Add new gho-aave-steward on prime instance (#615)

* added new gho-aave-steward on prime instance * updated redme * added some comments * used constant for council address * added more tests * removed unused import * added more tests * BTC UOptiminal Rate update * Revert "BTC UOptiminal Rate update" This reverts commit d64400c. * test script and md updated * Update src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance.md Co-authored-by: Harsh Pandey <[email protected]> * restricted gho on risk steward * import source bugfix --------- Co-authored-by: Harsh Pandey <[email protected]>
bgd-labs · Feb 25, 2025 · b3b4adb · b3b4adb · sakulstra · Feb 25, 2025
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diff --git a/...rdOnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.sol b/...rdOnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.sol
@@ -0,0 +1,31 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {IProposalGenericExecutor} from 'aave-helpers/src/interfaces/IProposalGenericExecutor.sol';
+import {AaveV3EthereumLido, AaveV3EthereumLidoAssets} from 'aave-address-book/AaveV3EthereumLido.sol';
+import {IRiskSteward} from './IRiskSteward.sol';
+
+/**
+ * @title Extend GHO Steward on Aave Prime Instance
+ * @author TokenLogic
+ * - Snapshot: https://snapshot.org/#/s:aave.eth/proposal/0xf28190a683eff1dc246924f150a724dcf29b23dd40971df38d20fc6cf301fbe1
+ * - Discussion: https://governance.aave.com/t/arfc-extend-gho-steward-on-aave-prime-instance/20598
+ */
+contract AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129 is
+  IProposalGenericExecutor
+{
+  // https://etherscan.io/address/0x5C905d62B22e4DAa4967E517C4a047Ff6026C731
+  address public constant NEW_GHO_AAVE_STEWARD = 0x5C905d62B22e4DAa4967E517C4a047Ff6026C731;
+  function execute() external {
+    // Gho Aave Steward
+    AaveV3EthereumLido.ACL_MANAGER.grantRole(
+      AaveV3EthereumLido.ACL_MANAGER.RISK_ADMIN_ROLE(),
+      NEW_GHO_AAVE_STEWARD
+    );
+
+    IRiskSteward(AaveV3EthereumLido.RISK_STEWARD).setAddressRestricted(
+      AaveV3EthereumLidoAssets.GHO_UNDERLYING,
+      true
+    );
+  }
+}
diff --git a/...OnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.t.sol b/...OnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.t.sol
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+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {IGhoAaveSteward} from 'src/interfaces/IGhoAaveSteward.sol';
+import {AaveV3EthereumLido, AaveV3EthereumLidoAssets} from 'aave-address-book/AaveV3EthereumLido.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+import {IOwnable} from 'aave-address-book/common/IOwnable.sol';
+import {IDefaultInterestRateStrategyV2} from 'aave-address-book/AaveV3.sol';
+
+import {IRiskSteward} from './IRiskSteward.sol';
+import {ReserveConfiguration} from 'aave-v3-origin/contracts/protocol/libraries/configuration/ReserveConfiguration.sol';
+import {DataTypes} from 'aave-v3-origin/contracts/protocol/libraries/types/DataTypes.sol';
+
+import 'forge-std/Test.sol';
+import {ProtocolV3TestBase, ReserveConfig} from 'aave-helpers/src/ProtocolV3TestBase.sol';
+import {AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129} from './AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.sol';
+
+/**
