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WETH Borrow Rate Update - Lido Instance #510

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This PR proposes increasing the Slope1 parameter by 25bps for wETH on Lido instance.

The Lido instance wETH Slope1 is to be revised as follows:

Asset Parameter Current Proposed Change
wETH Slope1 2.50% 2.75% +0.25%

@LucasWongC LucasWongC changed the title Weth rate slope1 update lido instance WETH Borrow Rate Update - Lido Instance Nov 4, 2024
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github-actions bot commented Nov 7, 2024

Foundry report

forge 0.2.0 (58bf161 2024-11-07T00:20:40.732513260Z)
Build log
Compiling 306 files with Solc 0.8.20
Solc 0.8.20 finished in 133.85s
Compiler run successful with warnings:
Warning (5667): Unused function parameter. Remove or comment out the variable name to silence this warning.
   --> lib/aave-helpers/src/swaps/AaveSwapper.sol:146:5:
    |
146 |     address erc20Token
    |     ^^^^^^^^^^^^^^^^^^

Warning (2018): Function state mutability can be restricted to pure
   --> lib/aave-helpers/src/swaps/AaveSwapper.sol:145:3:
    |
145 |   function maxRescue(
    |   ^ (Relevant source part starts here and spans across multiple lines).

Warning (2018): Function state mutability can be restricted to pure
   --> lib/aave-helpers/src/ProtocolV2TestBase.sol:663:3:
    |
663 |   function _logReserveConfig(ReserveConfig memory config) internal view {
    |   ^ (Relevant source part starts here and spans across multiple lines).

