158-aave-v2-ethereum-update-interest-rate-strategy-weth.md

Proposal 158. Aave v2 Ethereum - update WETH interest rate strategy

Voting link

https://app.aave.com/governance/proposal/?proposalId=158

Governance forum discussion

https://governance.aave.com/t/arfc-weth-wsteth-interest-rate-curve-ethereum-network/11372/6

BGD analysis

Proposal types

🔧 📊 params-update

Context

This proposal updates the interest rate strategy for WETH on the Aave v2 Ethereum pool.

Proposal creation

Transaction: https://etherscan.io/tx/0x5abb107e6ba59d8bb8f065334743a669041c9bcde06747fb8d36aa62008bca8f

- id: 158
- creator: 0x55b16934c3661e1990939bc57322554d9b09f262
- executor: 0xee56e2b3d491590b5b31738cc34d5232f378a8d5
- targets: [0xfb2a7eb134fa2d03d9a2c8fe0a9758132fe15357]
- values: [0]
- signatures: [execute()]
- calldatas: [0x]
- withDelegatecalls: [true]
- startBlock: 16650679
- endBlock: 16669879
- strategy: 0xb7e383ef9b1e9189fc0f71fb30af8aa14377429e
- ipfsHash: 0xb802e21e7ca82e5e4c49bd21e7d7c80d723bcd475b2fb9be1a4e2620e0da90c5

Aave Seatbelt report

https://github.com/bgd-labs/seatbelt-for-ghosts/blob/main/reports/Aave/0xEC568fffba86c094cf06b22134B23074DFE2252c/158.md

There is a infrastructural problem on Tenderly, which causes the state transitions to show erroneously. We have double checked both payload code and events emitted, and everything seems correct

Technical analysis

The proposal payloads do the following:

• Call the Pool Configurator of Aave v2 Ethereum to replace the current interest rate strategy of WETH with the one on deployed HERE. We verified that the only changes are on base variable borrow rate (from 0% to 1%) and variable slope 1 (from 5.75% to 3.8%).

BGD validations

✅ The code on the proposal payload corresponds to the proposal specification.

✅ Payload encoded via multiple targets and calldatas, no delegatecall

✅ BGD reviewed the payload before the proposal was submitted.

❓ The proposal includes a proper tests suite, checking all necessary post-conditions.

❌ BGD reviewed the procedure followed to submit the proposal.