v3-89-aave-v2-multichain-reserve-factor-updates.md

Proposal 89. Ethereum + Avalanche v2 Reserve Factor Updates.

Voting link

https://vote.onaave.com/proposal/?proposalId=89

Governance forum discussion

https://governance.aave.com/t/arfc-ethereum-v2-reserve-factor-adjustment/16764/7

https://governance.aave.com/t/arfc-avalanche-v2-reserve-factor-adjustment/17040/3

Payloads

• Ethereum - proposal payloads

• Avalanche - proposal payloads

Certora analysis

Proposal types

🔧 📊 configuration update

Context

This proposal increases the reserve factors of multiple assets on Aave-V2-Ethereum and Aave-V2-Avalanche by 5% up to 99.99% in order to encouraging users to migrate from v2 to v3.

Proposal creation

Transaction: https://etherscan.io/tx/0x7c7f349dc6f76b0f0c8f6139282ae72dd169f9d535d31430f24f32b22c23e1a1

- proposalId: 89
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- accessLevel: 1
- ipfsHash: 0xdafd69363854d3410239f3b9e3fa36a0e977a413e55dcf4e4d21c615173a2890

createProposal() parameters

{
  "payloads": [ 
    { 
      "chain": "1", 
      "accessLevel": "1", 
      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
      "payloadId": "113" 
    }, 
    { 
      "chain": "43114", 
      "accessLevel": "1", 
      "payloadsController": "0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80", 
      "payloadId": "30" 
    }, 
  ], 
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
  "ipfsHash": "0xdafd69363854d3410239f3b9e3fa36a0e977a413e55dcf4e4d21c615173a2890" 
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/89.md

Payload reports

• Ethereum V2 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/113.md

• Avalanche V2 - https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/43114/0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80/30.md

Technical analysis

We have verified that the payload modifies the reserve factor of the following tokens to the following values:

• Ethereum V2:

  DAI: 45.00%

  FRAX: 50.00%

  GUSD: 40.00%

  LINK: 50.00%

  LUSD: 45.00%

  sUSD: 50.00%

  USDC: 45.00%

  USDP: 40.00%

  USDT: 45.00%

  WBTC: 50.00%

  WETH: 45.00%

• Avalanche V2:

  DAIe: 40.00%

  USDCe: 40.00%

  USDTe: 40.00%

  WAVAX: 40.00%

  WBTCe: 45.00%

  WETHe: 40.00%

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.