increase supply cap for wstETH Aave Arbitrum V3
01Summary
Proposal to double the wstETH supply cap on Aave V3 Arbitrum from 1,200 to 2,400 units, addressing the asset reaching 95% utilization and enabling new and existing users to access or increase positions.
- Type
- parameter change
Key changes
- wstETH supply cap increased from 1,200 to 2,400 on Aave V3 Arbitrum(high)
Generated by Kvorum
02Description
Simple Summary
This AIP proposal presents Aave with the opportunity to increase wstETH supply cap on the Arbitrum v3 Liquidity Pool.
Motivation
wstETH has reached approximately 95% of its supply cap on Aave V3 Arbitrum.
Increasing this supply cap will enable new Aave users to utilize Aave V3 and allow current users to increase the size of their positions.
The proposed increase is set at a level that allows the market to find a new equilibrium while maintaining a conservative approach.
Specification
Ticker: wstETH (wstETH)
Contract Address: 0x5979d7b546e38e414f7e9822514be443a4800529
| Parameter | Current | Proposed |
|---|---|---|
| Supply Cap | 1200 | 2400 |
contract AaveV3ArbwstETHCapsPayload is IProposalGenericExecutor {
uint256 public constant WSTETH_CAP = 2_400;
function execute() external {
AaveV3Arbitrum.POOL_CONFIGURATOR.setSupplyCap(
AaveV3ArbitrumAssets.wstETH_UNDERLYING,
WSTETH_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
The proposal follows the standard Aave governance pattern where a single on-chain action executes a delegatecall to a payload contract. The decoded action's target address (0xCDB9ea7F9443fA9e8ba6EBC9Ef41C3ed75939663) exactly matches the 'Deployed Contracts' address listed in the description for AaveV3ArbwstETHCapsPayload. The description's Solidity snippet shows this payload calls setSupplyCap with WSTETH_CAP = 2_400, which matches the Specification table's proposed value of 2400 (up from 1200). There is no value mismatch, target mismatch, or omitted/extra action — the single calldata action fully and accurately implements the described supply cap increase for wstETH on Aave V3 Arbitrum. No discrepancies were found.
Generated by Kvorum
04Actions
- Target
- 0x2e2b…05f1
- Value
- 0 wei
- Function
- execute(address)
- Arguments
{ "0": "0xCDB9ea7F9443fA9e8ba6EBC9Ef41C3ed75939663" }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 320x329c…3ed4 | For | 222.6K | 34.16% | — | 4y ago |
| 070x0703…961b | For | 107.3K | 16.46% | — | 4y ago |
| 620x62a4…816a | For | 81.6K | 12.52% | — | 4y ago |
| 130x13bd…8548 | For | 80.6K | 12.36% | — | 4y ago |
| B80xb83b…cf5c | For | 80.2K | 12.30% | — | 4y ago |
| B90xb933…8dd1 | For | 41.7K | 6.39% | — | 4y ago |
| 7A0x7ae1…e585 | For | 26.7K | 4.09% | — | 4y ago |
| EA0xea17…6676 | For | 10.6K | 1.63% | — | 4y ago |
| 5F0x5fa0…cfa8 | For | 499.9 | 0.08% | — | 4y ago |
| B60xb6d8…8f54 | For | 110 | 0.02% | — | 4y ago |
| A00xa0ef…2d56 | For | 8.3 | 0.00% | — | 4y ago |
| 0D0x0d19…f906 | For | 1.1 | 0.00% | — | 4y ago |
| C70xc724…b01d | For | 1 | 0.00% | — | 4y ago |
| 2C0x2c2e…242c | For | 1 | 0.00% | — | 4y ago |
| 700x70df…1889 | For | 1 | 0.00% | — | 4y ago |
| 8B0x8baf…fa49 | For | 1 | 0.00% | — | 4y ago |
| 7E0x7eaf…3555 | For | 0.9 | 0.00% | — | 4y ago |
| 360x3647…a20e | For | 0.8 | 0.00% | — | 4y ago |
| E40xe459…e666 | For | 0.5 | 0.00% | — | 4y ago |
| 2B0x2ba3…4a2d | For | 0.2 | 0.00% | — | 4y ago |
| 050x05f7…946c | For | 0.2 | 0.00% | — | 4y ago |
| 3E0x3e07…525b | For | 0.1 | 0.00% | — | 4y ago |
| 6C0x6c63…38db | For | 0 | 0.00% | — | 4y ago |
| D10xd101…84f8 | For | 0 | 0.00% | — | 4y ago |
| 290x29bc…d91d | For | 0 | 0.00% | — | 4y ago |
| 790x7908…58c0 | For | 0 | 0.00% | — | 4y ago |
| 540x5454…1291 | For | 0 | 0.00% | — | 4y ago |
07Forum
- [ARFC] increase supply cap for wstETH Aave arbitrum V3 ↗discourse · high confidence
Arguments for
- wstETH has reached ~95% of its current supply cap on Arbitrum V3, indicating strong market demand that a cap increase would satisfy.— MarcZeller
- Increasing the supply cap allows both new users to access Aave V3 and existing users to increase position sizes.— MarcZeller
- A 100% increase aligns with the direct-to-AIP framework, enabling rapid deployment without additional governance delays.— MarcZeller
- The proposed increase maintains a conservative approach while allowing the market to find a new equilibrium.— MarcZeller
- Gauntlet's risk methodology supports the cap increase from a market risk perspective.— Pauljlei
Arguments against
None surfaced.
Unresolved concerns
- Whether 2400 wstETH is sufficient relative to Arbitrum's overall TVL and transaction growth compared to other networks, or if it should match OP's 6000 cap.— vix
Notable participants
- MarcZellerProposer; Aave-Chan Initiative founder who authored the ARFC and responded to community questions.
- PauljleiGauntlet representative who provided risk analysis supporting the proposal.
- MatthewGrahamEarly supporter who endorsed the proposal.
- ChaosLabsRisk contributor who supported the supply cap increase and endorsed the direct-to-AIP process.
- vixCommunity member who questioned whether the cap increase was sufficient relative to market demand.
Generated by Kvorum
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