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@@ -1,6 +1,6 @@
## Payload 127 on Ethereum

- Simulation: [https://dashboard.tenderly.co/me/simulator/3fe80d5c-a760-46d5-a5dc-fdd68d3d7038](https://dashboard.tenderly.co/me/simulator/3fe80d5c-a760-46d5-a5dc-fdd68d3d7038)
- Simulation: [https://dashboard.tenderly.co/me/simulator/d7dcfd04-44db-4266-9a32-9f296c75e513](https://dashboard.tenderly.co/me/simulator/d7dcfd04-44db-4266-9a32-9f296c75e513)
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- maximumAccessLevelRequired: 1
- state: 1(Created)
Expand Down Expand Up @@ -31,11 +31,11 @@ InitializableImmutableAdminUpgradeabilityProxy at `0x7d2768dE32b0b80b7a3454c06Bd
TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.PAYLOADS_CONTROLLER") with implementation PayloadsController at `0x7222182cB9c5320587b5148BF03eeE107AD64578`
```diff
@@ Slot `0xbb77812a8fa7fa6a572953fea9126358f3aec9cde938b0c1788d783c38ffd2cb` @@
- "0x006643c26a006644baff020157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
+ "0x006643c26a006644baff030157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
- "0x006643de8a006644baff020157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
+ "0x006643de8a006644baff030157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
@@ Slot `0xbb77812a8fa7fa6a572953fea9126358f3aec9cde938b0c1788d783c38ffd2cc` @@
- "0x000000000000000000093a800000015180006672df7f00000000000000000000"
+ "0x000000000000000000093a800000015180006672df7f000000000000664514c3"
+ "0x000000000000000000093a800000015180006672df7f000000000000664530e3"
```


Expand All @@ -47,7 +47,7 @@ TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:gho
- `CollateralConfigurationChanged(asset: 0x514910771af9ca656af840dff83e8264ecf986ca (symbol: LINK), ltv: 0, liquidationThreshold: 6500, liquidationBonus: 10700)`
- `CollateralConfigurationChanged(asset: 0xe41d2489571d322189246dafa5ebde1f4699f498 (symbol: ZRX), ltv: 0, liquidationThreshold: 1, liquidationBonus: 11000)`
- Executor at `0x5300A1a15135EA4dc7aD5a167152C01EFc9b192A`[:ghost:](https://github.com/bgd-labs/aave-address-book "AaveV2Ethereum.POOL_ADMIN, AaveV2EthereumAMM.POOL_ADMIN, AaveV3Ethereum.ACL_ADMIN, GovernanceV3Ethereum.EXECUTOR_LVL_1")
- `ExecutedAction(target: 0xdc38dbcae6be78da84972afb07825726615cbd23, value: 0, signature: execute(), data: 0x, executionTime: 1715803331, withDelegatecall: true, resultData: 0x)`
- `ExecutedAction(target: 0xdc38dbcae6be78da84972afb07825726615cbd23, value: 0, signature: execute(), data: 0x, executionTime: 1715810531, withDelegatecall: true, resultData: 0x)`
- TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.PAYLOADS_CONTROLLER") with implementation PayloadsController at `0x7222182cB9c5320587b5148BF03eeE107AD64578`
- `PayloadExecuted(payloadId: 127)`

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Original file line number Diff line number Diff line change
@@ -1,6 +1,6 @@
## Payload 128 on Ethereum