+ * @dev Test for AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129
+ * command: FOUNDRY_PROFILE=mainnet forge test --match-path=src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.t.sol -vv
+ */
+contract AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129_Test is
+  ProtocolV3TestBase
+{
+  using ReserveConfiguration for DataTypes.ReserveConfigurationMap;
+  AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129 internal proposal;
+  // https://etherscan.io/address/0x5C905d62B22e4DAa4967E517C4a047Ff6026C731
+  IGhoAaveSteward public constant NEW_GHO_AAVE_STEWARD =
+    IGhoAaveSteward(0x5C905d62B22e4DAa4967E517C4a047Ff6026C731);
+
+  // The address of council
+  // https://etherscan.io/address/0x8513e6F37dBc52De87b166980Fa3F50639694B60
+  address public constant RISK_COUNCIL = 0x8513e6F37dBc52De87b166980Fa3F50639694B60;
+
+  function setUp() public {
+    vm.createSelectFork(vm.rpcUrl('mainnet'), 21738505);
+    proposal = new AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129();
+  }
+
+  function testValidate() public {
+    assertFalse(
+      AaveV3EthereumLido.ACL_MANAGER.hasRole(
+        AaveV3EthereumLido.ACL_MANAGER.RISK_ADMIN_ROLE(),
+        address(NEW_GHO_AAVE_STEWARD)
+      )
+    );
+    assertFalse(
+      IRiskSteward(AaveV3EthereumLido.RISK_STEWARD).isAddressRestricted(
+        AaveV3EthereumLidoAssets.GHO_UNDERLYING
+      )
+    );
+    assertEq(address(proposal.NEW_GHO_AAVE_STEWARD()), address(NEW_GHO_AAVE_STEWARD));
+    assertEq(IOwnable(address(NEW_GHO_AAVE_STEWARD)).owner(), GovernanceV3Ethereum.EXECUTOR_LVL_1);
+    assertEq(
+      NEW_GHO_AAVE_STEWARD.POOL_ADDRESSES_PROVIDER(),
+      address(AaveV3EthereumLido.POOL_ADDRESSES_PROVIDER)
+    );
+    assertEq(
+      NEW_GHO_AAVE_STEWARD.POOL_DATA_PROVIDER(),
+      address(AaveV3EthereumLido.AAVE_PROTOCOL_DATA_PROVIDER)
+    );
+    assertEq(NEW_GHO_AAVE_STEWARD.GHO_TOKEN(), AaveV3EthereumLidoAssets.GHO_UNDERLYING);
+    assertEq(NEW_GHO_AAVE_STEWARD.RISK_COUNCIL(), RISK_COUNCIL);
+    assertEq(
+      NEW_GHO_AAVE_STEWARD.getBorrowRateConfig(),
+      IGhoAaveSteward.BorrowRateConfig({
+        optimalUsageRatioMaxChange: 5_00,
+        baseVariableBorrowRateMaxChange: 5_00,
+        variableRateSlope1MaxChange: 5_00,
+        variableRateSlope2MaxChange: 5_00
+      })
+    );
+
+    executePayload(vm, address(proposal));
+
+    assertTrue(
+      AaveV3EthereumLido.ACL_MANAGER.hasRole(
+        AaveV3EthereumLido.ACL_MANAGER.RISK_ADMIN_ROLE(),
+        address(NEW_GHO_AAVE_STEWARD)
+      )
+    );
+    assertTrue(
+      IRiskSteward(AaveV3EthereumLido.RISK_STEWARD).isAddressRestricted(
+        AaveV3EthereumLidoAssets.GHO_UNDERLYING
+      )
+    );
+  }
+
+  function test_ghoAaveSteward_updateGhoBorrowCap() public {
+    executePayload(vm, address(proposal));
+
+    uint256 currentBorrowCap = _getGhoBorrowCap();
+    uint256 newBorrowCap = currentBorrowCap + 1;
+    vm.startPrank(RISK_COUNCIL);
+    IGhoAaveSteward(proposal.NEW_GHO_AAVE_STEWARD()).updateGhoBorrowCap(newBorrowCap);
+    assertEq(_getGhoBorrowCap(), newBorrowCap);
+  }
+
+  function test_ghoAaveSteward_updateGhoSupplyCap() public {
+    uint256 configValue = 830948836238514615306439858845646848;
+    vm.mockCall(
