Merge pull request #1 from bgd-labs/feat/risk-stewards

feat: risk stewards

.gitmodules

@@ -1,3 +1,3 @@
-[submodule "lib/forge-std"]
-	path = lib/forge-std
-	url = https://github.com/foundry-rs/forge-std
+[submodule "lib/protocol-v3.1-upgrade"]
+	path = lib/protocol-v3.1-upgrade
+	url = https://github.com/bgd-labs/protocol-v3.1-upgrade

LICENSE

@@ -1,7 +1,117 @@
-Copyright 2022 BGD Labs
+Business Source License 1.1
 
-Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions:
+License text copyright (c) 2020 MariaDB Corporation Ab, All Rights Reserved.
+“Business Source License” is a trademark of MariaDB Corporation Ab.
 
-The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
+-----------------------------------------------------------------------------
 
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+Parameters
+
+Licensor:             Aave DAO, represented by its governance smart contracts
+
+
+Licensed Work:        Aave v3.1
+                      The Licensed Work is (c) 2024 Aave DAO, represented by its governance smart contracts
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+
+Change Date:          The earlier of:
+                      - 2027-03-06
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README.md

@@ -1 +1,69 @@
 # Aave Risk Stewards Phase 2
+
+Expanding from the scope of from CapsPlusRiskSteward, we now introduce the new RiskSteward, allowing hardly constrained risk parameter updates by risk service providers and reducing governance overhead.
+
+## Specification
+
+The new RiskSteward we propose follows the same design as the CapsPlusRiskSteward: a smart contract to which the Aave Governance gives `POOL_ADMIN` the role over all v3 instances, controlled by a 2-of-2 multi-sig of the risk providers, and heavily constrained on what can do and how by its own logic.
+
+_Note: The Risk Stewards 2 will only be available for Aave V3 instances and not Aave V2 due to missing admin roles on Aave V2 instances._
+
+The following risk params could be changed by the RiskStewards:
+
+- Supply Caps
+- Borrow Caps
+
+- LTV
+- Liquidation Threshold
+- Liquidation Bonus
+- Debt Ceiling
+
+- Base variable borrow rate
+- Slope 1
+- Slope 2
+- Optimal point
+
+#### Min Delay:
+
+For each risk param, `minDelay` can be configured, which is the minimum amount of delay (denominated in seconds) required before pushing another update for the risk param. Please note that this is specific for a risk param and includes both in upwards and downwards direction. Ex. after increasing LTV by 5%, we must wait by `minDelay` before either increasing it again or decreasing it.
+
+#### Max Percent Change:
+
+For each risk param, `maxPercentChange` which is the maximum percent change allowed (both upwards and downwards) for the risk param using the RiskStewards.
+
+- Supply cap, Borrow cap and Debt ceiling: The `maxPercentChange` is relative and is denominated in BPS. (Ex. `50_00` for +-50% relative change).
+For example, for a current supply cap of an asset at 1_000_000 and `maxPercentChange` configured for supply cap at `50_00`, the max supply cap that can be configured is 1_500_000 and the minimum 500_000 via the steward.
+
+- LTV, LT, LB: The `maxPercentChange` is in absolute values and is also denominated in BPS. (Ex. `5_00` for +-5% change in LTV).
+For example, for a current LTV of an asset configured at 70_00 (70%) and  `maxPercentChange` configured for ltv at `10_00`, the max ltv that can be configured is 77_00 (77%) and the minimum 63_00 (63%) via the steward.
+
+- Interest rates params: For Base Variable Borrow Rate, Slope 1, Slope 2, uOptimal the `maxPercentChange` is in absolute values and is denominated in BPS.
+For example, for a current uOptimal of an asset configured at 50_00 (50%) and  `maxPercentChange` configured for uOptimal at `10_00`, the max ltv that can be configured is 55_00 (55%) and the minimum 45_00 (45%) via the steward.
+
+After the activation proposal, these params could only be changed by the governance by calling the `setRiskConfig()` method.
+
+_Note: The Risk Stewards will not allow setting the values to 0 for supply cap, borrow cap, debt ceiling, LTV, Liquidation Threshold, Liquidation Bonus no matter if the maxPercentChange has been configured to 100%. The Risk Stewards will however allow setting the value to 0 for interest rate param updates._
+
+#### Restricted Assets:
+
+Some assets can also be restricted on the RiskStewards by calling the `setAssetRestricted()` method. This prevents the RiskStewards to make any updates on the specific asset. One example of the restricted asset could be GHO.
+
+### Setup
+
+```sh
+cp .env.example .env
+forge install
+```
+
+### Test
+
+```sh
+forge test
+```
+
+## License
+
+Copyright © 2024, Aave DAO, represented by its governance smart contracts.
+
+The [BUSL1.1](./LICENSE) license of this repository allows for any usage of the software, if respecting the Additional Use Grant limitations, forbidding any use case damaging anyhow the Aave DAO's interests.
+Interfaces and other components required for integrations are explicitly MIT licensed.

foundry.toml

@@ -3,6 +3,7 @@ src = 'src'
 test = 'tests'
 script = 'scripts'
 out = 'out'
+solc = '0.8.19'
 libs = ['lib']
 remappings = [
 ]

package.json

@@ -11,7 +11,7 @@
   },
   "keywords": [],
   "author": "BGD labs",
-  "license": "MIT",
+  "license": "BUSL-1.1",
   "bugs": {
     "url": "https://github.com/bgd-labs/aave-risk-stewards-2/issues"
   },

remappings.txt

@@ -0,0 +1,10 @@
+ds-test/=lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/forge-std/lib/ds-test/src/
+forge-std/=lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/forge-std/src/
+aave-v3-origin/=lib/protocol-v3.1-upgrade/lib/aave-v3-origin/src
+aave-helpers/=lib/protocol-v3.1-upgrade/lib/aave-helpers/src
+aave-address-book/=lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/aave-address-book/src/
+solidity-utils/=lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/solidity-utils/src
+lib/aave-v3-origin:aave-v3-core/=lib/aave-v3-origin/src/core
+lib/aave-v3-origin:aave-v3-periphery/=lib/aave-v3-origin/src/periphery/
+lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/aave-address-book:aave-v3-core/=lib/protocol-v3.1-upgrade/lib/aave-helpers/lib/aave-address-book/lib/aave-v3-core/
+lib/aave-helpers:aave-v3-core/=lib/aave-helpers/lib/aave-address-book/lib/aave-v3-core/