265-aave-v3-arbitrum-caps-update.md

Proposal 265. Aave v3 Arbitrum - wstETH supply cap update

Voting link

https://app.aave.com/governance/proposal/?proposalId=265

Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-stewards-increase-caps-reth-and-wsteth-on-v3-arbitrum/13817

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the supply cap of wstETH on Aave v3 Arbitrum.

Proposal creation

Transaction: https://etherscan.io/tx/0xc2fa31b277f5c1aad6fdf2010ffe41e754657a0662854e814f46be5526d8cedc

- id: 265
- creator: 0x329c54289ff5d6b7b7dae13592c6b1eda1543ed4
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xd1b3e25fd7c8ae7caddc6f71b461b79cd4ddcfa3]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000134c50556de1a83dd947c9460a58d8d60a289cea]
- withDelegatecalls: [true]
- startBlock: 17635942
- endBlock: 17655142
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xadc8fa84ad5b2a4a732872d60b266be51541101797f024b1e9442b21d8093d47

Aave Seatbelt reports

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/265.md

Arbitrum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/265_Arbitrum_pending_0.md

Technical analysis

We have verified the proposal uses correctly the Aave cross-chain governance system to communicate with Arbitrum.

From a technical perspective, we have verified the proposal payload correctly uses the BGD's Aave Config Engine of Aave v3 Arbitrum, in this case, to update the supply cap of wstETH the following way:

• Supply cap: 18'750 wstETH -> 30'000 wstETH

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.