LlamaRisk proposed doubling Aave V4 Spoke caps and raising stablecoin rates

What happened

LlamaRisk proposed raising caps for the Maple Spoke on Arc and the Ethena Ecosystem Spoke on Ethereum, and changing the stablecoin rate curves on the Ethereum Plus Hub.

What changed

The proposal doubles the Arc Maple USDC draw cap to 46 million and the syrupUSDC add cap to 50 million. On the Ethereum Plus Hub it sets a 40 million USDe add cap, 12 million add and draw caps for USDC and USDT, and higher rate parameters.

What did not change

Ketju has not found that the changes executed, and they give no reason to review Aave V4 again. The Aave V3 configuration does not change.

Confirmed

• The recommendation raises the Arc Maple USDC draw cap from 23 million to 46 million and the syrupUSDC add cap from 25 million to 50 million.
• The recommendation raises the Ethereum Plus Hub USDC and USDT slope1 from 4.50% to 4.60% and the USDe base rate from 6.30% to 6.60%.
• The author states that the changes will go through the Risk Steward process.

Still open

• Ketju has not verified the implementation transactions or the live parameters after the change.
• Ketju must reproduce the live liquidity of the matching asset, which the memo uses as the denominator, before it can test the memo's limit on Spoke draw caps.

What it means for an advisor

• Ketju will add the proposed limits for each Spoke to its Aave V4 file and check them against the liquidity limit the memo names.
• Ketju does not approve Aave V4 and will review it again only after governance executes the change and Ketju reproduces it from the live contracts.