| Contract                                                            | Runtime Size (B) | Initcode Size (B) | Runtime Margin (B) | Initcode Margin (B) |
|---------------------------------------------------------------------|------------------|-------------------|--------------------|---------------------|
| AaveGovernanceV2                                                    |               44 |                94 |             24,532 |              49,058 |
| AaveSafetyModule                                                    |               44 |                94 |             24,532 |              49,058 |
| AaveSwapper                                                         |            5,555 |             5,992 |             19,021 |              43,160 |
| AaveV2Avalanche                                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV2AvalancheAssets                                               |               44 |                94 |             24,532 |              49,058 |
| AaveV2Avalanche_ReserveFactorUpdatesMidOctober_20241004             |              988 |             1,017 |             23,588 |              48,135 |
| AaveV2Avalanche_UpdateLegacyGuardian_20241016                       |              348 |               486 |             24,228 |              48,666 |
| AaveV2Ethereum                                                      |               44 |                94 |             24,532 |              49,058 |
| AaveV2EthereumAMM                                                   |               44 |                94 |             24,532 |              49,058 |
| AaveV2EthereumAMMAssets                                             |               44 |                94 |             24,532 |              49,058 |
| AaveV2EthereumAMM_UpdateLegacyGuardian_20241016                     |              348 |               486 |             24,228 |              48,666 |
| AaveV2EthereumAssets                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV2Ethereum_ReserveFactorUpdatesMidOctober_20241004              |              988 |             1,017 |             23,588 |              48,135 |
| AaveV2Ethereum_UpdateLegacyGuardian_20241016                        |              348 |               486 |             24,228 |              48,666 |
| AaveV2Polygon                                                       |               44 |                94 |             24,532 |              49,058 |
| AaveV2PolygonAssets                                                 |               44 |                94 |             24,532 |              49,058 |
| AaveV2Polygon_ReserveFactorUpdatesMidOctober_20241004               |            2,384 |             2,454 |             22,192 |              46,698 |
| AaveV2Polygon_UpdateLegacyGuardian_20241016                         |              348 |               486 |             24,228 |              48,666 |
| AaveV3Arbitrum                                                      |               44 |                94 |             24,532 |              49,058 |
| AaveV3ArbitrumAssets                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3ArbitrumEModes                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3ArbitrumExternalLibraries                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3Arbitrum_GHOStewardV2Upgrade_20241007                         |            1,360 |             1,389 |             23,216 |              47,763 |
| AaveV3Arbitrum_ReserveFactorUpdatesMidOctober_20241004              |            3,227 |             3,297 |             21,349 |              45,855 |
| AaveV3Arbitrum_RiskStewardPhase2_20240805                           |              307 |               336 |             24,269 |              48,816 |
| AaveV3Arbitrum_UpdateLegacyGuardian_20241016                        |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Avalanche                                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3AvalancheAssets                                               |               44 |                94 |             24,532 |              49,058 |
| AaveV3AvalancheEModes                                               |               44 |                94 |             24,532 |              49,058 |
| AaveV3AvalancheExternalLibraries                                    |               44 |                94 |             24,532 |              49,058 |
| AaveV3Avalanche_RiskStewardPhase2_20240805                          |              178 |               206 |             24,398 |              48,946 |
| AaveV3Avalanche_UpdateLegacyGuardian_20241016                       |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3BNB                                                           |               44 |                94 |             24,532 |              49,058 |
| AaveV3BNBAssets                                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3BNBEModes                                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3BNBExternalLibraries                                          |               44 |                94 |             24,532 |              49,058 |
| AaveV3BNB_OnboardWstETHToAaveV3OnBNBChain_20241030                  |            5,561 |             5,632 |             19,015 |              43,520 |
| AaveV3BNB_RiskStewardPhase2_20240805                                |              178 |               206 |             24,398 |              48,946 |
| AaveV3BNB_UpdateLegacyGuardian_20241016                             |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Base                                                          |               44 |                94 |             24,532 |              49,058 |
| AaveV3BaseAssets                                                    |               44 |                94 |             24,532 |              49,058 |
| AaveV3BaseEModes                                                    |               44 |                94 |             24,532 |              49,058 |
| AaveV3BaseExternalLibraries                                         |               44 |                94 |             24,532 |              49,058 |
| AaveV3Base_IncreaseCbBTCSupplyCaps_20241004                         |            3,146 |             3,216 |             21,430 |              45,936 |
| AaveV3Base_ReserveFactorUpdatesMidOctober_20241004                  |            3,223 |             3,293 |             21,353 |              45,859 |
| AaveV3Base_RiskStewardPhase2_20240805                               |              178 |               206 |             24,398 |              48,946 |
| AaveV3Base_UpdateLegacyGuardian_20241016                            |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Ethereum                                                      |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumAssets                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEModes                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEtherFi                                               |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEtherFiAssets                                         |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEtherFiEModes                                         |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEtherFiExternalLibraries                              |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumEtherFi_RiskStewardPhase2_20240805                    |              178 |               206 |             24,398 |              48,946 |
