Aave v3 Gnosis Activation
01Summary
This proposal activates the Aave V3 pool on Gnosis chain by setting up governance permissions, listing 7 assets (wETH, wstETH, GNO, USDC, wXDAI, EURe, sDAI) with specified risk parameters, and establishing E-mode for ETH-correlated assets. The activation follows completed governance procedures including forum discussion, temp check, and snapshot voting.
- Type
- protocol addition
Key changes
- Activate Aave V3 pool on Gnosis chain (version 3.0.2)(high)
- List 7 assets: wETH, wstETH, GNO, USDC, wXDAI, EURe, sDAI with specified risk parameters including loan-to-value ratios, liquidation thresholds, supply/borrow caps, and interest rate curves(high)
- Set risk steward and freezing steward as risk admins via ACL_MANAGER.addRiskAdmin()(medium)
- Set guardian address as pool admin via ACL_MANAGER.addPoolAdmin() during bootstrap period(medium)
- Create ETH-Correlated E-mode category with 90% LTV and 93% liquidation threshold for wETH and wstETH(medium)
- Implement GNO in isolation mode with $1M debt ceiling(medium)
- Deploy sDAI and wstETH adapters for proper asset handling on Gnosis(medium)
Notable concerns
- Pool admin role temporarily held by Aave Guardian multisig for security during bootstrap period
- EURe asset configured with 0% LTV and liquidation threshold, limiting its use as collateral
- GNO borrowing disabled (0 borrow cap) despite being listed as a collateral asset
Generated by Kvorum
02Description
Simple Summary
This proposal allows the Aave governance to activate the Aave V3 Gnosis pool (3.0.2) by completing all the initial setup and listing WETH, wstETH, GNO, USDC, wXDAI, EURe and sDAI as suggested by the service providers (ACI, Gauntlet and Chaos Labs) on the governance forum. All the Aave Gnosis V3 addresses can be found in the aave-address-book.
Motivation
All the governance procedures for the expansion of Aave v3 to Gnosis have been finished, said:
- Positive signaling and approval regarding the expansion on the governance forum, temp check snapshot, and final snapshot.
- Positive technical evaluation done by BGD Labs of the Gnosis chain network, as described in the forum in detail.
- Positive risk analysis and assets/parameters recommendation by the service providers ACI, Gauntlet and Chaos Labs as commented on the forum.
- Additionally listing sDAI as approved separately on the forum and snapshot.
Specification
The proposal will do the following:
- Set risk steward and freezing steward as the risk admin by executing
ACL_MANAGER.addRiskAdmin(). - Set the guardian address as the pool admin by executing
ACL_MANAGER.addPoolAdmin(). This is following the standard procedure of keeping pool admin on the Aave Guardian during the bootstrap period, for security. - List the following assets on Aave V3 Gnosis: wETH, wstETH, GNO, USDC, wXDAI, sDAI, EURe.
The table below illustrates the initial suggested risk parameters for each asset, as passed via the snapshot.
