Freeze price feeds on v3 Harmony following shutdown of Harmony services by Chainlink
Simple Summary
Following Chainlink’s Harmony deprecation, replace all existing price feeds by Chainlink on Aave v3 Harmony with fixed price adapters (with the last known Chainlink price).
Additionally, update interest rate strategies to one with exact zero values.
Motivation
As Harmony remains unstable following the bridge exploit, and Chainlink is planning to shut down all the price feeds on the network, we believe that the most neutral solution (since there are still users who can withdraw) is to replace the Chainlink feeds with fixed adapters that return the last available price.
Additionally, since the pool dynamics are non-functional, accruing any debt makes no difference, even if it was already set to minimal. Therefore, we are going to replace the interest rate strategies for every asset with a zero-interest one.
Specification
Call AaveV3Harmony.ORACLE.setAssetSources() passing the appropriate parameters to replace the price feeds of the assets on the Aave v3 Harmony Pool.
For each asset on the pool, call PoolConfigurator.setReserveInterestRateStrategyAddress(asset, zeroInterestRateStrategy) to replace their rate strategy.
References
- Implementation: AaveV3Harmony
- Tests: AaveV3Harmony
- Discussion
Being a deprecated Aave pool and technically not covered by cross-chain governance, this proposal authorises the Aave Guardian to execute the described payload.
Copyright
Copyright and related rights waived via CC0.
| Voter | Cast Power | Vote & Rationale |
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 0x329c...543eD4 | 109,614 | For |
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Proposal Status
- Tue November 28 2023, 02:32 pmVoting Period Starts
- Fri December 01 2023, 02:32 pmEnd Voting Period
Current Results
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2-Abstain
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3-Against
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