aaveSource: Aave governor v2 · #156
Update MAI Caps Aave Polygon V3 pool
executedFeb 20, 2023, 08:12 AM UTCby320x329c…3ed4
01Summary
AISummary by Kvorumclaude-haiku-4-5
Update MAI (MiMATIC) supply and borrow caps on Aave Polygon v3 to 1,100,000 and 600,000 respectively, as proposed by the Aave-Chan Initiative (ACI) in collaboration with Gauntlet and Chaos Labs risk analysis.
- Type
- parameter change
Key changes
- Set MAI supply cap to 1,100,000 tokens on Polygon v3(medium)
- Set MAI borrow cap to 600,000 tokens on Polygon v3(medium)
Notable concerns
- ACI explicitly disclaims any link to or payment from QiDAO or related entities
Contracts0xa3Fa99A148fA48D14Ed51d610c367C61876997F10x158a6bc04f0828318821bae797f50b0a1299d45b
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
187 words
Simple Summary
This AIP proposal presents Aave with the opportunity to update MAI supply & borrow caps on the Polygon v3 Liquidity Pool.
Motivation
Supporting stablecoin diversity is part of the Aave-Chan Initiative (ACI) delegate platform.
The ACI does not have any link nor is paid by QiDAO or any entity to present this AIP.
Supply and borrow caps are suggested for this asset to limit risk exposure, the caps have been proposed by a join collaboration between Gauntlet & Chaos Labs.
Specification
Ticker: MiMATIC
Contract Address: 0xa3Fa99A148fA48D14Ed51d610c367C61876997F1
| Risk Parameter | Value |
|---|---|
| Supply Cap | 1,100K |
| Borrow Cap | 600k |
contract MAIV3PolCapsPayload is IProposalGenericExecutor {
address public constant MAI = 0xa3Fa99A148fA48D14Ed51d610c367C61876997F1;
uint256 public constant MAI_SUPPLY_CAP = 1_100_000;
uint256 public constant MAI_BORROW_CAP = 600_000;
function execute() external {
IPoolConfigurator configurator = AaveV3Polygon.POOL_CONFIGURATOR;
configurator.setSupplyCap(MAI, MAI_SUPPLY_CAP);
configurator.setBorrowCap(MAI, MAI_BORROW_CAP);
}
}
References
A list of relevant links like for this proposal e.g.
Security Considerations
The proposal Payload was reviewed by Bored Ghost Developing.
Deployed Contracts
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
AIMismatch analysis by Kvorum
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
1 total
#0execute(address)chain 0x1
- Target
- 0x158a…d45b
- Value
- 0 wei
- Function
- execute(address)
- Arguments
{ "0": "0xe6e2E24643581c7118F6Cf8fC30A8E236EFB493e" }- Calldata
05Tally
Summed from votes
Voters0
VP participating0
Outcome (current)—
Current support—
06Voters
0 total
Filter:
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 320x329c…3ed4 | For | 220.6K | 0.00% | — | 4y ago |
| 070x0703…961b | For | 106.9K | 0.00% | — | 4y ago |
| 620x62a4…816a | For | 81.2K | 0.00% | — | 4y ago |
| B80xb83b…cf5c | For | 80.2K | 0.00% | — | 4y ago |
| 550x55b1…f262 | For | 60.7K | 0.00% | — | 4y ago |
| 160x1664…36d9 | For | 16.9K | 0.00% | — | 4y ago |
| EA0xea17…6676 | For | 10.6K | 0.00% | — | 4y ago |
| 5F0x5fa0…cfa8 | Against | 201 | 0.00% | — | 4y ago |
| D10xd1a4…9074 | For | 8.6 | 0.00% | — | 4y ago |
| A00xa0ef…2d56 | For | 8.3 | 0.00% | — | 4y ago |
| B60xb680…fa47 | For | 2.5 | 0.00% | — | 4y ago |
| D80xd8d0…346a | For | 2 | 0.00% | — | 4y ago |
| 2B0x2ba0…8412 | For | 1.1 | 0.00% | — | 4y ago |
| 060x065f…c1a2 | For | 1.1 | 0.00% | — | 4y ago |
| A80xa817…f503 | For | 1 | 0.00% | — | 4y ago |
| C70xc724…b01d | For | 1 | 0.00% | — | 4y ago |
| 320x3225…c43b | For | 1 | 0.00% | — | 4y ago |
| F90xf955…c10c | For | 1 | 0.00% | — | 4y ago |
| 570x57f0…6e50 | For | 1 | 0.00% | — | 4y ago |
