stkABPT Emission Update

Simple Summary

Reduce AAVE emissions for the legacy Safety Module stkABPT (stkAAVE/wstETH BPTv2) from 130 AAVE/day to 40 AAVE/day.

Motivation

This change follows the proposal’s direction to phase out stkABPT incentives (as emissions will trend to 0) by reducing incentives on the legacy Safety Module. Reducing stkABPT emissions lowers ongoing incentive spend while supporting the transition towards the Umbrella Safety Modules and improved capital efficiency.

Note: stkAAVE is not being phased out; it will be repurposed into a no-risk staking (dividend yield) contract.

Specification

• Target module: Legacy Safety Module stake token stkABPT (AaveSafetyModule.STK_AAVE_WSTETH_BPTV2).
• Change: Update AAVE rewards emission rate from 130 AAVE/day → 40 AAVE/day by setting:
  • emissionPerSecond = 40 AAVE / day (expressed as uint128(40 ether) / 1 days)
• Distribution end: extend rewards distribution by 90 days: newDistributionEnd = distributionEnd + 90 days.
• Allowance adjustment (funding): Reset and set the AAVE allowance from the Ecosystem Reserve to the stake token to cover already accrued + future emissions:
  • allowance = currentAllowance + emissionPerSecond * (newDistributionEnd - block.timestamp)
• No other changes: This payload does not modify stkAAVE emissions, cooldown parameters, slashing parameters, or any Umbrella module emissions.

References

• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.