[TEMP CHECK] Add EURC to BASE Aave V3
Author: ACI (Aave Chan Initiative)
Date: in 2025-01-13
Simple Summary:
This TEMP CHECK proposes to add EURC on Base V3. EURC is Circle’s EUR-backed stablecoin, enhancing liquidity and expanding the platform’s appeal to European users. Original proposal is [TEMP CHECK] Add EURC to BASE Aave V3 but has been reformatted to be governance compliant.
Motivation/Background:
EURC is a fully backed stablecoin pegged to the Euro, issued by Circle, the same entity behind USDC. It is a reliable and transparent Euro-denominated asset gaining adoption across DeFi protocols.
- Utility and Role: EURC facilitates Euro-based transactions in DeFi, allowing for a stable store of value and an efficient medium of exchange within the ecosystem.
- Backers: Circle is a trusted issuer with a track record of regulatory compliance, providing confidence in EURC’s stability.
- Performance: EURC has demonstrated consistent performance and adoption within the broader DeFi space such as Morpho (3M), Alien(4M) and Aerodome (3M).
- Euro Liquidity: EURC will offer Aave users access to Euro-denominated liquidity, appealing to the European market.
- Broader User Base: Listing EURC could attract new users from Europe, diversifying Aave’s stablecoin offerings.
- Increased Liquidity: The addition of EURC can enhance liquidity across Aave’s markets, improving lending, borrowing, and trading experiences.
Chain to be Deployed/Listed:
- Chain: Base
- Parameters: Initial Risk Parameters will be provided by Risk service providers during the ARFC phase.
Useful Links
Project: Circle | USDC & Web3 Services for a new financial system
Documentation: EURC | A Euro-Backed Stablecoin
Base Contract: 0x60a3e35cc302bfa44cb288bc5a4f316fdb1adb42
Base Chainlink Oracle: EURC / USD Price Feed | Chainlink
Disclaimer
This proposal is powered by Skywards. ACI is not affiliated with original author (shanenolan) and did not receive compensation for the creation of this proposal.
Next Steps
- If consensus is reached on this proposal, escalate this proposal to the Snapshot stage.
- Publish an ARFC and get community and risk service providers feedback, and escalate to Snapshot stage.
- 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.
Off-Chain Vote
YAE
759.93K AAVE100%
NAY
0.03 AAVE0%
Abstain
0.02 AAVE0%
Timeline
Jan 13, 2025Proposal created
Jan 14, 2025Proposal vote started
Jan 17, 2025Proposal vote ended
Feb 12, 2026Proposal updated