+      address(AaveV3EthereumLido.POOL),
+      abi.encodeWithSelector(AaveV3EthereumLido.POOL.getConfiguration.selector),
+      abi.encode(configValue)
+    );
+
+    uint256 currentSupplyCap = _getGhoSupplyCap();
+    assertEq(currentSupplyCap, 10);
+    uint256 newSupplyCap = currentSupplyCap + 1;
+
+    executePayload(vm, address(proposal));
+
+    IGhoAaveSteward steward = IGhoAaveSteward(proposal.NEW_GHO_AAVE_STEWARD());
+
+    vm.startPrank(RISK_COUNCIL);
+    steward.updateGhoSupplyCap(newSupplyCap);
+    vm.stopPrank();
+
+    vm.clearMockedCalls();
+
+    assertEq(_getGhoSupplyCap(), newSupplyCap);
+  }
+
+  function test_ghoAaveSteward_revertsChangeOverMax() public {
+    executePayload(vm, address(proposal));
+
+    uint256 currentSupplyCap = _getGhoSupplyCap();
+    assertEq(currentSupplyCap, 20000000);
+    uint256 newSupplyCap = 2 * currentSupplyCap + 1;
+
+    IGhoAaveSteward steward = IGhoAaveSteward(proposal.NEW_GHO_AAVE_STEWARD());
+
+    // Can't update supply cap even by 1 since it's 0, and 100% of 0 is 0
+    vm.expectRevert('INVALID_SUPPLY_CAP_UPDATE');
+    vm.startPrank(RISK_COUNCIL);
+    steward.updateGhoSupplyCap(newSupplyCap);
+    vm.stopPrank();
+  }
+
+  function test_ghoAaveSteward_updateGhoBorrowRate() public {
+    executePayload(vm, address(proposal));
+
+    address rateStrategyAddress = AaveV3EthereumLido
+      .AAVE_PROTOCOL_DATA_PROVIDER
+      .getInterestRateStrategyAddress(AaveV3EthereumLidoAssets.GHO_UNDERLYING);
+
+    IDefaultInterestRateStrategyV2.InterestRateData
+      memory mockResponse = IDefaultInterestRateStrategyV2.InterestRateData({
+        optimalUsageRatio: 100,
+        baseVariableBorrowRate: 100,
+        variableRateSlope1: 100,
+        variableRateSlope2: 100
+      });
+    vm.mockCall(
+      rateStrategyAddress,
+      abi.encodeWithSelector(
+        IDefaultInterestRateStrategyV2(rateStrategyAddress).getInterestRateDataBps.selector,
+        AaveV3EthereumLidoAssets.GHO_UNDERLYING
+      ),
+      abi.encode(mockResponse)
+    );
+
+    IDefaultInterestRateStrategyV2.InterestRateData memory currentRates = _getGhoBorrowRates();
+    uint16 newOptimalUsageRatio = currentRates.optimalUsageRatio + 1;
+    uint32 newBaseVariableBorrowRate = currentRates.baseVariableBorrowRate + 1;
+    uint32 newVariableRateSlope1 = currentRates.variableRateSlope1 - 1;
+    uint32 newVariableRateSlope2 = currentRates.variableRateSlope2 - 1;
+
+    vm.startPrank(RISK_COUNCIL);
+    IGhoAaveSteward(proposal.NEW_GHO_AAVE_STEWARD()).updateGhoBorrowRate(
+      newOptimalUsageRatio,
+      newBaseVariableBorrowRate,
+      newVariableRateSlope1,
+      newVariableRateSlope2
+    );
+    vm.stopPrank();
+
+    vm.clearMockedCalls();
+
+    assertEq(_getOptimalUsageRatio(), newOptimalUsageRatio);
+    assertEq(_getBaseVariableBorrowRate(), newBaseVariableBorrowRate);
+    assertEq(_getVariableRateSlope1(), newVariableRateSlope1);
+    assertEq(_getVariableRateSlope2(), newVariableRateSlope2);
+  }
+
+  // Helpers
+
+  function _getGhoBorrowCap() internal view returns (uint256) {
+    DataTypes.ReserveConfigurationMap memory configuration = AaveV3EthereumLido
+      .POOL
+      .getConfiguration(AaveV3EthereumLidoAssets.GHO_UNDERLYING);
+    return configuration.getBorrowCap();
