KVORUM
aaveSource: Aave governor v2 · #58

Risk Parameter Updates 2022-02-10

executedFeb 19, 2022, 05:14 PM UTCby680x683a…6c02

01Summary

AISummary by Kvorumclaude-haiku-4-5

Batch update of risk parameters (LTV, Liquidation Threshold, Liquidation Bonus) across 7 Aave V2 assets (COMP, FEI, LINK, MKR, SNX, xSUSHI, UNI) to align with the community-chosen Moderate risk level. Changes are based on Gauntlet's simulations reflecting recent market conditions with decreased volatility and increased liquidity.

Type
parameter change

Key changes

  • COMP (0xD533a949740bb3306d119CC777fa900bA034cd52): LTV 55%, Liquidation Threshold 65%, Liquidation Bonus 10.85%(medium)
  • FEI (0x956F47F50A910163D8BF957Cf5846D573E7f87CA): LTV 60%, Liquidation Threshold 70%, Liquidation Bonus 10.65%(medium)
  • LINK (0x514910771AF9Ca656af840dff83E8264EcF986CA): LTV 70%, Liquidation Threshold 75%, Liquidation Bonus 10.65%(medium)
  • MKR (0x9f8F72aA9304c8B593d555F12eF6589cC3A579A2): LTV 65%, Liquidation Threshold 70%, Liquidation Bonus 10.75%(medium)
  • SNX (0xC011a73ee8576Fb46F5E1c5751cA3B9Fe0af2a6F): LTV 45%, Liquidation Threshold 65%, Liquidation Bonus 10.75%(medium)
  • xSUSHI (0x8798249c2E607446EfB7Ad49eC89dD1865Ff4272): LTV 50%, Liquidation Threshold 65%, Liquidation Bonus 10.85%(medium)
  • UNI (0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984): LTV 60%, Liquidation Threshold 70%, Liquidation Bonus 10.75%(medium)
Contracts0x311bb771e4f8952e6da169b425e7e92d6ac45756
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

367 words

Simple Summary

A proposal to adjust eleven (11) total risk parameters across seven (7) Aave V2 assets including LTV, Liquidation Threshold, and Liquidation Bonus.

Abstract

This proposal is a batch update of risk parameters to align with the the Moderate risk level chosen by the Aave community. These parameter updates are a continuation of Gauntlet's regular parameter recommendations.

Motivation

This set of parameter updates seeks to maintain the overall risk tolerance of the protocol while making risk trade-offs between specific assets.

Our parameter recommendations are driven by an optimization function that balances 3 core metrics: insolvencies, liquidations, and borrow usage. Our parameter recommendations seek to optimize for this objective function. Gauntlet's agent-based simulations use a wide array of varied input data that changes on a daily basis (including but not limited to, asset volatility, asset correlation, asset collateral usage, DEX / CEX liquidity, trading volume, expected market impact of trades, and liquidator behavior). Our simulations tease out complex relationships between these inputs that cannot be simply expressed as heuristics. The individual collateral pages on the dashboard cover other key statistics and outputs from our simulations that can help with understanding other interesting inputs and outputs related to our simulations. For more information, please refer to our Aave market risk assessment where we provide a tactical understanding of our model architecture.

Specification

These past two weeks saw slight decreases in volatility and increases in liquidity and trading volume, which our simulations picked up on. In addition, our recent market downturn report showed that many collaterals are resilient to insolvencies, as our simulation models have predicted. We will continue to adjust risk parameters to drive increases in capital efficiency while maintaining protocol risk at safe levels.

Risk Dashboard

The community should use Gauntlet's Risk Dashboard to better understand the updated parameter suggestions and general market risk in Aave V2.

Implementation

The proposal sets the liquidation bonus, LTV and liquidation threshold ratios by calling configureReserveAsCollateral on the LendingPoolConfigurator contract at 0x311Bb771e4F8952E6Da169b425E7e92d6Ac45756, using the address and parameters specific to each token.

The full list of parameter updates can be found in the forum.

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Minor discrepancy

I compared the high-level claims in the description (7 assets, LTV/LT/Liquidation Bonus adjustments via configureReserveAsCollateral on the stated LendingPoolConfigurator address) against the 7 decoded actions, which indeed target the same contract address, use the same function, and cover 7 distinct token addresses with LTV, LT, and Liquidation Bonus values. Structurally this matches well: same function, same target contract, same asset count. The description does not provide the specific numeric values on-chain (deferring to an external forum link), so exact value-by-value verification is not possible from the text alone — this limits confidence to medium rather than high. The one notable tension is the claim of 'eleven (11) total risk parameters' changing, while the calldata technically sets three parameters per asset across seven assets (21 total parameter slots). This is a common artifact of Aave's configureReserveAsCollateral requiring all three values even when only some change, so it is very likely benign (many of the 21 values are probably resubmissions of unchanged current values), but since we lack the prior on-chain state to confirm exactly which 11 changed, I flag this as a low-severity, minor discrepancy rather than ignoring it outright. No target mismatches, no omitted actions, and no extraneous actions were found relative to the description's scope. Overall this proposal appears to faithfully implement what it describes, with only a minor counting ambiguity worth flagging to reviewers.

