BGD. Aave <> ParaSwap fee claimer

Development
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Context

The Aave IPFS interface uses Paraswap for the Swap Collateral and Repay with collateral features.

In June 2022, Paraswap started distributing part of the positive slippage occurring on swaps back to the referrer, which in this case is the Aave protocol itself. The reward is not distributed automatically but has to be manually claimed by the eligible claimers.
In the current setup, the Aave governance Executor contracts and Guardians on the respective networks are the eligible claimers for all rewards on their respective networks.

The permissioned claim functions on the Paraswap FeeClaimer contract allow claiming fees to an arbitrary address. This means that claiming has to go through the governance process like any other governance-controlled contract.
While this was the only possible way at the time, this introduces a bit of unnecessary complexity for an action that realistically will never have any opposition (claiming tokens to the Aave Collector, no negative side effect).


Aave Paraswap fee claimer

Therefore, to simplify the process we present the AaveParaswapFeeClaimer.

The AaveParaswapClaimer is a permissionless contract that allows any address to claim rewards on behalf of the Aave protocol to the Aave Collector.

The contract offers 4 methods:

  • getClaimable(address asset) returns the claimable amount for a given asset.
  • batchGetClaimable(address[] memory assets) returns claimable amounts for given assets.
  • claimToCollector(IERC20 asset) claims all claimable of a given asset to the collector.
  • batchClaimToCollector(address[] memory assets) claims all claimable of given assets to the collector. This method has the same limitations as the batchWithdrawAllERC20 method on the IFeeClaimer interface; namely, it will revert when passing an asset with 0 claimable balance.

The AaveParaswapFeeClaimer was peer-reviewed and tested, but not audited by an external auditor. We consider this sufficient given the simplicity of the code and its simple flow of transfers (the target to receive funds is always a contract of the Aave protocol).


Next steps

We will create a Snapshot vote to get the approval of the community and, if this proposal finds support, the claimer will be deployed on all networks and a referrer change will be coordinated with the Paraswap team.

There are currently around ~70k$ in unclaimed Paraswap fees for the Aave protocol which could be claimed by the Aave governance. The repository contains contracts and scripts to facility the claiming process through governance.


References:

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We have created an Snapshot vote, starting tomorrow and lasting for 4 days, for the community to decide if the ParaSwap fee claimer should be deployed and activated.

Participate :ghost: https://snapshot.org/#/aave.eth/proposal/0x4fd357741900bfe62a863d1e3ec84fbf79bfebd5bdda3f66eee75b8845274b6d

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After a successful snapshot vote the AaveParaswapFeeClaimer was deployed via CREATE2 as 0x9abf798f5314BFd793A9E57A654BEd35af4A1D60 on all supported networks.

The Aave IPFS interface was updated to redirect fees to this address. As of today ~10k USD in positive slippage has accrued to the new claimers across all networks. These fees can now be claimed in a permissionless way.

For the previously accumulated fees (which currently are worth around ~100k$) they have to be claimed via governance or the Aave Guardian.

The governance payloads are already prepared on

and as there really won’t be any opposition, could be included in another proposal targeting treasury management, to reduce governance overhead.

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