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DhairyaSethi authored Jan 6, 2025
2 parents e90cf74 + 393fc57 commit 12ec93d
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## Reserve changes

### Reserves altered

#### GHO ([0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f](https://etherscan.io/address/0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f))

| description | value before | value after |
| --- | --- | --- |
| aTokenUnderlyingBalance | 6,108,315.1602 GHO [6108315160265916496775469] | 16,108,315.1602 GHO [16108315160265916496775469] |
| virtualBalance | 6,108,315.1602 GHO [6108315160265916496775469] | 16,108,315.1602 GHO [16108315160265916496775469] |


## Raw diff

```json
{
"reserves": {
"0x40D16FC0246aD3160Ccc09B8D0D3A2cD28aE6C2f": {
"aTokenUnderlyingBalance": {
"from": "6108315160265916496775469",
"to": "16108315160265916496775469"
},
"virtualBalance": {
"from": "6108315160265916496775469",
"to": "16108315160265916496775469"
}
}
}
}
```
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## Emodes changed

### EMode: ETH correlated(id: 1)



### EMode: LRT Stablecoins main(id: 2)



### EMode: LRT wstETH main(id: 3)



### EMode: sUSDe Stablecoins(id: 4)

| description | value before | value after |
| --- | --- | --- |
| eMode.label (unchanged) | sUSDe Stablecoins | sUSDe Stablecoins |
| eMode.ltv (unchanged) | 90 % | 90 % |
| eMode.liquidationThreshold (unchanged) | 92 % | 92 % |
| eMode.liquidationBonus | 3 % | 4 % |
| eMode.borrowableBitmap | USDS, USDC, GHO | USDC, GHO |
| eMode.collateralBitmap (unchanged) | sUSDe | sUSDe |


### EMode: rsETH LST main(id: 5)



## Raw diff

```json
{
"eModes": {
"4": {
"borrowableBitmap": {
"from": "76",
"to": "72"
},
"liquidationBonus": {
"from": 10300,
"to": 10400
}
}
}
}
```
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## Emodes changed

### EMode: ETH correlated(id: 1)



### EMode: sUSDe Stablecoins(id: 2)

| description | value before | value after |
| --- | --- | --- |
| eMode.label (unchanged) | sUSDe Stablecoins | sUSDe Stablecoins |
| eMode.ltv (unchanged) | 90 % | 90 % |
| eMode.liquidationThreshold (unchanged) | 92 % | 92 % |
| eMode.liquidationBonus | 3 % | 4 % |
| eMode.borrowableBitmap (unchanged) | USDC, USDT, USDS | USDC, USDT, USDS |
| eMode.collateralBitmap (unchanged) | sUSDe | sUSDe |


### EMode: rsETH LST main(id: 3)



## Raw diff

```json
{
"eModes": {
"2": {
"liquidationBonus": {
"from": 10300,
"to": 10400
}
}
}
}
```
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## Reserve changes

### Reserve altered

#### GNO ([0x9C58BAcC331c9aa871AFD802DB6379a98e80CEdb](https://gnosisscan.io/address/0x9C58BAcC331c9aa871AFD802DB6379a98e80CEdb))

| description | value before | value after |
| --- | --- | --- |
| debtCeiling | 2,000,000 $ [200000000] | 0 $ [0] |


#### EURe ([0xcB444e90D8198415266c6a2724b7900fb12FC56E](https://gnosisscan.io/address/0xcB444e90D8198415266c6a2724b7900fb12FC56E))

| description | value before | value after |
| --- | --- | --- |
| reserveFactor | 20 % [2000] | 10 % [1000] |


## Emodes changed

### EMode: ETH correlated(id: 1)



### EMode: sDAI / EURe(id: 2)

| description | value before | value after |
| --- | --- | --- |
| eMode.label | - | sDAI / EURe |
| eMode.ltv | - | 85 % |
| eMode.liquidationThreshold | - | 87.5 % |
| eMode.liquidationBonus | - | 5 % |
| eMode.borrowableBitmap | - | EURe |
| eMode.collateralBitmap | - | sDAI |


## Raw diff

```json
{
"eModes": {
"2": {
"from": null,
"to": {
"borrowableBitmap": "32",
"collateralBitmap": "64",
"eModeCategory": 2,
"label": "sDAI / EURe",
"liquidationBonus": 10500,
"liquidationThreshold": 8750,
"ltv": 8500
}
}
},
"reserves": {
"0x9C58BAcC331c9aa871AFD802DB6379a98e80CEdb": {
"debtCeiling": {
"from": 200000000,
"to": 0
}
},
"0xcB444e90D8198415266c6a2724b7900fb12FC56E": {
"reserveFactor": {
"from": 2000,
"to": 1000
}
}
}
}
```
2 changes: 1 addition & 1 deletion lib/aave-helpers
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---
title: "Aave v3 Gnosis Instance Updates Part 1"
author: "Aave-chan Initiative"
discussions: "https://governance.aave.com/t/arfc-aave-v3-gnosis-instance-updates/20334"
snapshot: "https://snapshot.box/#/s:aave.eth/proposal/0x2e93ddd01ba5ec415b0962907b7c65def947d1ed94f1e5b402c5578560b1dddb"
---

## Simple Summary

This AIP proposes several updates to the Aave v3 Gnosis instance to improve capital efficiency and add new use cases on the network. The key changes include removing GNO from isolation mode, adjusting the reserve factor for EURe, and creating a new relevant E-mode.

