KVORUM
aaveSource: Aave governance v3 · #48

addFlashborrowers

executedMar 15, 2024, 06:33 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Whitelist Contango Protocol, Cian Protocol, and Index Coop as flashborrowers on Aave V3 across Ethereum, Arbitrum, and Optimism to waive 9 basis points flashloan fees for their users. This aims to increase borrow volume and competitiveness by making high-leverage strategies like emode more profitable.

Type
governance change

Key changes

  • Whitelist Contango Protocol flashloan contract on Ethereum, Arbitrum, and Optimism(high)
  • Whitelist Cian Protocol flashloan contract on Ethereum(high)
  • Whitelist Index Coop flashloan contracts on Ethereum (3 contracts)(high)
  • Waive 9 basis points flashloan fee for whitelisted protocols' users(high)
  • Grant permission for leveraged positions, EMODE, debt and collateral swaps with exception of position migration outside Aave ecosystem(medium)

Notable concerns

  • Waiver of flashloan fees reduces potential revenue from these transactions, though Aave-Chan initiative believes this will be offset by increased borrow volume
  • Strategic use case of flashloan fee waiver is contingent on increased competitiveness leading to higher borrow volume
  • Restriction preventing migration of positions outside Aave ecosystem is noted
ContractsACL_MANAGER0x45c00508C14601fd1C1e296eB3C0e3eEEdCa45D00x6e8ac99B2ec2e08600c7d0Aab970f31e9b11957a0x3a657Ec8a755d2E43DDbfDeaDc15899EDaf8dcf80x85105b7E11c442Ca6fF6b4d90d7a439f68376Ac40xab515542d621574f9b5212d50593cD0C07e641bD0x5e2aDC1F256f990D73a69875E06AF8A8404e3a03
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

527 words

Simple Summary

The following proposal plans to add Contango Protocol, Cian Protocol and Index Coop as whitelisted actors of the Flashborrowers of Aave V3 on Ethereum, Arbitrum, and Optimism liquidity pools.

Motivation

Contango Protocol is a Dapp that builds perps by automating looping strategies, through Flash Loans. When a trader opens a position, the protocol borrows on the money market, swaps on the spot market, then lends back on the money market, allowing users to actively manage and take leveraged positions on Aave and other protocols.

Cian Protocol is a decentralized automation platform that helps users onboard complex crypto delta-neutral yield strategies in one simple transaction.

Index Coop is an EVM based protocol that enables easy access to complex DeFi strategies by translating them into ERC20 tokens

Another Aave-Aligned protocol has been added to this proposal in the context of upcoming synergies and partnerships.

If this proposal is implemented, all flashLoan fees for Contango Protocol, Cian Protocol and Index Coop users using Aave would be waived.

The Aave-Chan initiative believes that any incurred lost potential revenue will be compensated by the increased competitiveness of the Aave Protocol and the increased borrow volume.

Currently, every flashloan has a 9 bps fee that rewards liquidity providers in Aave. While flashloans were created by Aave, the ecosystem as a whole has replicated this feature, and most protocols do not implement any fees.

The ACI does not support waiving the fees for flashloans in general, as we firmly believe that users’ funds used, even in the context of a single transaction, should be rewarded.

However, some strategic use cases of V3, such as emode, are very fee-sensitive as they mobilize high leverage. Waiving the Contango Protocol, Cian Protocol and Index Coop flashloan fees is expected to make these strategies more convenient and profitable, leading to increased borrow volume and thus increased Aave DAO revenue.

Specification

Whitelist Contango Protocol, Cian Protocol and Index Coop as part of FlashBorrowers of Aave V3 on Ethereum, Arbitrum & Optimism liquidity pools.

This proposal aims to implement a single AIP, utilizing three similar payloads (one for each network), which will call addFlashBorrower() on the ACL_MANAGER contract.

This AIP grants permission to whitelist any Contango Protocol, Cian Protocol and Index Coop contract for all use cases, such as leveraged positions, EMODE, debt and collateral swaps, with one exception: no smart-contract that migrates a position outside of the Aave ecosystem is eligible for whitelisting.

This AIP will whitelist the following contracts:

NetworkProtocolAddressContract Name
EthereumIndex Coop0x45c00508C14601fd1C1e296eB3C0e3eEEdCa45D0FlashMintLeveraged
EthereumIndex Coop0x6e8ac99B2ec2e08600c7d0Aab970f31e9b11957aETH2x-FLI AaveMigrationExtension
EthereumIndex Coop0x3a657Ec8a755d2E43DDbfDeaDc15899EDaf8dcf8BTC2x-FLI AaveMigrationExtension
EthereumCIAN0x85105b7E11c442Ca6fF6b4d90d7a439f68376Ac4FlashloanHelper
EthereumContango0xab515542d621574f9b5212d50593cD0C07e641bDPermissionedAaveWrapper
ArbitrumContango0x5e2aDC1F256f990D73a69875E06AF8A8404e3a03PermissionedAaveWrapper
OptimismContango0xab515542d621574f9b5212d50593cD0C07e641bDPermissionedAaveWrapper

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The decoded calldata contains a single action: a call to execute() on an address on Ethereum, with no decoded internal arguments. This is the typical top-level pattern for Aave Governance V3 proposals, where the actual granular logic (ACL_MANAGER.addFlashBorrower() calls for each of the five listed contracts, plus any cross-chain payload triggers for Arbitrum and Optimism) is encapsulated inside the payload contract's bytecode and not exposed in this decoded trace. Because the provided calldata is opaque (a bare execute()/fallback call with no arguments), it is not possible to directly verify that the specific addresses, networks, or fee-waiver logic described in the proposal text match on-chain execution. However, nothing in the available decoded data contradicts the description either — there is no evidence of a different target, an unrelated action, or a value mismatch. Given the description is a standard, well-documented Aave ACI whitelisting proposal with links to audited implementation and test contracts, and the single visible action is consistent with the expected top-level entry point for such a proposal, I assess this as consistent, but with low confidence due to the inability to inspect the internal calls that would confirm the specific addresses and per-chain payloads claimed in the text.

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
0x8853…3f8d
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.