BGD. Aave <> BNB Chain. Infrastructure/technical evaluation

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Bgdlabs conducted a technical analysis of the BNB network as a potential host for the Aave liquidity protocol, finding it compatible with Ethereum standards and supporting transaction simulations. However, concerns were raised about centralization and bridged assets, suggesting a community vote to decide on deploying Aave v3 on the BNB chain after an updated risk analysis from ChaosLabs and Gauntlet.

The discussion primarily revolved around the technical analysis of the BNB network as a potential host for the Aave liquidity protocol, conducted by Bgdlabs1. The analysis covered various aspects of the BNB network, including its Oracle Infrastructure, Blockchain Explorer, compatibility with Ethereum RPC Standard and Account Format, and RPC Public Endpoints and Providers. The BNB chain was found to be compatible with the Ethereum nodes RPC de-facto standard and Ethereum account format, and it supports transaction simulations using different libraries/frameworks like Hardhat, Foundry, or Tenderly1.

Bgdlabs also discussed the BNB chain's bridging infrastructure, noting that while the "official bridge" only allows permissioned bridging from BC <-> BNB, not ETHEREUM <-> BNB, trusted bridges like layer zero allow permissionless bridging from ETHEREUM to BNB chain1. They also highlighted the importance of having proper mechanisms and procedures to prevent and react to security incidents, mentioning an ongoing bug bounty program on bugcrowd and a community initiative with tooling to prevent hacks1.

In terms of decentralization, BSC currently has 50 validators, 29 of which are active. Bgdlabs concluded that the BNB chain is an acceptable network candidate in regard to technical requirements, with no current hard blocker for the Aave v3 protocol to work properly. However, they noted that centralization and bridged assets are the weaker aspects of the infrastructure1. They suggested that the community should decide if the risks associated with centralization are worth it, considering non-technical factors as well. They proposed an updated risk analysis from ChaosLabs and Gauntlet, followed by a final Snapshot vote for the community to approve the deployment and activation of Aave v3 on the BNB chain1. Both ChaosLabs and Gauntlet have provided updates on the recommended parameters for the BNB launch 2,3.

Posted 6 months ago

Last reply 5 months ago

Summary updated 2 months ago

Last updated 09/12 13:52