b093f1277da0531a6c24ca3b32f4d05cc6a5d80655a2d0

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/266.md

Technical analysis

We have verified the proposal payload properly changes the following Reserve Factors on Aave v2 Ethereum:

TUSD: 5% -> 25%

GUSD: 10% -> 15%

1INCH: 20% -> 25%

UNI: 20% -> 25%

WBTC: 20% -> 25%

LINK: 20% -> 25%

sUSD: 20% -> 25%

LUSD: 10% -> 15%

DAI: 10% -> 15%

FRAX: 20% -> 25%

USDP: 10% -> 15%

MKR: 20% -> 25%

USDC: 10% -> 15%

SNX: 35% -> 40%

WETH: 15% -> 20%

ENS: 20% -> 25%

CRV: 20% -> 25%

USDT: 10% -> 15%

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.