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.
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.
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: