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v3-138-aave-v3-avalanche-risk-parameter-updates-sAVAX.md

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Proposal 138. Risk Parameter Updates - sAVAX on Aave V3 Avalanche.


Voting link

https://vote.onaave.com/proposal/?proposalId=138


Governance forum discussion

https://governance.aave.com/t/arfc-chaos-labs-risk-parameter-updates-savax-on-aave-v3-avalanche-07-16-2024/18277


Payloads


Certora analysis


Proposal types

🔧 📊 configuration update


Context

This proposal modifies the LTV and LT of sAVAX on Avalanche-V3 market in order to allow Aave to enhance user's capital efficiency.


Proposal creation

Transaction: https://etherscan.io/tx/0x665bc588059879befdd9822250325f94528b675bfe7cdae65b1bc5dcef7f15a8

- proposalId: 138
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- accessLevel: 1
- ipfsHash: 0xa8c3145a62879685b5569daf860b7d65dd1c9affc796c90c26498f95646b9a98

createProposal() parameters

{
  "payloads": [
    {
      "chain": "43114",
      "accessLevel": "1",
      "payloadsController": "0x1140CB7CAfAcC745771C2Ea31e7B5C653c5d0B80",
      "payloadId": "43"
    },
  ],
  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3",
  "ipfsHash": "0xa8c3145a62879685b5569daf860b7d65dd1c9affc796c90c26498f95646b9a98"
}

Aave Seatbelt report

Proposal report

https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/138.md

Payload reports


Technical analysis

We have verified that the payload modifies following parameters of sAVAX on Avalanche-V3:

  • LTV: 30% -> 40%

  • LT: 40% -> 45%


The proposal is consistent with the description on both Snapshot and the governance forum.


Certora 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.

✅ Certora reviewed the procedure followed to submit the proposal.