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405-aave-v3-polygon-wsteth-caps-update.md

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Proposal 405. Aave v3 Polygon - wstETH supply cap update


Voting link

https://app.aave.com/governance/proposal/?proposalId=405


Governance forum discussion

https://governance.aave.com/t/arfc-increase-supply-and-borrow-caps-at-100-utilization-december-2023/15754


BGD analysis


Proposal types

🔧 📊 params-update


Context

This proposal increases the supply cap of wstETH on Aave v3 Polygon.


Proposal creation

Transaction: https://etherscan.io/tx/0x1cf6abd70ff8f6633213af9e6379920948eff41548c700c7cc88c850ce0d9920

- id: 405
- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7]
- values: [0]
- signatures: [forwardPayloadForExecution((uint256,uint8,address,uint40))]
- calldatas: [0x00000000000000000000000000000000000000000000000000000000000000890000000000000000000000000000000000000000000000000000000000000001000000000000000000000000401b5d0294e23637c18fcc38b1bca814cda2637c0000000000000000000000000000000000000000000000000000000000000015]
- withDelegatecalls: [false]
- startBlock: 18789881
- endBlock: 18809081
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xfb4ad1c5102d089d7c69751f6decf435339e6f1be8d828e89f434976b2a55b69

Aave Seatbelt reports

Proposal report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/405.md

Payload report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/137/0x401B5D0294E23637c18fcc38b1Bca814CDa2637C/21.md


Technical analysis

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

wstETH

  • Supply cap: 3'450 wstETH -> 4'370 wstETH

The proposal is consistent with the description in 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.