322-aave-v3-ethereum-mkr-risk-params-update.md

Proposal 322. Aave v3 Ethereum - MKR risk parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=322

Governance forum discussion

https://governance.aave.com/t/arfc-borrowing-cap-expansion-request-mkr/14763

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the debt ceiling parameter of MKR on Aave v3 Ethereum.

Proposal creation

Transaction: https://etherscan.io/tx/0x03711d4d0e3e144d60db0d9db6b4c84d3124f91872b1850154b6e8c5fe5ce7e7

- id: 322
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xb2b657c137a7dfd12a0bf082a57fc28aeb49a64d]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 18148047
- endBlock: 18167247
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xfed24b2f6bfc4bc8ca9fd265840761c459af90169a4b00e29776a8afbd989d4c

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/322.md

Technical analysis

We have verified the proposal payload updates the following parameters on Aave v3 Ethereum, by using the BGD Config Engine:

MKR

• Debt ceiling: 2'500'000 USD -> 6'000'000 USD

The proposal is consistent with the discussions on the Aave governance forum.

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.