[ARFC] Onboard AgEUR to Aave Optimism V3

Summary

AgEUR is a decentralized, overcollateralized stablecoin minted by the Angle protocol. Users of the Angle Protocol can mint AgEUR by locking collateral in vaults.

For more information about AgEUR, please refer to AgEUR Polygon V3 ARC.

This ARFC presents the Aave governance with an opportunity to onboard AgEUR to Aave Optimism V3 as a non-collateral asset.

Abstract

This ARFC presents the Aave governance with an opportunity to onboard AgEUR to Aave Optimism V3 as a non-collateral asset.

Motivation

AgEUR is the leading EUR-pegged decentralized stablecoin.

While the current market for EUR-pegged stablecoins is still anecdotal, the ACI supports stablecoin diversity in both the USD-pegged flavors and outside of USD-pegged assets.

AgEUR is designed to be efficient and can be minted at fair value using another stablecoin, which helps ensure that the peg remains resilient over time.

The proposed risk parameters are merely suggestions to start the conversation. The ACI is inviting Risk Service Providers to provide feedback on them.

Specification

Ticker: AgEUR (AGEUR)

Contract Address: 0x9485aca5bbBE1667AD97c7fE7C4531a624C8b1ED

Risk Parameter	Value
Isolation Mode	NO
Enable Borrow	YES
Enable Collateral	NO
Loan To Value	N/A
Liquidation Threshold	N/A
Liquidation Bonus	N/A
Reserve Factor	10%
Liquidation Protocol Fee	10%
Borrow Cap	1.5M
Supply Cap	3M
Debt Ceiling	N/A
Base	0%
Slope1	4%
Uoptimal	90%
Slope2	64%

Disclaimer

The Aave-Chan Initiative (ACI) is not associated with or compensated by Angle to publish this AFRC.

As part of its delegate platform, the ACI promotes stablecoin diversity.

At the time of writing, Marc Zeller, the founder of ACI, does not possess any ANGLE, the native asset of the Angle protocol, and holds only a small amount of agEUR.

Copyright

Copyright and related rights waived via CC0,