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Polygon RF March 15 #249

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Original file line number Diff line number Diff line change
@@ -0,0 +1,51 @@
## Reserve changes

### Reserve altered

#### USDC ([0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174](https://polygonscan.com/address/0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174))

| description | value before | value after |
| --- | --- | --- |
| reserveFactor | 83 % | 88 % |


#### DAI ([0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063](https://polygonscan.com/address/0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063))

| description | value before | value after |
| --- | --- | --- |
| reserveFactor | 81 % | 86 % |


#### USDT ([0xc2132D05D31c914a87C6611C10748AEb04B58e8F](https://polygonscan.com/address/0xc2132D05D31c914a87C6611C10748AEb04B58e8F))

| description | value before | value after |
| --- | --- | --- |
| reserveFactor | 82 % | 87 % |


## Raw diff

```json
{
"reserves": {
"0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174": {
"reserveFactor": {
"from": 8300,
"to": 8800
}
},
"0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063": {
"reserveFactor": {
"from": 8100,
"to": 8600
}
},
"0xc2132D05D31c914a87C6611C10748AEb04B58e8F": {
"reserveFactor": {
"from": 8200,
"to": 8700
}
}
}
}
```
Original file line number Diff line number Diff line change
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// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;

import {AaveV2Polygon, AaveV2PolygonAssets} from 'aave-address-book/AaveV2Polygon.sol';
import {IProposalGenericExecutor} from 'aave-helpers/interfaces/IProposalGenericExecutor.sol';

/**
* @title Reserve Factor Updates (March 15, 2024)
* @author dd0sxx_TokenLogic
* - Snapshot: Direct-to-AIP
* - Discussion: https://governance.aave.com/t/arfc-reserve-factor-updates-polygon-aave-v2/13937/20
*/
contract AaveV2Polygon_ReserveFactorUpdates_20240313 is IProposalGenericExecutor {
uint256 public constant DAI_RF = 86_00;
uint256 public constant USDC_RF = 88_00;
uint256 public constant USDT_RF = 87_00;

function execute() external {
AaveV2Polygon.POOL_CONFIGURATOR.setReserveFactor(AaveV2PolygonAssets.DAI_UNDERLYING, DAI_RF);
AaveV2Polygon.POOL_CONFIGURATOR.setReserveFactor(AaveV2PolygonAssets.USDC_UNDERLYING, USDC_RF);
AaveV2Polygon.POOL_CONFIGURATOR.setReserveFactor(AaveV2PolygonAssets.USDT_UNDERLYING, USDT_RF);
}
}
Original file line number Diff line number Diff line change
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// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;

import {AaveV2Polygon, AaveV2PolygonAssets} from 'aave-address-book/AaveV2Polygon.sol';
import {ProtocolV2TestBase, ReserveConfig} from 'aave-helpers/ProtocolV2TestBase.sol';

import {AaveV2Polygon_ReserveFactorUpdates_20240313} from './AaveV2Polygon_ReserveFactorUpdates_20240313.sol';

/**
* @dev Test for AaveV2Polygon_ReserveFactorUpdates_20240313
* command: make test-contract filter=AaveV2Polygon_ReserveFactorUpdates_20240313
*/
contract AaveV2Polygon_ReserveFactorUpdates_20240313_Test is ProtocolV2TestBase {
struct Changes {
address asset;
uint256 reserveFactor;
}

AaveV2Polygon_ReserveFactorUpdates_20240313 internal proposal;

function setUp() public {
vm.createSelectFork(vm.rpcUrl('polygon'), 54615660);
proposal = new AaveV2Polygon_ReserveFactorUpdates_20240313();
}

/**
* @dev executes the generic test suite including e2e and config snapshots
*/
function test_defaultProposalExecution() public {
(ReserveConfig[] memory allConfigsBefore, ReserveConfig[] memory allConfigsAfter) = defaultTest(
'AaveV2Polygon_ReserveFactorUpdates_20240313',
AaveV2Polygon.POOL,
address(proposal)
);

address[] memory assetsChanged = new address[](3);
assetsChanged[0] = AaveV2PolygonAssets.DAI_UNDERLYING;
assetsChanged[1] = AaveV2PolygonAssets.USDC_UNDERLYING;
assetsChanged[2] = AaveV2PolygonAssets.USDT_UNDERLYING;

Changes[] memory assetChanges = new Changes[](3);
assetChanges[0] = Changes({
asset: AaveV2PolygonAssets.DAI_UNDERLYING,
reserveFactor: proposal.DAI_RF()
});
assetChanges[1] = Changes({
asset: AaveV2PolygonAssets.USDC_UNDERLYING,
reserveFactor: proposal.USDC_RF()
});
assetChanges[2] = Changes({
asset: AaveV2PolygonAssets.USDT_UNDERLYING,
reserveFactor: proposal.USDT_RF()
});

_noReservesConfigsChangesApartFrom(allConfigsBefore, allConfigsAfter, assetsChanged);

for (uint i = 0; i < assetChanges.length; i++) {
ReserveConfig memory cfg = _findReserveConfig(allConfigsAfter, assetChanges[i].asset);
assertEq(cfg.reserveFactor, assetChanges[i].reserveFactor);
}
}
}
Original file line number Diff line number Diff line change
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---
title: "Reserve Factor Updates (March 13, 2024)"
author: "dd0sxx_TokenLogic"
discussions: "https://governance.aave.com/t/arfc-reserve-factor-updates-polygon-aave-v2/13937/20"
---

## Simple Summary

This AIP is a continuation of proposal 41 on Governance v3 and increases the Reserve Factor (RF) for assets on Polygon v2 by 5.00%, up to a maximum of 99.99%.

