With the AIP for the activation of Aave on MegaETH imminently ready for creation today, we would like to share with the community an ad-hoc approach for performing this activation, previously used on other day-0 network activations (e.g. Plasma)
Given the high size of pre-approved caps for assets initially listed and the network being in its initial production phase, we think it is highly recommended, security-wise, to have a two-step process during activation:
The activation proposal itself will list all the expected assets, but with very limited interim caps (see Table).
Additionally, the activation proposal will authorise the Aave Protocol Guardian to, after the pool is active with limited caps and all systems and dependencies (assets themselves, oracles, bridges) triple checked by the technical SP (ourselves); increase the caps to the pre-approved levels.
This realistically can happen within the following 24h after the AIP activation itself, unless any type of problem is detected.
Asset
Interim supply cap
Final supply cap
Interim borrow cap
Final borrow cap
WETH
20
50’000
10
46’000
BTCb
2
120
1
1
USDT0
50’000
50’000’000
20’000
46’000’000
USDm
50’000
100’000’000
20’000
95’000’000
wstETH
20
12’000
1
1
wrsETH
20
10’000
1
1
ezETH
20
10’000
1
1
This approach allows the DAO to stay conservative from a security perspective, without meaningfully impacting the activation timing.
The market is launching with conservative caps during the initial launch phase. Technical service providers are now completing their post-launch reviews. Once those reviews are done, the Aave Protocol Guardian will raise caps to the pre-approved levels.
The initial listings are WETH, BTCb, USDT0, USDm, wstETH, wrsETH, and ezETH. Deployment addresses are available in the aave-address-book.
@AaveLabs how come that the frontend has not been prepared for the launch of Megaeth and eMode 3.6? This instance in its current form is basically unusable. No looping, leverage, etc. possible right now. And eMode 3.6 has been introduced last September…
Do we have to expect the same for the mantle deployment which passed a couple hours ago?
As mentioned above, a minor display issue occurred after the most recent deployment. It affected the displayed assets available to borrow in some cases and it is now resolved.
aave.com has operated for several years, serving millions of users across 20+ active markets. We test all deployments, but as with anything small issues can arise, which then need to be fixed. That is a routine part of actively managing any piece of software or web application.