- Simulation: [https://dashboard.tenderly.co/me/simulator/3bcf69e0-beba-4ce2-94f3-84e8f2695b36](https://dashboard.tenderly.co/me/simulator/3bcf69e0-beba-4ce2-94f3-84e8f2695b36)
- Simulation: [https://dashboard.tenderly.co/me/simulator/73fc60d7-48e1-4e71-84ee-f735d4d3f4f4](https://dashboard.tenderly.co/me/simulator/73fc60d7-48e1-4e71-84ee-f735d4d3f4f4)
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- maximumAccessLevelRequired: 1
- state: 1(Created)
Expand Down Expand Up @@ -104,11 +104,11 @@ TransparentUpgradeableProxy at `0xbD37610BBB1ddc2a22797F7e3f531B59902b7bA7`[:gho
TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.PAYLOADS_CONTROLLER") with implementation PayloadsController at `0x7222182cB9c5320587b5148BF03eeE107AD64578`
```diff
@@ Slot `0x3429d6fa9db26e5631128d8185584d24f10323af033be7ff252ec8822b07bae1` @@
- "0x006643c276006644e0eb020157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
+ "0x006643c276006644e0eb030157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
- "0x006643de96006644e0eb020157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
+ "0x006643de96006644e0eb030157ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922"
@@ Slot `0x3429d6fa9db26e5631128d8185584d24f10323af033be7ff252ec8822b07bae2` @@
- "0x000000000000000000093a800000015180006673056b00000000000000000000"
+ "0x000000000000000000093a800000015180006673056b000000000000664514cf"
+ "0x000000000000000000093a800000015180006673056b000000000000664530ef"
```


Expand Down Expand Up @@ -137,7 +137,7 @@ TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:gho
- `RateStrategyCreated(strategy: 0x11ef01bc8d774a5fe6f4bcd4bafd187d27cd99af, hashedParam: 0x329845bbcd8a9229cd6efb92d03e941b923c354aeeca44282a3bbc7452601570, params: {"optimalUtilizationRate":"200000000000000000000000000","baseVariableBorrowRate":"30000000000000000000000000","variableRateSlope1":"150000000000000000000000000","variableRateSlope2":"2000000000000000000000000000","stableRateSlope1":"40000000000000000000000000","stableRateSlope2":"1000000000000000000000000000"})`
- `RateStrategyCreated(strategy: 0xe706615371ba37a3134feb28d0b4aac74e5976bb, hashedParam: 0xc93ecd12d733268b15316d978f98bb12e78fc3ddee4e9397ca9bc48cb9f2f592, params: {"optimalUtilizationRate":"200000000000000000000000000","baseVariableBorrowRate":"30000000000000000000000000","variableRateSlope1":"150000000000000000000000000","variableRateSlope2":"2000000000000000000000000000","stableRateSlope1":"20000000000000000000000000","stableRateSlope2":"750000000000000000000000000"})`
- Executor at `0x5300A1a15135EA4dc7aD5a167152C01EFc9b192A`[:ghost:](https://github.com/bgd-labs/aave-address-book "AaveV2Ethereum.POOL_ADMIN, AaveV2EthereumAMM.POOL_ADMIN, AaveV3Ethereum.ACL_ADMIN, GovernanceV3Ethereum.EXECUTOR_LVL_1")
- `ExecutedAction(target: 0x04565551453e20a0b58b890ba71cedeea9d1fb41, value: 0, signature: execute(), data: 0x, executionTime: 1715803343, withDelegatecall: true, resultData: 0x)`
- `ExecutedAction(target: 0x04565551453e20a0b58b890ba71cedeea9d1fb41, value: 0, signature: execute(), data: 0x, executionTime: 1715810543, withDelegatecall: true, resultData: 0x)`
- TransparentUpgradeableProxy at `0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.PAYLOADS_CONTROLLER") with implementation PayloadsController at `0x7222182cB9c5320587b5148BF03eeE107AD64578`
- `PayloadExecuted(payloadId: 128)`

Expand Down
8 changes: 4 additions & 4 deletions reports/proposals/105.md
Original file line number Diff line number Diff line change
Expand Up @@ -4,14 +4,14 @@

## Proposal 105

- Simulation: [https://dashboard.tenderly.co/me/simulator/225c25c4-acbc-411e-87bf-976b22bfcb71](https://dashboard.tenderly.co/me/simulator/225c25c4-acbc-411e-87bf-976b22bfcb71)
- Simulation: [https://dashboard.tenderly.co/me/simulator/b7f75ab0-7718-4097-8d10-d77feb677bba](https://dashboard.tenderly.co/me/simulator/b7f75ab0-7718-4097-8d10-d77feb677bba)
- state: Created
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- maximumAccessLevelRequired: 1
- payloads:
[{"chain":"1","accessLevel":1,"payloadsController":"0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5","payloadId":127}]
- createdAt: [15/05/2024, 13:45:47](https://etherscan.io/tx/0x441c941bbbf59e21701d0a6c5d36f8b6dbb9602e9a829daf4a157acb1bb5620c)
- simulatedExecutionAt: 15/05/2024, 20:02:11, timestamp: 1715803331, block: 19877641
- simulatedExecutionAt: 15/05/2024, 22:02:11, timestamp: 1715810531, block: 19878238
### Ipfs

