KVORUM
aaveSource: Aave governor v2 · #295

Supply Cap increase - wstETH

executedAug 14, 2023, 01:49 PM UTCby320x329c…3ed4

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to increase wstETH supply caps on Arbitrum V3 (30k→45k), Optimism V3 (23k→34.5k), and Polygon V3 (2.7k→3.45k) to address high utilization rates and enable greater TVL and protocol revenue.

Type
parameter change

Key changes

  • Increase wstETH supply cap on Arbitrum V3 from 30k to 45k (50% increase)(high)
  • Increase wstETH supply cap on Optimism V3 from 23k to 34.5k (50% increase)(high)
  • Increase wstETH supply cap on Polygon V3 from 2.7k to 3.45k (~28% increase)(medium)

Notable concerns

  • Optimism V3 and Polygon V3 caps would reach 75% of total supply threshold after increase
  • Current utilization rates are high (77% Arbitrum, 90% Optimism, 100% Polygon) indicating strong demand
Contracts0x5979d7b546e38e414f7e9822514be443a48005290x1f32b1c2345538c0c6f582fcb022739c4a194ebb0x03b54a6e9a984069379fae1a4fc4dbae93b3bccd
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

297 words

Simple Summary

This proposal seeks to increase the supply cap for the wstETH token on the following markets:

  • Arbitrum V3
  • Polygon V3
  • Optimism V3

This proposal is compatible with the Direct-to-AIP framework.

Motivation

On the Arbitrum V3, Optimism V3, and Polygon V3 markets, the utilization of the supply cap reached 77%, 90%, and 100% respectively. Augmenting those caps would allow for a higher TVL resulting in a better experience for the user of Aave and the ecosystem built around the LSD yield leveraging. This would also increase protocol revenue via more borrowing of WETH on those diverse platforms.

Along with the utilization of the supply cap, the Total supply of this asset increased as well, which would allow the increase of those caps without compromising on the 75% of the total supply threshold.

Specification

The following parameters would be modified for the wstETH token:

TokenCurrent supply capProposed supply capIncreaseTotal SupplyTotal Supply (%)
wstETH Arbitrum V330k45k50%80k56.25%
wstETH Optimism V323k34.5k50%46k75%
wstETH Polygon V32.7k3.45k~28%4.6k75%

Contract:

References

Disclaimer:

This AIP is powered by Skyward. The author doesn’t possess wstETH tokens at the time of writing and isn’t compensated by LIDO for this ARFC.

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

The proposal describes three supply cap increases for wstETH (Arbitrum, Optimism, Polygon V3) and links to three separate implementation payload contracts, one per chain. The decoded calldata contains exactly three actions, each an execute(address) call routed through mainnet cross-chain governance infrastructure (typical Aave BGD Labs 'Direct-to-AIP' cross-chain execution pattern), each targeting a distinct payload address. This 1:1 correspondence between the three described markets and the three decoded actions, along with the use of the standard execute(address) cross-chain trigger pattern referenced in the proposal's 'Implementation' links, is structurally consistent with the description. However, the actual numeric parameters (new supply cap values) are encoded inside the target payload contracts' bytecode and are not visible in the decoded calldata itself (only generic address arguments are shown), so it is not possible to directly verify the exact cap values (45k/34.5k/3.45k) against on-chain state from this data alone. This limits confidence to medium rather than high, but there is no evidence of a mismatch, extra action, or omitted step — the number and target pattern of actions align with what the description promises for three distinct chains. No numeric mismatches, extra actions, or missing steps were identified given the information available.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

3 total
#0execute(address)chain 0x1
Target
0x5f5c…6711
Value
0 wei
Function
execute(address)
Arguments
{
  "0": "0xf285E2D9c5CdAab11c167ffa70fa4055fbeAed96"
}
Calldata
#1execute(address)chain 0x1
Target
0xd1b3…cfa3
Value
0 wei
Function
execute(address)
Arguments
{
  "0": "0x83a67159a0ad5612178Bed9deB43C0F58E941932"
}
Calldata
#2execute(address)chain 0x1
Target
0x158a…d45b
Value
0 wei
Function
execute(address)
Arguments
{
  "0": "0xaf6568bD3923e2AD05a0d6e4206f601D08E0Cde2"
}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total
Filter:
VoterChoice% of totalRationale
200x2079…d6ceFor139.4K0.00%—3y ago
320x329c…3ed4For95.1K0.00%—3y ago
B80xb83b…cf5cFor82.5K0.00%—3y ago
B90xb933…8dd1For44.1K0.00%—3y ago
2C0x2cc1…4df1For28.4K0.00%—3y ago
E40xe459…e666For20K0.00%—3y ago
EA0xea17…6676For15.4K0.00%—3y ago
180x1855…98baFor3K0.00%—3y ago
DF0xdf06…4977For27.30.00%—3y ago
730x7306…c011For10.00%—3y ago
340x3465…5073For10.00%—3y ago
0C0x0c9f…408bFor10.00%—3y ago
6C0x6cc8…903cFor10.00%—3y ago
340x3496…126bFor0.10.00%—3y ago
500x50d2…5318For0.10.00%—3y ago
440x44c1…78feFor0.10.00%—3y ago
Showing 16

07Forum

No forum thread is confidently linked to this proposal.