[ARFC] Onboard wbETH to Aave v3 BNB Chain

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[ARFC] Onboard wbETH on Aave V3 BNB Chain

Author: ACI (Aave Chan Initiative)

Date: 2024-04-02

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Summary

This ARFC proposes the addition of wbETH the Binance Liquid Staked ETH Token to Aave V3 BNB Chain to enhance LST liquidity and asset diversity.

Motivation

Liquid Staked Tokens are one of the premier collateral types on Aave and drive most of the ETH borrow demand. wBETH is one of the largest Liquid Staking Tokens on the market and one of the more productive assets available on BNB Chain.

The Aave-Chan Initiative supports LST diversity in Aave V3 and looks to add more LST to the new BNB Chain deployment.

Specification

wbETH: 0xa2E3356610840701BDf5611a53974510Ae27E2e1

Risk parameters

These initial risk parameters have been suggested by Chaos Labs.

Risk Parameters	Value
Isolation Mode	No
Borrowable	Yes
Collateral Enabled	Yes
Supply Cap (wbETH)	3,000
Borrow Cap (wbETH)	300
Debt Ceiling	NA
LTV	67.00%
LT	74.00%
Liquidation Bonus	7.00%
Liquidation Protocol Fee	10.00%
Variable Base	0.0%
Variable Slope1	7.00%
Variable Slope2	300.00%
Uoptimal	45.00%
Reserve Factor	15.00%
Stable Borrowing	Disabled
Stable Slope1	13.00%
Stable Slope2	300.00%
Base Stable Rate Offset	3.00%
Stable Rate Excess Offset	5.00%
Optimal Stable To Total Debt Ratio	20.00%
Flahloanable	No
Siloed Borrowing	No
Borrowed in Isolation	No

CAPO

maxYearlyRatioGrowthPercent	ratioReferenceTime	MINIMUM_SNAPSHOT_DELAY
8.66%	monthly	14 days

Useful links:

Website: https://www.binance.com/en/ethereum-staking

Disclaimer

The ACI is not presenting this ARFC on behalf of any third party and is not compensated for creating this ARFC.

Next Steps

1. If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
2. If the ARFC snapshot outcome is YAE, publish an AIP vote for final confirmation and enforcement of the proposal.

Copyright

Copyright and related rights waived via CC0.