| C70xc7e3…f022 | For | 1 | 0.00% | — | 4y ago |
| 8D0x8d01…8ccc | For | 1 | 0.00% | — | 4y ago |
| 1C0x1c68…d130 | For | 1 | 0.00% | — | 4y ago |
| 610x61e1…5d8a | For | 1 | 0.00% | — | 4y ago |
| F90xf920…9125 | For | 1 | 0.00% | — | 4y ago |
| 7E0x7eaf…3555 | For | 0.9 | 0.00% | — | 4y ago |
| 600x607e…515d | For | 0.2 | 0.00% | — | 4y ago |
| 6C0x6ce5…131a | For | 0.2 | 0.00% | — | 4y ago |
| FF0xffb8…eb7d | For | 0.1 | 0.00% | — | 4y ago |
| D10xd12d…2224 | For | 0 | 0.00% | — | 4y ago |
| 650x65c9…7ffc | For | 0 | 0.00% | — | 4y ago |
Showing 30
07Forum
- [ARFC] increase borrow cap for MAI Aave Polygon V3 ↗discourse · high confidence
AIForum synthesis by Kvorumclaude-sonnet-5
sentiment · mixedthread · constructive
Arguments for
- MAI borrowing is near its cap, which restricts supply from reaching optimal utilization and stifles market demand, so raising the cap would let supply and demand find a new equilibrium benefiting LPs, borrowers, and protocol revenue.— MarcZeller
- QiDAO supports the increase, noting MAI has ample and diversified liquidity on Polygon, making liquidation risk unlikely.— Benjamin918
- Gauntlet's own analysis suggested even higher caps than proposed, but it deferred to Chaos Labs' numbers to avoid governance fatigue rather than pushing a competing recommendation.— Pauljlei
- The proposer updated the risk parameters to match Chaos Labs' recommended (rounded) figures in order to move the proposal forward to Snapshot.— MarcZeller
Arguments against
- Chaos Labs recommended more conservative caps than originally proposed (halving the supply cap increase and lowering the borrow cap to ~597k) to stay consistent with its updated methodology, while leaving room for later dynamic increases.— ChaosLabs
- The revised, more conservative caps understate MAI's two-year track record and deep, diversified liquidity across multiple Polygon DEXs (Uniswap, QuickSwap, Curve, Balancer, KyberSwap), making the added restrictions unnecessary.— 0xNacho
- Isolation mode combined with a low borrow cap unnecessarily limits MAI's composability and growth potential, since actual supply growth is being throttled by the borrow cap rather than the supply cap.— 0xNacho
Unresolved concerns
- 0xNacho's objection that the Chaos Labs-adjusted caps (adopted by the proposer) are too conservative given MAI's liquidity profile was raised late in the thread and never directly addressed by MarcZeller, Pauljlei, or ChaosLabs before escalation.— 0xNacho
- The discrepancy between Gauntlet's internal analysis (which suggested higher caps) and the lower Chaos Labs figures ultimately adopted was never reconciled with specific numbers or justification.— Pauljlei, ChaosLabs
Notable participants
- MarcZellerProposer (ACI) who authored the ARFC and updated the risk parameters based on risk provider feedback.
- PauljleiGauntlet representative who reviewed the proposal and noted their analysis supported even higher caps but deferred to Chaos Labs to reduce governance fatigue.
- Benjamin918QiDAO community member who expressed support for the cap increase and pointed to MAI's risk dashboard.
- ChaosLabsRisk provider who proposed specific, more conservative supply and borrow cap figures based on their updated methodology.
- 0xNachoDelegate who pushed back on the reduced caps, arguing for higher limits based on MAI's liquidity and reputation.
Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
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