[ARFC] sDAI Onboarding on Aave V3 Gnosis Pool
title: [ARFC] sDAI Onboarding on Aave V3 Gnosis Pool author: @marczeller - Aave-chan Initiative date: 09-10-2023
Summary
This ARFC proposes the onboarding of sDAI into the Aave V3 Gnosischain Pool. With the imminent deployment of Aave V3 on Gnosischain and the recent deployment of sDAI, we believe this integration will further enhance the utility and liquidity of the Aave ecosystem on Gnosischain.
Motivation
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Aave V3 Gnosischain Deployment: The deployment of Aave V3 on Gnosischain is on the horizon. As outlined in the Gnosischain deployment ARFC, sDAI was identified as a prime collateral candidate for Aave. However, at the time of the proposal's creation, sDAI had not been deployed.
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Rapid Growth of sDAI: Since its deployment, sDAI has shown significant traction, attracting $46M in just a few days. This demonstrates the community's trust and the potential of sDAI as a collateral asset in the Aave ecosystem.
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Technical & Timeframe Considerations: We propose the onboarding of sDAI into the Aave V3 Gnosischain deployment, either as part of the initial deployment or through a subsequent onboarding AIP, depending on what's most optimal from both a technical and timeframe perspective.
Specification
- Asset: sDAI
- Contract Address: 0xaf204776c7245bF4147c2612BF6e5972Ee483701
A Price sync adapter oracle considering both wxDAI value and sDAI exchange rate will be implemented as a Price feed for this asset.
Risk Parameters
sDAI is intended to serve as a collateral asset. Given that there's minimal value in borrowing it, we propose its onboarding solely as a collateral asset, without borrowing capabilities.
| Parameter | Value |
|---|---|
| Isolation Mode | NO |
| Borrowable in Isolation | NO |
| Stable Borrow | NO |
| Enable Borrow | NO |
| Enable Collateral | YES |
| Loan To Value | 77% |
| Liquidation Threshold | 80% |
| Liquidation Bonus | 5% |
| Reserve Factor | 10% |
| Liquidation Protocol Fee | 20% |
| Supply Cap | 1.5M sDAI |
| Borrow Cap | N/A |
| Debt Ceiling | N/A |
| uOptimal | N/A |
| Base | N/A |
| Slope1 | N/A |
| Slope2 | N/A |
Next Steps
- If the Snapshot outcome is YAE approved, escalate to the AIP stage.
Disclaimer
The Aave-chan Initiative is not presenting this ARFC on behalf of any third party and is not compensated by any entity for creating this ARFC.
Copyright
Copyright and related rights waived via CC0.
Off-Chain Vote
Timeline
Oct 19, 2023Proposal created
Oct 20, 2023Proposal vote started
Oct 23, 2023Proposal vote ended
Dec 18, 2025Proposal updated