Technical maintenance proposals

Development
83

a.DI/Governance. Enable support for Soneium


Simple Summary

Proposal to register the necessary Soneium adapters on a.DI, a technical prerequisite for an activation vote of Aave v3 Soneium.


Motivation

In order to be able to pass messages from Ethereum to Soneium via a.DI (Aave Delivery Infrastructure), it is necessary to at least have one valid adapter Ethereum → Soneium smart contract enabled in the system (native adapter).

The first case of message passing Ethereum → Soneium is the activation proposal for an Aave v3 Soneium pool, and consequently, to be able to execute on the Soneium side the payload, the Aave governance should approve in advance the a.DI adapters smart contracts.

This procedure mirrors the requirements of previous networks like ZkSync or Linea.


Specification

The proposal payload simply registers pre-deployed Soneium adapters (with the necessary configurations to communicate with the Soneium a.DI) on the Ethereum a.DI instance.

This is done by calling the enableBridgeAdapters() function on the Ethereum Cross-chain Controller smart contract.


The following are the configured adapters for the Ethereum → Soneium path.
The required confirmations on the path are 1 out of 1.

Network Soneium Native Adapter
Ethereum 0xe66973c4571F733CafEb1BDE1fa58Ff35416d901
Soneium 0x5698e43Ef1be85C68Dec568B5925dD5DB7903e39

The new a.DI deployments on Soneium network are as follows:

Contract Address
CrossChainController 0xD92b37a5114b33F668D274Fb48f23b726a854d6E
Granular Guardian 0xD8E6956718784B914740267b7A50B952fb516656


The new Aave Governance deployments on Soneium network are as follows:

Contract Address
PayloadsController 0x44D73D7C4b2f98F426Bf8B5e87628d9eE38ef0Cf
Executor Lvl 1 0x47aAdaAE1F05C978E6aBb7568d11B7F6e0FC4d6A
Governance Guardian 0x19CE4363FEA478Aa04B9EA2937cc5A2cbcD44be6
BGD Labs Guardian 0xdc62E0e65b2251Dc66404ca717FD32dcC365Be3A
84

We have created an on-chain AIP for this proposal.

Voting will start in approximately 24 hours, participate :ghost:
https://vote.onaave.com/proposal/?proposalId=309

85

Due to an unintended creation of the proposal using Ethereum as the voting network instead of the standard Polygon, we have cancelled 309 and re-created it with voting to be performed as usual on Polygon.

Voting will start in approximately 24 hours, participate :ghost:
https://vote.onaave.com/proposal/?proposalId=312

86

Reserves’ configuration maintenance


Simple Summary

This proposal aims to fix inconsistent/suboptimal configurations of different reserves across various pools.


Motivation

eModes

When Aave v3.2 went live, the existing eModes were just migrated to liquid eModes. What this means is that if an asset was flagged as e.g. eMode 1 on v3.2 it was enabled as borrowable and as collateral on eMode 1. This was done to not disrupt existing positions and also to isolate the upgrade from any configuration changes.

As some time has passed now, it is a good idea to disable unintended eMode configurations, namely, we propose to:

  • Deprecate stablecoin eModes by disabling all borrowable assets
  • Deprecated LSTs from being borrowable in the “correlated” eModes category

This will not have any effects on existing positions, but will prevent increased borrows of the disabled assets within the eMode.


Borrowable

Some assets that were originally listed as borrowable have later been “disabled” by setting their borrowCap to 1 via risk stewards.
While this workaround suits the needs, the “correct” thing to do is to disable borrowing, and later on, decide case by case if re-enabling them. Therefore, this proposal disables borrowing for:

  • FRAX, SNX, LBTC, and rsETH on Mainnet
  • sUSD on Optimism
  • MaticX on Polygon
  • FRAX on Arbitrum
  • FRAX on Avalanche

v2 Rates

In AIP 261, the rates for v2 assets were aligned to standardize interest rates.
This resulted in some unintended increase in interest rate on renFil, which has close to zero secondary market liquidity and thus makes it almost impossible for borrowers to repay their debt.
Therefore, we recommend reverting to the previous ZeroInterestRateStrategy to cut growth.


Specification

The proposal uses the Aave config engine to implement the described changes.

Description Borrowable before Borrowable after
Arbitrum: Stablecoins DAI, USDC, USD₮0, EURS, USDC
Arbitrum: ETH correlated WETH, wstETH, weETH WETH
Avalanche: Stablecoins DAI.e, USDC, USDt, FRAX, MAI
Avalanche: AVAX correlated WAVAX, sAVAX WAVAX
Base: ETH correlated WETH, cbETH, wstETH, weETH WETH
Ethereum: ETH correlated WETH, wstETH, cbETH, rETH, weETH, osETH, ETHx WETH
Gnosis: ETH correlated WETH, wstETH WETH
Optimism:Stablecoins DAI, USDC, USDT, sUSD, USDC
Optimism: ETH correlated WETH, wstETH, rETH WETH
Polygon: Matic correlated WPOL, stMATIC, MaticX WPOL
Polygon: ETH correlated WETH, wstETH WETH
Scroll: ETH correlated WETH, wstETH, weETH WETH
ZkSync: ETH correlated WETH, wstETH WETH

In addition, it calls to revert the interest rate on Aave V2 Ethereum:

AaveV2Ethereum.POOL_CONFIGURATOR.setReserveInterestRateStrategyAddress(
      AaveV2EthereumAssets.renFIL_UNDERLYING,
      0x311C866D55456e465e314A3E9830276B438A73f0
);
1 Like
87

We have created an on-chain AIP for this proposal.

Voting will start in approximately 24 hours, participate :ghost:
https://vote.onaave.com/proposal/?proposalId=313