KVORUM
aaveSource: Aave governor v2 · #192

increase supply cap for cbETH Aave Ethereum V3

executedApr 2, 2023, 05:59 AM UTCby320x329c…3ed4

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to increase the cbETH supply cap on Aave's Ethereum v3 Liquidity Pool from 30,000 to 60,000 units, supporting liquid staking derivative diversity as part of the Aave-Chan Initiative's platform.

Type
parameter change

Key changes

  • cbETH supply cap increased from 30,000 to 60,000 on Ethereum v3 Liquidity Pool(high)
  • Borrow cap remains unchanged (KEEP_CURRENT)(medium)

Notable concerns

  • Risk parameters proposed collaboratively by Gauntlet and Chaos Labs to limit risk exposure
Contracts0xbe9895146f7af43049ca1c1ae358b0541ea49704
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
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02Description

179 words

Simple Summary

This AIP proposal presents Aave with the opportunity to increase cbETH supply cap on the Ethereum v3 Liquidity Pool.

Motivation

Supporting LSDs diversity is part of the Aave-Chan Initiative (ACI) delegate platform.

The ACI does not have any link nor is paid by Coinbase or any entity to present this AIP.

Supply cap is suggested for this asset to limit risk exposure, the caps have been proposed by a join collaboration between Gauntlet & Chaos Labs.

Specification

Ticker: cbETH

Contract Address: 0xbe9895146f7af43049ca1c1ae358b0541ea49704

Risk ParameterCurrent ValueProposed Value
Supply Cap30K60K
contract AaveV3EthCBETHSupplyCapUpdate_20230328 is AaveV3PayloadEthereum {
  function capsUpdates() public pure override returns (IEngine.CapsUpdate[] memory) {
    IEngine.CapsUpdate[] memory capsUpdate = new IEngine.CapsUpdate[](1);

    capsUpdate[0] = IEngine.CapsUpdate({
      asset: AaveV3EthereumAssets.cbETH_UNDERLYING,
      supplyCap: 60_000,
      borrowCap: EngineFlags.KEEP_CURRENT
    });

    return capsUpdate;
  }
}

References

A list of relevant links like for this proposal e.g.

Security Considerations

The proposal Payload was reviewed by Bored Ghost Developing.

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The decoded on-chain action is a single generic execute() call to the Aave V3 Ethereum governance payload contract, which is the standard delegatecall pattern used by Aave governance proposals — the granular logic (the capsUpdate setting cbETH supplyCap to 60,000) lives inside that target contract's bytecode and is not further decoded in the provided calldata table. This matches the pattern shown in the proposal's embedded Solidity source (AaveV3EthCBETHSupplyCapUpdate_20230328), which explicitly sets cbETH supplyCap to 60_000 and keeps borrowCap unchanged, consistent with the description's claim of raising the cap from 30K to 60K. There is no numeric or target mismatch visible, and no extra or omitted actions in the single decoded call. Confidence is medium rather than high because the decoded calldata itself does not expose the internal parameters (60_000, asset address) — those are inferred from the pasted source code rather than independently verifiable from the decoded_arguments field, which is empty. No unit conversion or magnitude issues were found, and there is nothing in the calldata suggesting a different asset, cap value, or unrelated action. This is a routine, single-purpose risk-parameter update proposal typical of Aave governance, and the description and payload align on intent and outcome as far as can be determined from the available decoded data.

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
0x25d9…4c09
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

AIForum synthesis by Kvorumclaude-haiku-4-5
sentiment · favorablethread · constructive

Arguments for

  • Strong market demand for cbETH deposits has caused the previous 30k cap to fill within 48 hours, indicating need for increased capacity.— MarcZeller
  • Chaos Labs' quantitative analysis supports the 60k cap using supply and borrow cap methodology with liquidity and liquidation data.— ChaosLabs
  • The proposed 60k cap strikes a balance between meeting growing demand and maintaining a conservative approach by doubling the current capacity.— MarcZeller
  • Post-Shanghai upgrade (April 12) will make liquid staking tokens like cbETH more resilient with improved secondary liquidity, similar to LSTs on Polygon PoS.— MarcZeller

Arguments against

None surfaced.

Notable participants

  • MarcZellerProposer from Aave Chan Initiative who authored and escalated the ARFC to AIP stage.
  • ChaosLabsRisk analysis provider who conducted quantitative analysis supporting the supply cap increase with liquidity and liquidation modeling.
  • PauljleiClarified that Gauntlet was not involved in risk recommendations for this proposal.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