| wETH | wstETH | GNO | USDC | wxDAI | EURe | sDAI | |
|---|---|---|---|---|---|---|---|
| Loan To Value | 75% | 75% | 31% | 77% | 77% | 0% | 77% |
| Liquidation Threshold | 78% | 78% | 36% | 80% | 80% | 0% | 80% |
| Liquidation Protocol Fee | 10% | 10% | 10% | 20% | 20% | 10% | 20% |
| Liquidation Bonus | 6% | 6% | 10% | 5% | 5% | 0% | 5% |
| Reserve Factor | 15% | 15% | 15% | 10% | 10% | 15% | 10% |
| Enable Borrow | Yes | Yes | No | Yes | Yes | Yes | No |
| Enable Collateral | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Supply Cap | 4000 wETH | 4000 wstETH | 30000 GNO | 1M USDC | 1.5M xDAI | 0.5M EURe | 1.5M sDAI |
| Borrow Cap | 3500 wETH | 400 wstETH | 0 GNO | 1M USDC | 1.5M xDAI | 0.5M EURe | 0 sDAI |
| E-mode category | ETH Correlated | ETH Correlated | None | None | None | None | None |
| Isolation Mode | No | No | Yes | No | No | No | No |
| Flashloanable | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Siloed Borrowing | No | No | No | No | No | No | No |
| Debt Ceiling | 0 | 0 | $1M | 0 | 0 | 0 | 0 |
| Stable Borrow | No | No | No | No | No | No | No |
| uOptimal | 80% | 45% | 45% | 90% | 90% | 90% | 90% |
| Base Variable Borrow Rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Variable Rate Slope1 | 3.3% | 7% | 7% | 5% | 5% | 4% | 4% |
| Variable Rate Slope 2 | 80% | 300% | 300% | 75% | 75% | 75% | 75% |
| Stable Rate Slope 1 | 4% | 7% | 7% | 5% | 5% | 4% | 4% |
| Stable Rate Slope 2 | 80% | 300% | 300% | 75% | 75% | 75% | 75% |
| Base Stable Rate Offset | 2% | 2% | 2% | 1% | 1% | 1% | 1% |
| Stable Rate Excess Offset | 8% | 8% | 8% | 8% | 8% | 8% | 8% |
| Optimal Stable To Total Debt Ratio | 20% | 20% | 20% | 20% | 20% | 20% | 20% |
E-Mode:
| Category Id | Category Label | Assets included | LT | LTV | Liquidation Bonus |
|---|---|---|---|---|---|
| 1 | ETH Correlated | WETH, wstETH | 93% | 90% | 1% |
sDAI adapter: 0x1D0f881Ce1a646E2f27Dec3c57Fa056cB838BCC2
wstETH adapter: 0xcb0670258e5961cca85d8f71d29c1167ef20de99
Risk Steward: 0x33AE1f41546a2e05368Bf789b3d868813c0Ae658
Freezing Steward: 0x3Ceaf9b6CAb92dFe6302D0CC3F1BA880C28d35e5
Security
The proposal execution is simulated within the tests and the resulting pool configuration is tested for correctness.
The deployed pool and other permissions have been programmatically verified.
In addition, we have also checked the code diffs of the deployed base contracts with the deployed contracts on Ethereum and other networks.
As a matter of caution, the POOL_ADMIN role will be given for the first weeks to the Aave Guardian multisig.
References
- Implementation: AaveV3Gnosis
- Tests: AaveV3Gnosis
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal description details a multi-step Gnosis Chain activation (ACL admin grants, asset listings with detailed risk parameters, E-Mode setup). The decoded on-chain calldata provided contains only a single action: a mainnet call to forwardPayloadForExecution, which is the well-known Aave cross-chain governance bridge mechanism (BGD Labs pattern) used to relay execution of a payload contract deployed on the target chain (here, Gnosis). This single forwarding call is consistent with how Aave typically executes cross-chain proposals — the granular actions described in the proposal (ACL_MANAGER.addRiskAdmin, addPoolAdmin, asset listings, parameter configuration) are expected to be encoded inside the referenced payload contract (id 100, executor 0x9A1F491B...) rather than directly visible in this top-level mainnet transaction. Because the actual sub-actions executed on Gnosis Chain are not decoded here, a full line-by-line comparison against the risk parameter table and ACL grants is not possible from this data alone. No contradiction is observable between the description and the visible calldata — the forwarding call target and pattern match expected Aave cross-chain governance infrastructure — but confidence is necessarily low since the substantive actions are opaque at this decoding level. No numeric mismatches, target mismatches, or omissions can be confirmed or denied with the available information, so no discrepancies are flagged, and the overall assessment is consistent pending verification of the underlying payload contract's bytecode/tests. Delegates should verify the linked implementation and test files match the described parameters, as is standard practice for these cross-chain BGD payloads.
Generated by Kvorum
04Actions
- Target
- 0x9aee…2bc7
- Value
- 0 wei
- Function
- forwardPayloadForExecution((uint256,uint8,address,uint40))
- Arguments
{ "0": [ "100", "1", "0x9A1F491B86D09fC1484b5fab10041B189B60756b", "0" ] }- Calldata
05Tally
Summed from votes
06Voters
No votes recorded yet.
07Forum
No forum thread is confidently linked to this proposal.
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