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Proposal overview

Aave StarkNet Phase I - Aave <> StarkNet Bridge deployment/activation by Aave governance

Executed

Executed on 

Dec 06, 2022

Simple Summary

This governance proposal deploys and activates the different smart contract components result of the community project to create a bridge of Aave v2 Ethereum aTokens from/to StarkNet.

Motivation

All the information regarding the project is explained on https://governance.aave.com/t/aave-starknet-phase-i-release/10428.

In summary, with the previous approval of the project via governance, the Aave community has decided to start its expansion to StarkNet, a validity rollup, starting with smart contracts for bridging infrastructure of Aave v2 Ethereum aTokens.

Additionally, this also sets the foundation for the connection of instances of Aave in other networks (e.g. Polygon, Avalanche) with StarkNet.

Specification

This proposal's payload does the following:

Ethereum side

  1. Deploys the Bridge smart contract, main component on Ethereum of the system, by calling a transparent proxy factory.
  2. Initializes the Ethereum Bridge to accept bridging of aUSDC, aUSDT and aDAI, with a 30'000 total ceiling for each one of them (in units of each asset, which in this case is relatively equivalent to USD).
  3. Sends a message via the StarkNet core messaging smart contract to activate the smart contract components on the StarkNet side.

StarkNet side

  1. The message is received by the Governance Relay contract (proxy HERE and implementation HERE), which executes the payload on https://starkscan.co/class/0x00be3e7fe64939ef463bc80b76703b93c10a61944de34df5bb2dbc7b734e3159#code via delegatecall.
  2. The payload connects and activates all the components: activates rewAAVE (representing AAVE rewards on StarkNet), connects the L1 Bridge to the L2 side of it, and connects the L1 aTokens to their static versions on L2.

The payload smart contract for Ethereum can be found HERE,

The payload smart contract for StarkNet can be found HERE.

All the other components are also present in the same repository.

After this proposal gets approved and executed, the Bridge will be fully operative on https://etherscan.io/address/0x25c0667E46a704AfCF5305B0A586CC24c171E94D (no code at the moment, being a counterfactual/CREATE2 deployment).

Security procedures

This proposal has been tested using the available tools to be as close as possible to fork both Ethereum and StarkNet mainnets.

In addition, all the components apart from the payload had gone through the security procedures enumerated on the Aave governance forum HERE.

Bored Ghost Developing has reviewed the proposal payload too.

Deployed Contracts

https://github.com/aave-starknet-project/aave-starknet-bridge#deployed-contracts

Copyright

Copyright and related rights waived via CC0.

Your voting info

Voting results

YAE

512,434

AAVE

99.99%

NAY

50

AAVE

<0.01%

Top 10 addresses

Votes

State
Executed

Executed on 

Dec 06, 2022
Quorum
Reached
Current votes

Required

512.43K

320.00K

Differential
Reached
Current differential

Required

512.38K

80,000.00

Total voting power

16,000,000

Proposal details

Created

Block

30 Nov 2022, 11:05 UTC +00:00

16082393

Started

Block

1 Dec 2022, 11:15 UTC +00:00

16089593

Ended

Block

4 Dec 2022, 03:15 UTC +00:00

16108793

Executed

6 Dec 2022, 12:53 UTC +00:00

Author

Aave on StarkNet