KVORUM
aaveSource: Aave governance v3 · #100

Generalized LT/LTV Reductions on Aave V3 Step 2

executedMay 10, 2024, 04:07 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Phase II of stablecoin risk parameter reductions across Aave V3 markets on 9 chains. Reduces Loan-to-Value (LTV) and Liquidation Threshold (LT) for stablecoins including USDC, USDT, and related variants to harmonized levels (75% LTV, 78% LT). DAI and sDAI excluded per separate proposal. Expected new liquidations total approximately $49,500 across all chains.

Type
parameter change

Key changes

  • Reduce USDC LTV from 76% to 75% and LT from 79% to 78% across Ethereum, Gnosis, Base, Scroll, Polygon, BNB, and Optimism(high)
  • Reduce USDT LTV from 76% to 75% and LT from 79% to 78% across Ethereum, Polygon, Arbitrum, Optimism, and BNB(high)
  • Reduce USDC.e LTV from 76% to 75% and LT from 79% to 78% on Polygon and Arbitrum; reduce from 78% to 75% LTV and 84% to 80% LT on Optimism(high)
  • Reduce USDbC LTV from 76% to 75% and LT from 79% to 78% on Base(medium)
  • Increase sDAI LTV from 63% to 75% and LT from 77% to 78% on Ethereum and Gnosis(medium)
  • Reduce USDC LTV from 80% to 75% and LT from 85% to 81% on Avalanche(high)

Notable concerns

  • Avalanche USDC reduction triggers largest new liquidations at $23,700
  • Optimism USDC.e reduction triggers $5,800 in new liquidations
  • Polygon USDC.e reduction triggers $4,700 in new liquidations
  • DAI and sDAI excluded from this proposal due to separate risk parameter adjustment proposal
ContractsAaveV3EthereumAaveV3PolygonAaveV3AvalancheAaveV3OptimismAaveV3ArbitrumAaveV3BaseAaveV3GnosisAaveV3ScrollAaveV3BNB
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

676 words

Simple Summary

Reduce stablecoin LTs and LTVs across all markets.

Motivation

Following a successful implementation of Phase I of our plan to reduce stablecoin LTs and LTVs, we would like to propose the next phase. Additionally, we have updated our recommended final state for all associated stablecoins, with LTVs and LTs harmonized across all chains at 75% and 78%, respectively.

Please note that given the proposal to adjust DAI and sDAI risk parameters, it has been excluded from this proposal.

Specification

Ethereum

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$2,600
USDT76%75%79%78%$0
sDAI63%75%77%78%

Gnosis

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$0
sDAI63%75%77%78%

Base

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$3.80
USDbC76%75%79%78%$0.40

Scroll

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$103

Polygon

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$0
USDT76%75%79%78%$833
USDC.e76%75%79%78%$4,700

Arbitrum

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$0
USDT76%75%79%78%$5.30
USDC.e76%75%79%78%$1,000

Optimism

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$3,700
USDT76%75%79%78%$63
USDC.e78%75%84%80%$5,800

BNB

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC76%75%79%78%$3,700
USDT76%75%79%78%$0

Avalanche

AssetCurrent LTVRecommended LTVCurrent LTRecommended LTNew Liquidations
USDC80%75%85%81%$23,700

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal description is detailed and specific, listing exact LTV/LT changes for USDC, USDT, USDC.e, USDbC, and sDAI across nine networks (Ethereum, Gnosis, Base, Scroll, Polygon, Arbitrum, Optimism, BNB, Avalanche). However, the decoded on-chain action set contains only a single top-level call: execute() on a payload contract on Ethereum mainnet, with no arguments. This is the standard pattern for Aave cross-chain governance proposals, where the on-chain payload contract internally performs the granular per-market configurator calls (and dispatches cross-chain messages to other networks) via delegatecall/internal logic that is not exposed in the decoded top-level calldata. Because the decoded action provides no visibility into the specific parameter changes actually being executed, I cannot verify or refute the individual LTV/LT figures, target markets, or the sDAI exception claim against the calldata. Given that this opacity is expected and typical for this proposal type (referencing multiple per-chain Solidity payload files matching the described chains), I do not treat the lack of granular decoding as a discrepancy, but confidence in a line-by-line comparison is low. No contradictions, extra actions, or omissions can be substantiated from the available data.on the DAO.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0fallback()chain 0x1
Target
0x7f9c…5e54
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.