Executed
Gauntlet recommendation to reactivate CRV borrowing on v3
Votes
Proposal
Proposal
title: "Gauntlet recommendation to reactivate CRV borrowing on v3" author: "Gauntlet" discussions: "https://governance.aave.com/t/arfc-gauntlet-recommendation-to-re-enable-crv-borrowing-on-v3-ethereum-polygon/15513"
Simple Summary
During the Vyper exploit, CRV borrowing was disabled on Ethereum and Polygon v3 with the hope of mitigating downward CRV price movement in light of excess CRV positions on Aave v2.
Given that a large majority of those CRV positions with excess risk have left the system, Gauntlet recommends reactivating CRV borrowing. In order to do so, we recommend a few other changes to CRV parameterization.
Specification
| Chain | Asset | Parameter | Current Value | Recommended Value |
|---|---|---|---|---|
| Ethereum v3 | CRV | supplyCap | 51m | 7.5m |
| Ethereum v3 | CRV | borrowCap | 7.7m | 5m |
| Ethereum v3 | CRV | debtCeiling | $5m | $1m |
| Ethereum v3 | CRV | isBorrowable | False | True |
| Polygon v3 | CRV | borrowCap | 900k | 300k |
| Polygon v3 | CRV | isBorrowable | False | True |
References
- Implementation: AaveV3Ethereum, AaveV3Polygon
- Tests: AaveV3Ethereum, AaveV3Polygon
- Snapshot
- Discussion
Disclaimer
Gauntlet has not received any compensation from any third-party in exchange for recommending any of the actions contained in this proposal.
Copyright
Copyright and related rights waived via CC0.
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