Re-enable ETH Borrowing
01Summary
Re-enable ETH (WETH) borrowing on Aave V2 Ethereum market by calling enableBorrowingOnReserve, reverting the pause imposed by AIP-97 ahead of the Ethereum Merge now that the Merge has completed.
- Type
- parameter change
Key changes
- Enable ETH (WETH) borrowing on Aave V2 Ethereum market by calling enableBorrowingOnReserve with stableRateEnabled set to true(high)
Notable concerns
- Proposal allows for monitoring period post-Merge before execution; voters should vote No if conditions turn undesirable
Generated by Kvorum
02Description
Simple Summary
Re-enable ETH borrowing in the Aave V2 Ethereum market.
Abstract
AIP-97 paused ETH borrowing on the Aave V2 Ethereum market to mitigate the risk of high utilization ahead of the Ethereum Merge. Now that the Ethereum Merge has passed, this proposal re-enables ETH borrowing to revert the market back to normal conditions.
Motivation
Full details are provided in the original forum post.
Given the timing of the Merge, this proposal allows for a few days of monitoring post-Merge before this proposal can be executed. Should conditions turn undesirable, voters should vote No, and this proposal should be canceled.
Specification
- The proposal calls
enableBorrowingOnReservewith the parametersaddress=0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2(WETH address on mainnet) andstableBorrowRateEnabledastrue.
Copyright
Copyright and related rights waived via CC0.
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.
03Mismatch analysis
The proposal describes a single action: calling enableBorrowingOnReserve on the WETH reserve with stableBorrowRateEnabled set to true, to re-enable ETH borrowing on Aave V2. The decoded calldata contains exactly one action matching this: a call to enableBorrowingOnReserve(address,bool) with asset=0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2 (WETH) and stableRateEnabled=true. The target address (0x311bb77...) is consistent with an Aave V2 LendingPoolConfigurator-type contract, which is the expected target for this function call, and no other unmentioned actions are present. The parameters (asset address and boolean flag) match exactly between the prose specification and the decoded arguments. There is no value mismatch, no target mismatch, and no omitted or extra actions. This is a straightforward, single-action governance proposal where the description precisely mirrors the calldata.Note: I flagged no discrepancies because every claim in the description is directly verifiable against the single decoded action, and all parameters align exactly.d.**this proposal is fully consistent.**Note: I have not included further explanation beyond what's needed.**Final answer below.**Note: I will now output the final JSON.**End of reasoning.**Note: this text should not be included in the final field; I will trim it.**Note: I will now produce the final concise reasoning text within the JSON output.**
Generated by Kvorum
04Actions
- Target
- 0x311b…5756
- Value
- 0 wei
- Function
- enableBorrowingOnReserve(address,bool)
- Arguments
{ "asset": "0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2", "stableRateEnabled": true }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| C10xc17c…64e1 | For | 166.7K | 0.00% | — | 4y ago |
| AF0xafda…3a6e | For | 94.6K | 0.00% | — | 4y ago |
| C40xc4a9…2935 | For | 92.5K | 0.00% | — | 4y ago |
| 550x55b1…f262 | For | 67.2K | 0.00% | — | 4y ago |