<details>
Expand All @@ -28,8 +28,8 @@
TransparentUpgradeableProxy at `0x9AEE0B04504CeF83A65AC3f0e838D0593BCb2BC7`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.GOVERNANCE") with implementation Governance at `0x58BcB647C4beFf253B4B6996c62F737B783f2cDd`
```diff
@@ `_proposals` key `"105".state` @@
- 112277019361539
+ 112277019361540
- 112277490434307
+ 112277490434308
```

TransparentUpgradeableProxy at `0xEd42a7D8559a463722Ca4beD50E0Cc05a386b0e1`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.CROSS_CHAIN_CONTROLLER") with implementation CrossChainControllerUpgradeRev2 at `0x28559c2F4B038b1E836fA419DCcDe7454d8Fe215`
Expand Down
102 changes: 6 additions & 96 deletions reports/proposals/106.md
Original file line number Diff line number Diff line change
Expand Up @@ -4,110 +4,20 @@

## Proposal 106

- Simulation: [https://dashboard.tenderly.co/me/simulator/c779cb48-6f13-4edc-98a5-360900437084](https://dashboard.tenderly.co/me/simulator/c779cb48-6f13-4edc-98a5-360900437084)
- Simulation: [https://dashboard.tenderly.co/me/simulator/2bf3c319-94a1-4409-9a35-e5e53758cce1](https://dashboard.tenderly.co/me/simulator/2bf3c319-94a1-4409-9a35-e5e53758cce1)
- state: Created
- creator: 0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
- maximumAccessLevelRequired: 1
- payloads:
[{"chain":"1","accessLevel":1,"payloadsController":"0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5","payloadId":128}]
- createdAt: [15/05/2024, 16:22:35](https://etherscan.io/tx/0xfe41d70d2336aec8a03403ac60068dd260e61acb58190eba8a333924982d3e9a)
- simulatedExecutionAt: 15/05/2024, 20:02:23, timestamp: 1715803343, block: 19877642
- simulatedExecutionAt: 15/05/2024, 22:02:11, timestamp: 1715810531, block: 19878238
### Ipfs

<details>
<summary>Deprecation of Small-cap Stablecoins on V2 Ethereum</summary>
<summary>problem fetching ipfs metadata</summary>


## Simple Summary

A proposal to deprecate USDP, GUSD, LUSD, FRAX, and sUSD on Aave V2

## Motivation

Following our ongoing efforts to deprecate the V2 markets and following the recent USDP volatility and subsequent freeze, we propose deprecating smaller market cap stablecoins on V2.

#### Deprecation Phase I

Recent events have highlighted the need for Aave to reduce its V2 exposure to lesser-used stablecoins, many of which have limited liquidity, thus allowing for price manipulation and other potentially harmful events. Previously, the community followed a two-phase process to deprecate stablecoins, with BUSD and TUSD as examples. Given the success of these, we propose a similar path forward. Notably, none of the below stablecoins are collateral assets, reducing the complication of the process.

For USDP, GUSD, LUSD, FRAX, and sUSD we propose the following parameters:

| Parameter | Proposed Value |
| ----------------- | -------------- |
| Reserve Factor | 95% |
| Borrowing Enabled | No |
| Base Rate | 3% |
| Slope1 | +3% |
| Slope2 | 200% |
| UOptimal | 20% |

The goal of Phase I is to increase borrower APR to encourage borrowers to repay their loans; this is achieved through higher Base Rate, Slope1, Slope2, and lower UOptimal. Additionally, we recommend leaving them frozen to prevent new supplies and borrowings. Finally, we increase the reserve factor to reduce supply APY, reducing the attractiveness of supply as borrowers pay increased rates.

