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Proposal overview

Re-enable ETH Borrowing

Executed

Executed on 

Sep 17, 2022

Simple Summary

Re-enable ETH borrowing in the Aave V2 Ethereum market.

Abstract

AIP-97 paused ETH borrowing on the Aave V2 Ethereum market to mitigate the risk of high utilization ahead of the Ethereum Merge. Now that the Ethereum Merge has passed, this proposal re-enables ETH borrowing to revert the market back to normal conditions.

Motivation

Full details are provided in the original forum post.

Given the timing of the Merge, this proposal allows for a few days of monitoring post-Merge before this proposal can be executed. Should conditions turn undesirable, voters should vote No, and this proposal should be canceled.

Specification

  • The proposal calls enableBorrowingOnReserve with the parameters address = 0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2 (WETH address on mainnet) and stableBorrowRateEnabled as true.

Copyright

Copyright and related rights waived via CC0.

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Your voting info

Voting results

YAE

503.81K

100.00%

NAY

1.55

<0.01%

State
Executed

Executed on 

Sep 17, 2022
Quorum
Reached
Current votes

Required

503.81K

320.00K

Differential
Reached
Current differential

Required

503.81K

80,000.00

Total voting power

16,000,000

Proposal details

Created

Block

~ 13 Sep 2022, 08:54 pm

15529036

Started

Block

~ 13 Sep 2022, 08:54 pm

15529036

Executed

17 Sep 2022, 10:10 pm

Author

Paul Lei, Sandeep Gupta, Jonathan Reem, Nick Cannon, Watson Fu, Tony Salvatore, Sarah Chen