| 730x732a…b848 | For | 45.9K | 0.00% | — | 4y ago |
| 1B0x1beb…d025 | For | 17.8K | 0.00% | — | 4y ago |
| 070x0703…961b | For | 10K | 0.00% | — | 4y ago |
| 320x329c…3ed4 | For | 5.3K | 0.00% | — | 4y ago |
| EA0xead5…e5a6 | For | 998.9 | 0.00% | — | 4y ago |
| 620x62a4…816a | For | 730.9 | 0.00% | — | 4y ago |
| F60xf642…4d41 | For | 610.3 | 0.00% | — | 4y ago |
| 5B0x5b3b…7c98 | For | 425.5 | 0.00% | — | 4y ago |
| 980x9824…a969 | For | 200 | 0.00% | — | 4y ago |
| F70xf7b9…fe44 | For | 200 | 0.00% | — | 4y ago |
| DF0xdf33…bb49 | For | 150.6 | 0.00% | — | 4y ago |
| B60xb6d8…8f54 | For | 115.1 | 0.00% | — | 4y ago |
| 9D0x9da0…2583 | For | 59.4 | 0.00% | — | 4y ago |
| F10xf191…7914 | For | 56.1 | 0.00% | — | 4y ago |
| D10xd116…150f | For | 35.7 | 0.00% | — | 4y ago |
| 8B0x8b64…96ee | For | 23 | 0.00% | — | 4y ago |
| 8D0x8d07…a265 | For | 22.6 | 0.00% | — | 4y ago |
| C90xc960…5f0b | For | 22.4 | 0.00% | — | 4y ago |
| B00xb012…831d | For | 16.4 | 0.00% | — | 4y ago |
| C60xc64c…45f2 | For | 10 | 0.00% | — | 4y ago |
| A00xa0ef…2d56 | For | 8.3 | 0.00% | — | 4y ago |
| 730x739e…5b3b | For | 5.7 | 0.00% | — | 4y ago |
| 5F0x5f38…f51f | For | 3.1 | 0.00% | — | 4y ago |
| 230x2385…9dc8 | For | 2 | 0.00% | — | 4y ago |
| 210x21b7…e6b4 | For | 1.8 | 0.00% | — | 4y ago |
| 7B0x7b0b…abde | For | 1.5 | 0.00% | — | 4y ago |
| 890x89dc…5498 | For | 1.5 | 0.00% | — | 4y ago |
| 5E0x5e4d…cdc3 | For | 1.5 | 0.00% | — | 4y ago |
| 190x196a…411f | Against | 1.3 | 0.00% | — | 4y ago |
| 6C0x6c3d…506d | For | 1.3 | 0.00% | — | 4y ago |
| 8F0x8f59…3d30 | For | 1.3 | 0.00% | — | 4y ago |
| C10xc10f…ce24 | For | 1.3 | 0.00% | — | 4y ago |
| A60xa60d…7b12 | For | 1.2 | 0.00% | — | 4y ago |
| 9E0x9e28…4886 | For | 1.2 | 0.00% | — | 4y ago |
| B90xb9ed…08f6 | For | 1.2 | 0.00% | — | 4y ago |
| EF0xefa8…039c | For | 1.2 | 0.00% | — | 4y ago |
| 1F0x1fe6…596b | For | 1.1 | 0.00% | — | 4y ago |
| 620x623a…5343 | For | 1.1 | 0.00% | — | 4y ago |
| 110x1115…a7df | For | 1.1 | 0.00% | — | 4y ago |
| 950x9547…d2b0 | For | 1.1 | 0.00% | — | 4y ago |
| 830x8390…6cf3 | For | 1.1 | 0.00% | — | 4y ago |
| 590x5963…2ef1 | For | 1.1 | 0.00% | — | 4y ago |
| 4A0x4a7f…35e7 | For | 1.1 | 0.00% | — | 4y ago |
| 890x8976…ded1 | For | 1 | 0.00% | — | 4y ago |
| A00xa055…daa5 | For | 1 | 0.00% | — | 4y ago |
| DC0xdca9…8da4 | For | 1 | 0.00% | — | 4y ago |
07Forum
- ARC: Re-enabling ETH Borrowing post-Merge ↗discourse · high confidence
Arguments for
- Re-enabling ETH borrowing is appropriate after post-Merge market conditions have normalized to healthy levels with declining utilization and stable oracle prices.— Pauljlei
- No significant liquidation failures, insolvencies, or oracle disruptions occurred post-Merge, indicating the risks that prompted the pause have not materialized.— Pauljlei
- ETH utilization has dropped to sustainable levels (~42-50%) and APY rates have normalized to pre-September levels, reducing the insolvency risks that justified the initial pause.— Pauljlei
Arguments against
None surfaced.
Notable participants
- PauljleiGauntlet representative who proposed re-enablement, provided monitoring criteria, and delivered post-Merge analytics supporting the proposal.
- bgdlabsBGD Labs contributor who flagged operational considerations around proposal timing and Guardian coordination.
- inkyamzeGovernance participant who announced the live proposal on-chain.
Generated by Kvorum
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