Following observations from Phase I, we may move to further decrease UOptimal, increase Reserve Factor, and increase Slope2.

## Specification

USDP
| Parameter | Current Value | Proposed Value |
|-------------------|---------------|----------------|
| Reserve Factor | 45% | 95% |
| Borrowing Enabled | Yes | No |
| Base Rate | 0% | 3% |
| Slope1 | 12% | 15% |
| Slope2 | 75% | 200% |
| UOptimal | 80% | 20% |

GUSD
| Parameter | Current Value | Proposed Value |
|-------------------|---------------|----------------|
| Reserve Factor | 45% | 95% |
| Borrowing Enabled | Yes | No |
| Base Rate | 0% | 3% |
| Slope1 | 12% | 15% |
| Slope2 | 150% | 200% |
| UOptimal | 70% | 20% |

LUSD
| Parameter | Current Value | Proposed Value |
|-------------------|---------------|----------------|
| Reserve Factor | 50% | 95% |
| Borrowing Enabled | Yes | No |
| Base Rate | 0% | 3% |
| Slope1 | 12% | 15% |
| Slope2 | 75% | 200% |
| UOptimal | 80% | 20% |

FRAX
| Parameter | Current Value | Proposed Value |
|-------------------|---------------|----------------|
| Reserve Factor | 55% | 95% |
| Borrowing Enabled | Yes | No |
| Base Rate | 0% | 3% |
| Slope1 | 12% | 15% |
| Slope2 | 100% | 200% |
| UOptimal | 80% | 20% |

sUSD
| Parameter | Current Value | Proposed Value |
|-------------------|---------------|----------------|
| Reserve Factor | 55% | 95% |
| Borrowing Enabled | Yes | No |
| Base Rate | 0% | 3% |
| Slope1 | 12% | 15% |
| Slope2 | 100% | 200% |
| UOptimal | 80% | 20% |

## References

- Implementation: [AaveV2Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/8a8b08961887ec193aa153fe3ff8322d3b8a53f2/src/20240502_AaveV2Ethereum_DeprecationOfSmallCapStablecoinsOnV2Ethereum/AaveV2Ethereum_DeprecationOfSmallCapStablecoinsOnV2Ethereum_20240502.sol)
- Tests: [AaveV2Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/8a8b08961887ec193aa153fe3ff8322d3b8a53f2/src/20240502_AaveV2Ethereum_DeprecationOfSmallCapStablecoinsOnV2Ethereum/AaveV2Ethereum_DeprecationOfSmallCapStablecoinsOnV2Ethereum_20240502.t.sol)
- [Snapshot](https://snapshot.org/#/aave.eth/proposal/0xf6aaa50a6a76f44df9cfbbb760ca80878854dd16d88b16a3fc0f5fa6920741f0)
- [Discussion](https://governance.aave.com/t/arfc-deprecation-of-small-cap-stablecoins-on-v2-ethereum/17484/1)

## Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

problem fetching ipfs metadata
</details>

### Check: Reports all state changes :white_check_mark:
Expand All @@ -118,8 +28,8 @@ Copyright and related rights waived via [CC0](https://creativecommons.org/public
TransparentUpgradeableProxy at `0x9AEE0B04504CeF83A65AC3f0e838D0593BCb2BC7`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.GOVERNANCE") with implementation Governance at `0x58BcB647C4beFf253B4B6996c62F737B783f2cDd`
```diff
@@ `_proposals` key `"106".state` @@
- 112277020147971
+ 112277020147972
- 112277491220739
+ 112277491220740
```

TransparentUpgradeableProxy at `0xEd42a7D8559a463722Ca4beD50E0Cc05a386b0e1`[:ghost:](https://github.com/bgd-labs/aave-address-book "GovernanceV3Ethereum.CROSS_CHAIN_CONTROLLER") with implementation CrossChainControllerUpgradeRev2 at `0x28559c2F4B038b1E836fA419DCcDe7454d8Fe215`
Expand Down

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