Aave v3 Code

Our Lending and Borrowing is a fork of Aave V3 code, that they graciously allow anyone to use. These contracts, once deployed, cannot be upgraded, so we are completely unable to access anything that they didn’t mean for admins to access. We will describe the things we can change that are important for BetterBank, but a full list can be found here in Aave’s documentation.

Lending pool contracts

The BetterBank team cannot ever access any deposited tokens that can serve as collateral or are borrowable. There is a rescue token option, but that option only works for delisted tokens accidentally sent to the contract. This means that if you lose access to or suffer from exploitation that compromises the security of the wallet with which you have deployed collateral, we cannot help you. This inability however means absolute safety. There is simply no possibility for anyone but you to withdraw your assets, ever.

Setting interest rates and lending spreads

The BetterBank team can change the interest rates and also the spread between paid interest and received interest. We don’t plan on changing these, though and instead we plan on sticking by the settings we explain elsewhere in the docs. But should we need to change something, we can.

Borrow caps & collateral caps

The BetterBank team can set a maximum to either of these values, per token. We use this in the background as an extra layer for safety, in such a way that normal use should not ever reach the caps. We can use this feature also if we ever want to delist a token, as we can phase out a token by lowering these values over time.

Listing, delisting, and isolating

Obviously we can list new tokens and delist them too. And we can “isolate” markets, meaning that certain collateral can only be used to borrow certain assets.