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257-aave-v3-optimism-create-ETH-emode.md

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Proposal 257. Aave v3 Optimism - create ETH-correlated e-mode category


Voting link

https://app.aave.com/governance/proposal/?proposalId=257


Governance forum discussion

https://governance.aave.com/t/arfc-optimism-create-eth-e-mode/13144


BGD analysis


Proposal types

⚡ emode


Context

This proposal creates the ETH-correlated e-mode category on Aave v3 Optimism, and adds WETH and wstETH to it.


Proposal creation

Transaction: https://etherscan.io/tx/0xa682f386d1b9e24ad353091b328f9c73be55e176ac2d0cdb8a172f0c8dabaccf

- id: 257
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x5f5c02875a8e9b5a26fbd09040abcfdeb2aa6711]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x00000000000000000000000080cb7e9e015c5331bf34e06de62443d070fd6654]
- withDelegatecalls: [true]
- startBlock: 17593463
- endBlock: 17612663
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xd5edeaa37f402f3fca8190927699519ef5a8b81285aca97a276f871d8d2ae201

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/257.md

Optimism

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/257_Optimism_pending_0.md


Technical analysis

We have verified the proposal interacts correctly with the Aave cross-chain governance system, in its connection with Optimism.

Regarding the proposal payload, we have verified it does the following:

First, it creates a new ETH-correlated e-mode with the following specifications:

  • LTV: 90%
  • Liquidation Threshold: 93%
  • Liquidation Bonus: 1%
  • Id: 2

This is done by calling the setEModeCategory() function on the Aave v3 Optimism Pool Configurator contract.

After that, it adds to this new e-mode the eligible assets on Aave v3 Optimism: WETH and wstETH. This is done by calling the setAssetEModeCategory() function on the Aave v3 Optimism Pool Configurator too.


There is an inconsistency between the proposal payload and the description on AIP & forum: the Id suggested for the new e-mode category is 1, but it should be 2, as 1 already belongs to the stablecoins category. We can confirm the proposal payload correctly updates it to 2, not creating any clash of ids


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.