| AaveV3EthereumExternalLibraries                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumLido                                                  |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumLidoAssets                                            |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumLidoEModes                                            |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumLidoExternalLibraries                                 |               44 |                94 |             24,532 |              49,058 |
| AaveV3EthereumLido_OnboardEzETHToLidoInstance_20241021              |            6,194 |             6,265 |             18,382 |              42,887 |
| AaveV3EthereumLido_RiskStewardPhase2_20240805                       |              178 |               206 |             24,398 |              48,946 |
| AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance_20241024 |            3,248 |             3,318 |             21,328 |              45,834 |
| AaveV3EthereumLido_WstETHSlope1UoptimalUpdate_20241001              |            3,250 |             3,320 |             21,326 |              45,832 |
| AaveV3Ethereum_AaveBGDPhase4_20241025                               |            1,407 |             1,436 |             23,169 |              47,716 |
| AaveV3Ethereum_AaveCertoraContinuousSecurityServices_20241014       |            1,567 |             1,596 |             23,009 |              47,556 |
| AaveV3Ethereum_ChaosLabsAaveRiskManagementServiceRenewal_20241012   |            1,255 |             1,284 |             23,321 |              47,868 |
| AaveV3Ethereum_FixUSDSBorrowRateToMatchSkySavingsRate_20241022      |            3,238 |             3,308 |             21,338 |              45,844 |
| AaveV3Ethereum_GHOStewardV2Upgrade_20241007                         |            2,895 |             2,924 |             21,681 |              46,228 |
| AaveV3Ethereum_IncreaseCbBTCSupplyCaps_20241004                     |            3,150 |             3,220 |             21,426 |              45,932 |
| AaveV3Ethereum_IncreaseUSDSBorrowRateToMatchSkySavingsRate_20241016 |            3,239 |             3,309 |             21,337 |              45,843 |
| AaveV3Ethereum_RenewLlamaRiskAsRiskServiceProvider_20241013         |            1,068 |             1,097 |             23,508 |              48,055 |
| AaveV3Ethereum_RiskStewardPhase2_20240805                           |              307 |               336 |             24,269 |              48,816 |
| AaveV3Ethereum_StkGHOIncentivesQ4_20241029                          |            1,458 |             1,487 |             23,118 |              47,665 |
| AaveV3Ethereum_UpdateLegacyGuardian_20241016                        |            1,062 |             1,413 |             23,514 |              47,739 |
| AaveV3Gnosis                                                        |               44 |                94 |             24,532 |              49,058 |
| AaveV3GnosisAssets                                                  |               44 |                94 |             24,532 |              49,058 |
| AaveV3GnosisEModes                                                  |               44 |                94 |             24,532 |              49,058 |
| AaveV3GnosisExternalLibraries                                       |               44 |                94 |             24,532 |              49,058 |
| AaveV3Gnosis_ReserveFactorUpdatesMidOctober_20241004                |            3,225 |             3,295 |             21,351 |              45,857 |
| AaveV3Gnosis_RiskStewardPhase2_20240805                             |              178 |               206 |             24,398 |              48,946 |
| AaveV3Gnosis_UpdateLegacyGuardian_20241016                          |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Metis                                                         |               44 |                94 |             24,532 |              49,058 |
| AaveV3MetisAssets                                                   |               44 |                94 |             24,532 |              49,058 |
| AaveV3MetisEModes                                                   |               44 |                94 |             24,532 |              49,058 |
| AaveV3MetisExternalLibraries                                        |               44 |                94 |             24,532 |              49,058 |
| AaveV3Metis_RiskStewardPhase2_20240805                              |              178 |               206 |             24,398 |              48,946 |
| AaveV3Metis_UpdateLegacyGuardian_20241016                           |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Optimism                                                      |               44 |                94 |             24,532 |              49,058 |
| AaveV3OptimismAssets                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3OptimismEModes                                                |               44 |                94 |             24,532 |              49,058 |
| AaveV3OptimismExternalLibraries                                     |               44 |                94 |             24,532 |              49,058 |
| AaveV3Optimism_ReserveFactorUpdatesMidOctober_20241004              |            3,227 |             3,297 |             21,349 |              45,855 |
| AaveV3Optimism_RiskStewardPhase2_20240805                           |              178 |               206 |             24,398 |              48,946 |
| AaveV3Optimism_UpdateLegacyGuardian_20241016                        |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Polygon                                                       |               44 |                94 |             24,532 |              49,058 |
| AaveV3PolygonAssets                                                 |               44 |                94 |             24,532 |              49,058 |
| AaveV3PolygonEModes                                                 |               44 |                94 |             24,532 |              49,058 |
| AaveV3PolygonExternalLibraries                                      |               44 |                94 |             24,532 |              49,058 |
| AaveV3Polygon_ReserveFactorUpdatesMidOctober_20241004               |            3,226 |             3,296 |             21,350 |              45,856 |
| AaveV3Polygon_RiskStewardPhase2_20240805                            |              178 |               206 |             24,398 |              48,946 |
| AaveV3Polygon_UpdateLegacyGuardian_20241016                         |            1,062 |             1,393 |             23,514 |              47,759 |
| AaveV3Scroll                                                        |               44 |                94 |             24,532 |              49,058 |
| AaveV3ScrollAssets                                                  |               44 |                94 |             24,532 |              49,058 |
| AaveV3ScrollEModes                                                  |               44 |                94 |             24,532 |              49,058 |
| AaveV3ScrollExternalLibraries                                       |               44 |                94 |             24,532 |              49,058 |
| AaveV3Scroll_RiskStewardPhase2_20240805                             |              178 |               206 |             24,398 |              48,946 |
| AaveV3Scroll_UpdateLegacyGuardian_20241016                          |            1,062 |             1,393 |             23,514 |              47,759 |
| Address                                                             |               44 |                94 |             24,532 |              49,058 |
| ChainHelpers                                                        |               44 |                94 |             24,532 |              49,058 |