## Motivation

This AIP will reduce deposit yield for assets on Polygon v2 by increasing the RF. With this upgrade being passed, users will be further encouraged to migrate from Polygon v2 to v3.

Increasing the RF routes a larger portion of the interest paid by users to Aave DAO's Treasury. User's funds are not at risk of liquidation and the borrowing rate remains unchanged.

Of the assets with an RF set at 99.99%, there is no change. All other asset reserves will have the RF increased by up to 5%.

## Specification

The following parameters are to be updated as follows:

| Asset | Reserve Factor |
| ----- | -------------- |
| DAI | 86.00% |
| USDC | 88.00% |
| USDT | 87.00% |

## References

- Implementation: [AaveV2Polygon](https://github.com/bgd-labs/aave-proposals-v3/blob/38621b46cf1af4ddcee52914a20fbd6e85465cdf/src/20240229_AaveV2Polygon_ReserveFactorUpdatesFebruary292024/AaveV2Polygon_ReserveFactorUpdatesFebruary292024_20240229.sol)
- Tests: [AaveV2Polygon](https://github.com/bgd-labs/aave-proposals-v3/blob/38621b46cf1af4ddcee52914a20fbd6e85465cdf/src/20240229_AaveV2Polygon_ReserveFactorUpdatesFebruary292024/AaveV2Polygon_ReserveFactorUpdatesFebruary292024_20240229.t.sol)
- [Discussion](https://governance.aave.com/t/arfc-reserve-factor-updates-polygon-aave-v2/13937/16)

## Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
Original file line number Diff line number Diff line change
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// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;

import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/GovV3Helpers.sol';
import {EthereumScript, PolygonScript} from 'aave-helpers/ScriptUtils.sol';
import {AaveV2Polygon_ReserveFactorUpdates_20240313} from './AaveV2Polygon_ReserveFactorUpdates_20240313.sol';

/**
* @dev Deploy Polygon
* deploy-command: make deploy-ledger contract=src/20240313_AaveV2Polygon_ReserveFactorUpdates/ReserveFactorUpdates_20240313.s.sol:DeployPolygon chain=polygon
* verify-command: npx catapulta-verify -b broadcast/ReserveFactorUpdates_20240313.s.sol/137/run-latest.json
*/
contract DeployPolygon is PolygonScript {
function run() external broadcast {
// deploy payloads
address payload0 = GovV3Helpers.deployDeterministic(
type(AaveV2Polygon_ReserveFactorUpdates_20240313).creationCode
);

// compose action
IPayloadsControllerCore.ExecutionAction[]
memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
actions[0] = GovV3Helpers.buildAction(payload0);

// register action at payloadsController
GovV3Helpers.createPayload(actions);
}
}

/**
* @dev Create Proposal
* command: make deploy-ledger contract=src/20240313_AaveV2Polygon_ReserveFactorUpdates/ReserveFactorUpdates_20240313.s.sol:CreateProposal chain=mainnet
*/
contract CreateProposal is EthereumScript {
function run() external {
// create payloads
PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);

// compose actions for validation
IPayloadsControllerCore.ExecutionAction[]
memory actionsPolygon = new IPayloadsControllerCore.ExecutionAction[](1);
actionsPolygon[0] = GovV3Helpers.buildAction(
type(AaveV2Polygon_ReserveFactorUpdates_20240313).creationCode
);
payloads[0] = GovV3Helpers.buildPolygonPayload(vm, actionsPolygon);

// create proposal
vm.startBroadcast();
GovV3Helpers.createProposal(
vm,
payloads,
GovV3Helpers.ipfsHashFile(
vm,
'src/20240313_AaveV2Polygon_ReserveFactorUpdates/ReserveFactorUpdates.md'
)
);
}
}
14 changes: 14 additions & 0 deletions src/20240313_AaveV2Polygon_ReserveFactorUpdates/config.ts
Original file line number Diff line number Diff line change
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import {ConfigFile} from '../../generator/types';
export const config: ConfigFile = {
rootOptions: {
pools: ['AaveV2Polygon'],
title: 'ReserveFactorUpdates',
shortName: 'ReserveFactorUpdates',
date: '20240313',
author: 'TokenLogic',
discussion:
'https://vote.onaave.com/proposal/?proposalId=1&ipfsHash=0x552721cffc5278357af7de0861cbf8a493488c64ec112cf573b9a33623602b90',
snapshot: 'https://governance.aave.com/t/arfc-reserve-factor-updates-polygon-aave-v2/13937',
},
poolOptions: {AaveV2Polygon: {configs: {}, cache: {blockNumber: 54615660}}},
};
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