BGD. Aave v3 Ethereum. New deployment vs Aave v2 Upgrade

Development
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We would like to update the community on the status of the Aave v3 Ethereum release.

  • The updates on the codebase of Aave v3.0.1 have been finished.
  • The update/payloads of Aave v3.0.1 periphery are ready. We will be proceeding with the activation via the required proposals on the existing v3 this week (targeting tomorrow).
  • Given its presence on the initial set of assets to be listed, we have produced an oracle adapter contract for wstETH.
  • Given the number of assets to be listed at the same time on v3 Ethereum, we have been working on a generalized listing engine for Aave v3.0.1 instances, that will simplify the procedure not only in this case but in following listings of any contributor. We will be publishing it this week.
  • Security procedures can be considered finished too, with the different reports to be published during the week. @AaveLabs has ordered an extra audit by Peckshield, which has been successfully finished too.
  • We have coordinated with @AaveLabs for the testing/QA on the Aave IPFS interface, being successful at the moment.
  • The process of release has been delayed, because, even with the technical aspects nailed down, Gauntlet stopped the process of initial risk parameters recommendations, requiring the other risk provider of the community (@ChaosLabs ) to take over the task. We have coordinated with Chaos, and they will have an update for the community soon.
  • We have been working on a migration tool Aave v2 → v3, that if approved by @AaveLabs , will be introduced in the Aave IPFS interfaces, both for Aave v2->v3 Ethereum, and Avalanche/Polygon.
    Some last points need to be addressed, but ideally, the tool could be launched even prior to Aave v3 Ethereum, for users of Polygon/Avalanche to use. We will release a more extense explainer on the tool soon.

In summary, all technical aspects including security reports are to be finished during the week. The lack of initial risk parameters recommendations has delayed slightly the timeline, but on the positive side has given some extra room to have everything around more solid.

Given that is not realistic to have a Snapshot approval on initial risk parameters before the end of the week, we advocate rolling out Aave v3 Ethereum beginning of January 2023, given that doesn’t seem to be reasonable to introduce important decisions for the community the last week of the year 2022.

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