| ChainIds                                                            |               44 |                94 |             24,532 |              49,058 |
| Client                                                              |              109 |               160 |             24,467 |              48,992 |
| CollectorUtils                                                      |               44 |                94 |             24,532 |              49,058 |
| ConfiguratorInputTypes                                              |               44 |                94 |             24,532 |              49,058 |
| Create2Utils                                                        |              121 |               172 |             24,455 |              48,980 |
| Create2UtilsZkSync                                                  |              104 |               155 |             24,472 |              48,997 |
| DataTypes                                                           |               44 |                94 |             24,532 |              49,058 |
| ERC1967Proxy                                                        |              129 |             1,179 |             24,447 |              47,973 |
| EngineFlags                                                         |               44 |                94 |             24,532 |              49,058 |
| Errors                                                              |            4,652 |             4,705 |             19,924 |              44,447 |
| GovV3Helpers                                                        |            2,517 |             2,570 |             22,059 |              46,582 |
| GovV3StorageHelpers                                                 |               44 |                94 |             24,532 |              49,058 |
| GovernanceGuardians                                                 |              292 |               345 |             24,284 |              48,807 |
| GovernanceV3Arbitrum                                                |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Avalanche                                               |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3BNB                                                     |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Base                                                    |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Ethereum                                                |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Gnosis                                                  |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Metis                                                   |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Optimism                                                |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Polygon                                                 |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3PolygonZkEvm                                            |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3Scroll                                                  |               44 |                94 |             24,532 |              49,058 |
| GovernanceV3ZkSync                                                  |               44 |                94 |             24,532 |              49,058 |
| IpfsUtils                                                           |               44 |                94 |             24,532 |              49,058 |
| MiscArbitrum                                                        |               44 |                94 |             24,532 |              49,058 |
| MiscAvalanche                                                       |               44 |                94 |             24,532 |              49,058 |
| MiscBNB                                                             |               44 |                94 |             24,532 |              49,058 |
| MiscBase                                                            |               44 |                94 |             24,532 |              49,058 |
| MiscEthereum                                                        |               44 |                94 |             24,532 |              49,058 |
| MiscGnosis                                                          |               44 |                94 |             24,532 |              49,058 |
| MiscMetis                                                           |               44 |                94 |             24,532 |              49,058 |
| MiscOptimism                                                        |               44 |                94 |             24,532 |              49,058 |
| MiscPolygon                                                         |               44 |                94 |             24,532 |              49,058 |
| MiscScroll                                                          |               44 |                94 |             24,532 |              49,058 |
| Payloads                                                            |               44 |                94 |             24,532 |              49,058 |
| PayloadsControllerUtils                                             |               44 |                94 |             24,532 |              49,058 |
| ProtocolGuardians                                                   |              292 |               345 |             24,284 |              48,807 |
| ProxyAdmin                                                          |            1,592 |             1,714 |             22,984 |              47,438 |
| ProxyHelpers                                                        |               44 |                94 |             24,532 |              49,058 |
| RateLimiter                                                         |               44 |                94 |             24,532 |              49,058 |
| RenewalV2BasePayload                                                |              348 |               595 |             24,228 |              48,557 |
| RenewalV3BasePayload                                                |            1,062 |             1,509 |             23,514 |              47,643 |
| ReserveConfiguration                                                |              128 |               179 |             24,448 |              48,973 |
| RewardsDataTypes                                                    |               44 |                94 |             24,532 |              49,058 |
| SafeERC20                                                           |               44 |                94 |             24,532 |              49,058 |
| StorageHelpers                                                      |               44 |                94 |             24,532 |              49,058 |
| StorageSlot                                                         |               44 |                94 |             24,532 |              49,058 |
| TestNetChainIds                                                     |               44 |                94 |             24,532 |              49,058 |
| TransparentUpgradeableProxy                                         |            2,000 |             3,429 |             22,576 |              45,723 |
| WadRayMath                                                          |               44 |                94 |             24,532 |              49,058 |
Test error :finnadie:
No files changed, compilation skipped
2024-11-07T09:51:31.379242Z ERROR sharedbackend: Failed to send/recv `basic` err=failed to get account for 0x43506849D7C04F9138D1A2050bbF3A0c054402dd: Max retries exceeded HTTP error 429 with body: error code: 1015 address=0x43506849D7C04F9138D1A2050bbF3A0c054402dd