## Motivation

GNO has demonstrated strong stability and market presence on Gnosis Chain, making isolation mode unnecessarily restrictive and hindering network growth. Removing GNO from isolation mode will facilitate further expansion of the network.

The reduction in the EURe reserve factor aligns with the asset's performance and incentivizes increased lending activity.

introducing a new E-mode for sDAI & EURe will enhance capital efficiency and foster synergies between stable assets. The unique combination of EUR and USD borrowing opportunities is a distinct advantage for Gnosis Chain.

## Specification

### Rates and parameters updates

- Remove GNO from isolation mode
- change EURe Reserve Factor from 20% to 10%

### E-Modes

The followings E-mode will be created:

| **Parameter** | **Value** | **Value** |
| --------------------- | --------- | --------- |
| Asset | sDAI | EURe |
| Collateral | Yes | No |
| Borrowable | No | Yes |
| Max LTV | 85% | 85% |
| Liquidation Threshold | 87.5% | 87.5% |
| Liquidation Bonus | 5% | 5% |

## References

- Implementation: [AaveV3Gnosis](https://github.com/bgd-labs/aave-proposals-v3/blob/0ddae1e40d3255d4a2ff2768ae707bcb99a4aa9e/src/20241224_AaveV3Gnosis_AaveV3GnosisInstanceUpdates/AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224.sol)
- Tests: [AaveV3Gnosis](https://github.com/bgd-labs/aave-proposals-v3/blob/0ddae1e40d3255d4a2ff2768ae707bcb99a4aa9e/src/20241224_AaveV3Gnosis_AaveV3GnosisInstanceUpdates/AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224.t.sol)
- [Snapshot](https://snapshot.box/#/s:aave.eth/proposal/0x2e93ddd01ba5ec415b0962907b7c65def947d1ed94f1e5b402c5578560b1dddb)
- [Discussion](https://governance.aave.com/t/arfc-aave-v3-gnosis-instance-updates/20334)

## Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
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// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;

import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/src/GovV3Helpers.sol';
import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
import {EthereumScript, GnosisScript} from 'solidity-utils/contracts/utils/ScriptUtils.sol';
import {AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224} from './AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224.sol';

/**
* @dev Deploy Gnosis
* deploy-command: make deploy-ledger contract=src/20241224_AaveV3Gnosis_AaveV3GnosisInstanceUpdates/AaveV3GnosisInstanceUpdates_20241224.s.sol:DeployGnosis chain=gnosis
* verify-command: FOUNDRY_PROFILE=gnosis npx catapulta-verify -b broadcast/AaveV3GnosisInstanceUpdates_20241224.s.sol/100/run-latest.json
*/
contract DeployGnosis is GnosisScript {
function run() external broadcast {
// deploy payloads
address payload0 = GovV3Helpers.deployDeterministic(
type(AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224).creationCode
);

// compose action
IPayloadsControllerCore.ExecutionAction[]
memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
actions[0] = GovV3Helpers.buildAction(payload0);

// register action at payloadsController
GovV3Helpers.createPayload(actions);
}
}

/**
* @dev Create Proposal
* command: make deploy-ledger contract=src/20241224_AaveV3Gnosis_AaveV3GnosisInstanceUpdates/AaveV3GnosisInstanceUpdates_20241224.s.sol:CreateProposal chain=mainnet
*/
contract CreateProposal is EthereumScript {
function run() external {
// create payloads
PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);

// compose actions for validation
IPayloadsControllerCore.ExecutionAction[]
memory actionsGnosis = new IPayloadsControllerCore.ExecutionAction[](1);
actionsGnosis[0] = GovV3Helpers.buildAction(
type(AaveV3Gnosis_AaveV3GnosisInstanceUpdates_20241224).creationCode
);
payloads[0] = GovV3Helpers.buildGnosisPayload(vm, actionsGnosis);

// create proposal
vm.startBroadcast();
GovV3Helpers.createProposal(
vm,
payloads,
GovernanceV3Ethereum.VOTING_PORTAL_ETH_POL,
GovV3Helpers.ipfsHashFile(
vm,
'src/20241224_AaveV3Gnosis_AaveV3GnosisInstanceUpdates/AaveV3GnosisInstanceUpdates.md'
)
);
}
}
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