KVORUM
aaveSource: Aave governor v2 · #245

Add 1INCH to Aave V3 Ethereum

executedJun 18, 2023, 04:19 AM UTCby320x329c…3ed4

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to onboard 1INCH token to Aave V3 on Ethereum as part of the V2 to V3 migration plan. 1INCH will be listed with isolation mode enabled, a supply cap of 22M tokens, borrow cap of 720K tokens, and a $4.5M debt ceiling. Borrowing will be enabled with a 57% LTV and 67% liquidation threshold.

Type
protocol addition

Key changes

  • 1INCH token added to Aave V3 Ethereum with isolation mode enabled(high)
  • Supply cap set to 22,000,000 1INCH tokens based on V2 data and supply cap methodology(high)
  • Borrow cap set to 720,000 1INCH tokens (approximately 1% of average daily trading volume)(high)
  • Debt ceiling established at $4,500,000 USD(high)
  • LTV set to 57% and liquidation threshold set to 67% with 7.5% liquidation bonus(high)
  • Interest rate parameters configured with 9% Variable Slope1 and 300% Variable Slope2(medium)
  • Stable borrowing disabled for 1INCH(medium)
  • Reserve factor set to 20% and flashloan functionality enabled(medium)

Notable concerns

  • 1INCH is listed in isolation mode, restricting its use as collateral with other assets
  • Borrow cap of 720K tokens is conservative at 1% of average daily trading volume due to low market cap and trading volume
  • Stable borrowing is disabled, limiting borrowing options for users
Contracts0x111111111117dC0aa78b770fA6A738034120C3020x134c50556de1a83dd947c9460a58d8d60a289cea
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

352 words

Simple Summary

This proposal presents Aave with the opportunity to onboard 1INCH to the Etheruem Aave V3 Market.

Motivation

As part of the community efforts on the V2 to V3 migration, Chaos Labs proposed a multi-phased plan to promote V3 adoption. As per this plan, Chaos Labs proposes to list 1INCH on Aave V3 on Ethereum. 1INCH is currently listed on V2 Ethereum with borrow disabled.

As the proposed assets in the migration plan are traded with relatively low market cap and trading volume, we have taken a prudent approach in setting borrow caps to account for no more than 1% of the average daily trading volume. The supply cap was derived using our supply cap methodology with the V2 data (simulation results can be seen in the image below). Additionally, we have adjusted the IR Slope1 to reflect the changes in interest rates over the past months and adjusted the liquidation bonus levels to the current liquidity levels in DEXs.

Specification

Ticker: 1INCH

Contract Address: 0x111111111117dC0aa78b770fA6A738034120C302

Risk ParameterValue
Isolation ModeYes
BorrowableYes
Collateral EnabledYes
Supply Cap (1INCH)22,000,000
Borrow Cap (1INCH)720,000
Debt Ceiling$4,500,000
Loan To Value57.00%
Liquidation Threshold67.00%
Liquidation Bonus7.50%
Liquidation Protocol Fee10.00%
Variable Base0.00%
Variable Slope19.00%
Variable Slope2300.00%
Uoptimal45.00%
Reserve Factor20.00%
Stable BorrowingDisabled
Stable Slope113.00%
Stable Slope2300.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%
FlahloanableYes
Siloed BorrowingNo
Borrowed in IsolationNo

References

Forum Post

Test

Proposal payload implementation

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The decoded calldata consists of a single generic execute() call to what appears to be an Aave governance payload contract, following the standard pattern where all specific listing logic (asset caps, LTV, liquidation parameters, interest rate curve, isolation mode settings) is encoded inside the payload contract's bytecode rather than exposed as discrete decoded arguments in this action list. Because the decoder did not surface the internal parameter-setting calls (e.g., calls to PoolConfigurator, setSupplyCap, setBorrowCap, etc.), there is no way to directly compare each numeric claim in the description (supply cap 22M, borrow cap 720k, LTV 57%, etc.) against calldata values. This is consistent with how Aave V3 listing proposals are typically structured on-chain (a single executor call referencing an audited, publicly linked payload contract, which is provided in the description via GitHub links). Given the opacity of the single decoded action, confidence in a granular comparison is low, but there is no evidence of a mismatch, hidden transfer, unauthorized role grant, or redirection of funds. The proposal's description is detailed and specific, and the on-chain action is consistent with the expected pattern for this type of listing proposal, so no discrepancy is flagged despite the inability to verify every parameter line-by-line against the calldata itself.

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
0x134c…9cea
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total
Filter:
VoterChoice% of totalRationale
320x329c…3ed4For232.4K0.00%—3y ago
130x13bd…8548For81.8K0.00%—3y ago
B80xb83b…cf5cFor81.4K0.00%—3y ago
160x1664…36d9For16.9K0.00%—3y ago
5B0x5b3b…7c98For7.3K0.00%—3y ago
180x1855…98baFor3K0.00%—3y ago
A00xa06c…61f7For678.80.00%—3y ago
EA0xea17…6676For238.40.00%—3y ago
B10xb16c…f4cdFor10.00%—3y ago
BF0xbfec…52f2For0.20.00%—3y ago
330x33e8…6284For0.10.00%—3y ago
Showing 11

07Forum

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

Arguments for

  • 1INCH listing supports the community's V2 to V3 migration plan by onboarding an asset currently present on V2 with established usage patterns.— ChaosLabs, 0xkeyrock.eth

Arguments against

None surfaced.

Notable participants

  • ChaosLabsProposer who initiated the 1INCH listing as part of the V2 to V3 migration strategy and managed the governance process through execution.
  • 0xkeyrock.ethCommunity member who expressed support for the proposal.
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Open the thread ↗