Ran 1 test for src/20241024_AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance/AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance_20241024.t.sol:AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance_20241024_Test
[FAIL: backend: failed while inspecting; database error: failed to get account for 0x43506849D7C04F9138D1A2050bbF3A0c054402dd: Max retries exceeded HTTP error 429 with body: error code: 1015; failed to get account for 0x43506849D7C04F9138D1A2050bbF3A0c054402dd: Max retries exceeded HTTP error 429 with body: error code: 1015; ] test_defaultProposalExecution() (gas: 0)
Suite result: FAILED. 0 passed; 1 failed; 0 skipped; finished in 9.03s (8.36s CPU time)

Ran 1 test suite in 9.03s (9.03s CPU time): 0 tests passed, 1 failed, 0 skipped (1 total tests)

Failing tests:
Encountered 1 failing test in src/20241024_AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance/AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance_20241024.t.sol:AaveV3EthereumLido_WETHReserveBorrowRateUpdateLidoInstance_20241024_Test
[FAIL: backend: failed while inspecting; database error: failed to get account for 0x43506849D7C04F9138D1A2050bbF3A0c054402dd: Max retries exceeded HTTP error 429 with body: error code: 1015; failed to get account for 0x43506849D7C04F9138D1A2050bbF3A0c054402dd: Max retries exceeded HTTP error 429 with body: error code: 1015; ] test_defaultProposalExecution() (gas: 0)

Encountered a total of 1 failing tests, 0 tests succeeded

…oInstance/WETHReserveBorrowRateUpdateLidoInstance.md

Co-authored-by: Harsh Pandey <[email protected]>
LucasWongC and others added 3 commits November 12, 2024 10:15
…oInstance/WETHReserveBorrowRateUpdateLidoInstance.md

Co-authored-by: Ian Flexa <[email protected]>
…oInstance/WETHReserveBorrowRateUpdateLidoInstance.md

Co-authored-by: Ian Flexa <[email protected]>
…oInstance/WETHReserveBorrowRateUpdateLidoInstance.md

Co-authored-by: Ian Flexa <[email protected]>
ianflexa
ianflexa previously approved these changes Nov 12, 2024
…kenLogic-com-au/aave-proposals-v3 into weth-rate-slope1-update-lido-instance
@brotherlymite
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Hey @LucasWongC, I think we can close this PR as rate updates on WETH for Lido Instance would now be part of automated RiskStewards which is activated now via this proposal, if some updates can not be a part of the automated RiskSteward it can also be updated via manual RiskStewards as the params to update are within RiskStewards boundaries to update in one go.

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4 participants