+  }
+
+  function _getGhoSupplyCap() internal view returns (uint256) {
+    DataTypes.ReserveConfigurationMap memory configuration = AaveV3EthereumLido
+      .POOL
+      .getConfiguration(AaveV3EthereumLidoAssets.GHO_UNDERLYING);
+    return configuration.getSupplyCap();
+  }
+
+  function _getOptimalUsageRatio() internal view returns (uint16) {
+    IDefaultInterestRateStrategyV2.InterestRateData memory currentRates = _getGhoBorrowRates();
+    return currentRates.optimalUsageRatio;
+  }
+
+  function _getBaseVariableBorrowRate() internal view returns (uint32) {
+    IDefaultInterestRateStrategyV2.InterestRateData memory currentRates = _getGhoBorrowRates();
+    return currentRates.baseVariableBorrowRate;
+  }
+
+  function _getVariableRateSlope1() internal view returns (uint32) {
+    IDefaultInterestRateStrategyV2.InterestRateData memory currentRates = _getGhoBorrowRates();
+    return currentRates.variableRateSlope1;
+  }
+
+  function _getVariableRateSlope2() internal view returns (uint32) {
+    IDefaultInterestRateStrategyV2.InterestRateData memory currentRates = _getGhoBorrowRates();
+    return currentRates.variableRateSlope2;
+  }
+
+  function _getGhoBorrowRates()
+    internal
+    view
+    returns (IDefaultInterestRateStrategyV2.InterestRateData memory)
+  {
+    address rateStrategyAddress = AaveV3EthereumLido
+      .AAVE_PROTOCOL_DATA_PROVIDER
+      .getInterestRateStrategyAddress(AaveV3EthereumLidoAssets.GHO_UNDERLYING);
+    return
+      IDefaultInterestRateStrategyV2(rateStrategyAddress).getInterestRateDataBps(
+        AaveV3EthereumLidoAssets.GHO_UNDERLYING
+      );
+  }
+
+  function assertEq(
+    IGhoAaveSteward.BorrowRateConfig memory a,
+    IGhoAaveSteward.BorrowRateConfig memory b
+  ) internal pure {
+    assertEq(a.optimalUsageRatioMaxChange, b.optimalUsageRatioMaxChange);
+    assertEq(a.baseVariableBorrowRateMaxChange, b.baseVariableBorrowRateMaxChange);
+    assertEq(a.variableRateSlope1MaxChange, b.variableRateSlope1MaxChange);
+    assertEq(a.variableRateSlope2MaxChange, b.variableRateSlope2MaxChange);
+    assertEq(abi.encode(a), abi.encode(b)); // sanity check
+  }
+}
diff --git a/...Lido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance.md b/...Lido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance.md
@@ -0,0 +1,50 @@
+---
+title: "Extend GHO Steward on Aave Prime Instance"
+author: "TokenLogic"
+discussions: "https://governance.aave.com/t/arfc-extend-gho-steward-on-aave-prime-instance/20598"
+snapshot: "https://snapshot.org/#/s:aave.eth/proposal/0xf28190a683eff1dc246924f150a724dcf29b23dd40971df38d20fc6cf301fbe1"
+---
+
+## Simple Summary
+
+This publication proposes extending the GHO Aave Steward to the GHO market on the Prime instance.
+
+## Motivation
+
+In response to the expanding GHO ecosystem and following the upgrade of the [GHO Stewards](https://governance.aave.com/t/arfc-gho-steward-v2-upgrade/19116) to a more modular approach at the end of 2024, this publication proposes extending the GHO Aave Steward role to the GHO Reserve on the Prime instance of Aave v3 on Ethereum.
+
+Similar to how the GHO reserve on Arbitrum, which already has a GHO Aave Steward implementation, the role will be extended to the Prime instance of Aave v3.
