Risk Parameter Updates for Ethereum v3 (05/09/2023)
01Summary
Proposal to increase LUSD borrow cap on Aave Ethereum v3 from 2.4M to 4M, as recommended by Gauntlet based on 79% current cap usage.
- Type
- parameter change
Key changes
- LUSD borrow cap increased from 2.4M to 4M on Ethereum v3(high)
Generated by Kvorum
02Description
Simple Summary
A proposal to make parameter changes on Ethereum v3. For more details, see the full forum post here.
Motivation
Asset LUSD borrow cap usage is at 79%. As per our Methodology, Gauntlet would support increasing the borrow cap for this stablecoin to 4M.
Specifications
ETH v3
| Asset | Current Cap | Borrow Cap Recommendation |
|---|---|---|
| LUSD | 2.4M | 4M |
Implementation
The proposal implements changes on Aave V3 Ethereum using the following pre-deployed payload:
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. This message is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by Gauntlet Networks Inc. No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security. Nothing in this report shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this report constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this report should not be taken as advice to buy, sell or hold any security. The information in this report should not be relied upon for the purpose of investing. In preparing the information contained in this report, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this report by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
03Mismatch analysis
The proposal describes a single, well-defined action: increasing the LUSD borrow cap on Aave V3 Ethereum from 2.4M to 4M via a specific pre-deployed payload contract. The decoded on-chain action shows exactly one call, targeting the same contract address (0x0568a3aeb8e78262deff75ee68fac20ae35ffa91) named in the Implementation section, invoking execute() with no visible arguments. This is the standard Aave governance pattern where the short executor delegatecalls into a payload contract whose internal logic (setting the borrow cap) is not exposed in the top-level calldata. Because the actual parameter change (2.4M -> 4M) is encoded inside the payload contract's bytecode rather than passed as calldata arguments, it cannot be independently verified from the decoded action alone. However, the target address matches precisely what the description names, and this execute()-only pattern is routine and expected for Aave governance payloads, not a sign of misdirection. There is no mismatch in target, no extra or missing top-level actions, and no evidence of value manipulation in what is visible. Given the opacity of the payload's internal effects, confidence is medium rather than high, but nothing here suggests inconsistency between the stated intent and the executed action target/structure.
Generated by Kvorum
04Actions
- Target
- 0x0568…fa91
- Value
- 0 wei
- Function
- fallback()
- Arguments
{}- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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