339-aave-v3-polygon-risk-params-update.md

Proposal 339. Aave v3 Polygon - stMATIC/MATICx risk parameters update

Voting link

https://app.aave.com/governance/proposal/?proposalId=339

Governance forum discussion

https://governance.aave.com/t/arfc-gauntlet-recommendation-to-lower-stmatic-maticx-non-emode-lt/14859

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal reduces the Liquidation Threshold (LT) and LTV of stMATIC and MATICx on Aave v3 Polygon, on non-eMode.

Proposal creation

Transaction: https://etherscan.io/tx/0xcb19a24bca582125febad6d65158d228bc68a2e5f6142446044038f53920a02f

- id: 339
- creator: 0x683a4f9915d6216f73d6df50151725036bd26c02
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0x158a6bc04f0828318821bae797f50b0a1299d45b]
- values: [0]
- signatures: [execute(address)]
- calldatas: [0x000000000000000000000000ff374ad1be52ff54cf576586253a113d3f48d4b7]
- withDelegatecalls: [true]
- startBlock: 18333141
- endBlock: 18352341
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xe0ac7fa98908e574dbeef273a99959111303e8ee4644f476a12d9087e73bd898

Aave Seatbelt report

Ethereum

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/339.md

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/339_Polygon_pending_0.md

Technical analysis

We have verified the proposal payload properly doing the following updates on Aave v3 Polygon, via the Config Engine:

stMATIC

• LT: 65% -> 60%
• LTV: 50% -> 45%

MATICx

• LT: 67% -> 62%
• LTV: 58% -> 45%

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.