Proposal 199

README.md

@@ -202,6 +202,7 @@ As of 29th April 2024, Certora is the service provider of the Aave DAO writing t
 | 196 | [Aave v3 GHO Steward v2 Upgrade](./reports/v3-196-aave-v3-Ethereum-and-Arbitrum-GHO-steward-v2-upgrade.md)  |
 | 197 | [Aave v3 Generalized Risk Stewards (AGRS) activation](./reports/v3-197-aave-v3-multichain-generelized-risk-steward-activation.md)  |
 | 198 | [Aave v3 GHO CCIP Integration Maintenance](./reports/v3-198-aave-v3-Ethereum-and-Arbitrum-GHO-CCIP-maintenance.md)  |
+| 199 | [Aave v3 stkAAVE - Re-enable Rewards](./reports/v3-199-aave-v3-Ethereum-reenable-rewards-stkAAVE.md)  |
 
 
 

reports/v3-199-aave-v3-Ethereum-reenable-rewards-stkAAVE.md

@@ -0,0 +1,122 @@
+# Proposal 199. Safety Module stkAAVE - Re-enable Rewards
+
+
+<br>
+
+### Voting link
+
+[https://vote.onaave.com/proposal/?proposalId=199](https://vote.onaave.com/proposal/?proposalId=199)
+
+<br>
+
+### Governance forum discussion
+
+[https://governance.aave.com/t/arfc-amend-safety-module-emissions/16640/13](https://governance.aave.com/t/arfc-amend-safety-module-emissions/16640/13)
+
+<br>
+
+### Payloads
+
+* Ethereum - [proposal payloads](https://etherscan.io/address/0x477307bC08a7BBDbAD2C932B4B77eE96dd2d5B5b#code)
+
+<br>
+
+## Certora analysis
+
+<br>
+
+### Proposal types
+
+:moneybag: :receipt: asset transfer
+
+<br>
+
+### Context
+
+This proposal aims to renewing the AAVE emissions to stkAAVE holders for the following 180 days.
+With the conclusion of the recent reward cycle, this proposal aims to renew $AAVE emissions for stkAAVE holders. The stkAAVE module has proven to be a crucial mechanism as an AAVE supply sink, currently holding a TVL of $480M and accounting for 18.8% of the supply.
+It is recommended to maintain these emissions in anticipation of upcoming Umbrella developments, with adjustments to be made following the outcomes of the Umbrella upgrade.
+
+<br>
+
+### Proposal creation
+
+Transaction: [https://etherscan.io/tx/0xba04900fca46c65797d22df17141e885a666225253829b99c8138623d909dde6](https://etherscan.io/tx/0xba04900fca46c65797d22df17141e885a666225253829b99c8138623d909dde6)
+
+```
+- proposalId: 199
+- creator: 0x57ab7ee15ce5ecacb1ab84ee42d5a9d0d8112922
+- accessLevel: 1
+- ipfsHash: 0x315b3aa83bf146c7733f371552c641726508fc9cb061a159ecacadc0d4eacaa7
+```
+
+<br>
+
+**createProposal() parameters**
+
+```
+{
+  "payloads": [ 
+    { 
+      "chain": "1", 
+      "accessLevel": "1", 
+      "payloadsController": "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5", 
+      "payloadId": "205" 
+    }, 
+  ], 
+  "votingPortal": "0x9b24C168d6A76b5459B1d47071a54962a4df36c3", 
+  "ipfsHash": "0x315b3aa83bf146c7733f371552c641726508fc9cb061a159ecacadc0d4eacaa7" 
+}
+```
+
+<br>
+
+### Aave Seatbelt report
+
+**Proposal report**
+
+[https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/199.md](https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/proposals/199.md)
+
+**Payload reports**
+
+* Ethereum - [https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/205.md](https://github.com/bgd-labs/seatbelt-gov-v3/blob/main/reports/payloads/1/0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5/205.md)
+
+<br>
+
+### Technical analysis
+
+We have verified that the [proposal payload](https://etherscan.io/address/0x477307bC08a7BBDbAD2C932B4B77eE96dd2d5B5b) does the following:
+
+1. **Configure emission of AAVE tokens on [stkAAVE](https://etherscan.io/address/0x4da27a545c0c5B758a6BA100e3a049001de870f5) with the following parameters:**
+   - **Emission**: 360 AAVE per day, set as emission per second (4.1666...e18 wei per second).
+   - **Distribution Duration**: 180 days from proposal execution.
+
+2. **Approve AAVE tokens from the Aave Ecosystem Reserve to stkAAVE, allowing stakers to claim them:**
+   - The contract first resets the current approval of AAVE tokens to zero.
+   - It then sets a new approval amount based on the remaining allowance plus the required distribution amount for the 180-day period.
+   - **Total Approval Amount**: Existing remaining allowance + 64,800 AAVE.
+
+#### Explanation of the Approval Reset Mechanism
+
+To adhere to ERC20 standards and avoid potential race conditions, the contract first sets the current approval to zero before setting a new approval amount. This best practice ensures that any unspent tokens from prior allowances are included in the updated approval, maximizing fund efficiency and preventing token lockup.
+
+#### Summary
+
+This proposal extends AAVE rewards for `stkAAVE` stakers at a rate of 360 AAVE/day for an additional 180 days, ensuring efficient and secure reward distribution from the Ecosystem Reserve.
+
+<br>
+
+The proposal is consistent with the description on both Snapshot and the governance forum.
+
+<br>
+
+### Certora validations
+
+:white_check_mark: The code on the proposal payload corresponds to the proposal specification.
+
+:white_check_mark: The proposal includes a proper tests suite, checking all necessary post-conditions.
+
+:white_check_mark: BGD reviewed the payload before the proposal was submitted.
+
+:white_check_mark: Certora reviewed the procedure followed to submit the proposal.
+