Discrepancies

  • lowmisleading phrasing

    The summary states 'eleven (11) total risk parameters' are being adjusted across 7 assets, but the calldata calls configureReserveAsCollateral with all three parameters (LTV, Liquidation Threshold, Liquidation Bonus) for every one of the 7 assets — 21 parameter slots in total. It's plausible that only 11 of these 21 values actually differ from current on-chain state (with the rest being re-submissions of unchanged values, a common pattern for this function), but this cannot be verified from the calldata alone since prior reserve configuration values are not provided. This creates ambiguity between the stated '11 parameters changed' and the '21 parameters set' in the transaction.

    “A proposal to adjust eleven (11) total risk parameters across seven (7) Aave V2 assets including LTV, Liquidation Threshold, and Liquidation Bonus.”

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

04Actions

7 total
#0configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0xD533a949740bb3306d119CC777fa900bA034cd52",
  "1": "5500",
  "2": "6500",
  "3": "10850"
}
Calldata
#1configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0x956F47F50A910163D8BF957Cf5846D573E7f87CA",
  "1": "6000",
  "2": "7000",
  "3": "10650"
}
Calldata
#2configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0x514910771AF9Ca656af840dff83E8264EcF986CA",
  "1": "7000",
  "2": "7500",
  "3": "10650"
}
Calldata
#3configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0x9f8F72aA9304c8B593d555F12eF6589cC3A579A2",
  "1": "6500",
  "2": "7000",
  "3": "10750"
}
Calldata
#4configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0xC011a73ee8576Fb46F5E1c5751cA3B9Fe0af2a6F",
  "1": "4500",
  "2": "6500",
  "3": "10750"
}
Calldata
#5configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0x8798249c2E607446EfB7Ad49eC89dD1865Ff4272",
  "1": "5000",
  "2": "6500",
  "3": "10850"
}
Calldata
#6configureReserveAsCollateral(address,uint256,uint256,uint256)chain 0x1
Target
0x311b…5756
Value
0 wei
Function
configureReserveAsCollateral(address,uint256,uint256,uint256)
Arguments
{
  "0": "0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984",
  "1": "6000",
  "2": "7000",
  "3": "10750"
}
Calldata

05Tally

Summed from votes

Voters27
VP participating487.9K
Outcome (current)For
Current support86.8%

06Voters

27 total
Filter:
VoterChoice% of totalRationale
DD0xdd70…8202For135.4K27.75%—5y ago
C10xc17c…64e1For103.3K21.18%—5y ago
AF0xafda…3a6eFor93.4K19.15%—5y ago
C30xc3c2…9fe5For91.4K18.73%—5y ago
F30xf36f…d88bAgainst63.1K12.93%—5y ago
F50xf569…271bAgainst1.2K0.25%—5y ago
990x9915…5529For26.30.01%—5y ago
800x80ad…c2b9For6.20.00%—5y ago
250x2572…b618For1.50.00%—5y ago
540x543e…143aFor1.50.00%—5y ago
720x7214…97acFor1.50.00%—5y ago
720x72a6…9180For1.50.00%—5y ago
BC0xbce8…285fFor1.50.00%—5y ago
2A0x2a37…a1bbFor1.50.00%—5y ago
2B0x2bc8…a49fFor1.50.00%—5y ago
540x546f…f64eFor1.50.00%—5y ago
F70xf7ba…aadaFor1.50.00%—5y ago
220x221a…c227For1.50.00%—5y ago
650x6546…b16cFor1.50.00%—5y ago
6E0x6e48…7752For1.50.00%—5y ago
1D0x1d5c…a8a8For1.50.00%—5y ago
1D0x1dec…2ae1For1.50.00%—5y ago
1C0x1ccb…c0d0For0.50.00%—5y ago
D30xd365…f98eFor0.10.00%—5y ago
3B0x3b59…22f2For0.10.00%—5y ago
CB0xcb12…12bdFor00.00%—5y ago
290x2943…f4abFor00.00%—5y ago
Showing 27

07Forum

No forum thread is confidently linked to this proposal.