Caps Plus Risk Steward
This governance proposal grants the
RISK_ADMIN role to a
CapsPlusRiskStewards smart contract on each network with an active instance of Aave v3.
CapsPlusRiskStewards has received the
RISK_ADMIN role, the
RISK_COUNCIL can adjust asset borrow/supply caps upwards without voting overhead. The
RISK_COUNCIL is a Gnosis Safe controlled by the DAOs risk-providers (Gauntlet, Chaos Labs).
During the last months, for the broad majority of proposals regarding caps updates, the support of the community has been almost unanimous, with 1 or 2 exceptions. The rationale of this is pretty clear: caps updates usually simply depend on the “green light” from the risk providers (Gauntlet, Chaos Labs) As both providers have historically been in agreement with the updates proposed, the community has just followed that recommendation by supporting on-chain.
Therefore, it seems that the community has important voting overhead in this scenario, which could be almost completely automated and simplified. It is quite common to have a proposal with unanimous support on day 1 of voting but given all other time considerations, execution is 3 to 5 days after.
This proposal gives the necessary
RISK_ADMIN role to the
CapsPlusRiskSteward introduced in this governance forum thread.
After execution, the
RISK_COUNCIL will be able to perform cap increases through the
CapsPlusRiskStewards under the following conditions for each asset listed:
- the cap can only be adjusted upwards
- the cap can never be increased by more than 100%
- the cap can only be adjusted once every 5 days
This proposal's payload executes
STEWARD is the
CapsPlusRiskStewards pre-deployed on the respective network.
CapsPlusRiskStewards is unit tested.
The proposal execution is simulated within the tests.
- CapsPlusRiskSteward: arbitrum, avalanche, mainnet, metis, optimism, polygon
- Payloads: arbitrum, avalanche, mainnet, metis, optimism, polygon
- Discussion: CapsPlusRiskSteward
- Discussion: caps update framework
- Discussion: fast track process
- Code: ProposalPayload
- Code: Payload Tests
- Code: CapsPlusRiskSteward
- Code: CapsPlusRiskSteward Tests
Copyright and related rights waived via CC0.
Your voting info
23 May 2023, 18:03 UTC +00:00
24 May 2023, 18:19 UTC +00:00
27 May 2023, 10:19 UTC +00:00
28 May 2023, 11:06 UTC +00:00
BGD Labs (@bgdlabs)