+
+## Specification
+
+A new [GhoAaveSteward](https://etherscan.io/address/0x5C905d62B22e4DAa4967E517C4a047Ff6026C731) was deployed, with the Prime configuration:
+
+Owner: [0x5300A1a15135EA4dc7aD5a167152C01EFc9b192A](https://etherscan.io/address/0x5300A1a15135EA4dc7aD5a167152C01EFc9b192A)
+
+Addresses Provider: [0xcfBf336fe147D643B9Cb705648500e101504B16d](https://etherscan.io/address/0xcfBf336fe147D643B9Cb705648500e101504B16d)
+
+Pool Data Provider: [0x08795CFE08C7a81dCDFf482BbAAF474B240f31cD](https://etherscan.io/address/0x08795CFE08C7a81dCDFf482BbAAF474B240f31cD)
+
+Gho Token: [0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f](https://etherscan.io/address/0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f)
+
+Risk Council: [0x8513e6F37dBc52De87b166980Fa3F50639694B60](https://etherscan.io/address/0x8513e6F37dBc52De87b166980Fa3F50639694B60)
+
+BorrowRateConfig:
+
+- UOptimal Max Change: 500
+- Base Variable Rate Max Change: 500
+- Slope 1 Max Change: 500
+- Slope 2 Max Change: 500
+
+Then, the GhoAaveSteward is to be granted the following permissions: `RiskAdmin` in Aave V3 Ethereum Prime Pool
+
+## References
+
+- Implementation: [AaveV3EthereumLido](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.sol)
+- Tests: [AaveV3EthereumLido](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.t.sol)
+- [Snapshot](https://snapshot.org/#/s:aave.eth/proposal/0xf28190a683eff1dc246924f150a724dcf29b23dd40971df38d20fc6cf301fbe1)
+- [Discussion](https://governance.aave.com/t/arfc-extend-gho-steward-on-aave-prime-instance/20598)
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
diff --git a/...do_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance_20250129.s.sol b/...do_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance_20250129.s.sol
@@ -0,0 +1,60 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/src/GovV3Helpers.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+import {EthereumScript} from 'solidity-utils/contracts/utils/ScriptUtils.sol';
+import {AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129} from './AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129.sol';
+
+/**
+ * @dev Deploy Ethereum
+ * deploy-command: make deploy-ledger contract=src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance_20250129.s.sol:DeployEthereum chain=mainnet
+ * verify-command: FOUNDRY_PROFILE=mainnet npx catapulta-verify -b broadcast/ExtendGHOStewardOnAavePrimeInstance_20250129.s.sol/1/run-latest.json
+ */
+contract DeployEthereum is EthereumScript {
+  function run() external broadcast {
+    // deploy payloads
+    address payload0 = GovV3Helpers.deployDeterministic(
+      type(AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129).creationCode
+    );
+
+    // compose action
+    IPayloadsControllerCore.ExecutionAction[]
+      memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
+    actions[0] = GovV3Helpers.buildAction(payload0);
+
+    // register action at payloadsController
+    GovV3Helpers.createPayload(actions);
+  }
+}
+
+/**
+ * @dev Create Proposal
+ * command: make deploy-ledger contract=src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance_20250129.s.sol:CreateProposal chain=mainnet
+ */
+contract CreateProposal is EthereumScript {
+  function run() external {
+    // create payloads
+    PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);
+
+    // compose actions for validation
+    IPayloadsControllerCore.ExecutionAction[]
+      memory actionsEthereum = new IPayloadsControllerCore.ExecutionAction[](1);
+    actionsEthereum[0] = GovV3Helpers.buildAction(
+      type(AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance_20250129).creationCode
+    );
+    payloads[0] = GovV3Helpers.buildMainnetPayload(vm, actionsEthereum);
+
+    // create proposal
+    vm.startBroadcast();
+    GovV3Helpers.createProposal(
+      vm,
+      payloads,
+      GovernanceV3Ethereum.VOTING_PORTAL_ETH_POL,
+      GovV3Helpers.ipfsHashFile(
+        vm,
+        'src/20250129_AaveV3EthereumLido_ExtendGHOStewardOnAavePrimeInstance/ExtendGHOStewardOnAavePrimeInstance.md'
+      )
+    );
+  }
+}