Title: [ARFC] Add rlUSD to Core Instance
Author: Tokenlogic & ACI (Aave Chan Initiative)
Date: 2024-12-16
ARFC has been updated with latest Risk Parameters 2024-12-23
Summary
This publication proposes onboardin Ripple's rlUSD stablecoin to the Core instance of Aave v3 on Ethereum.
Motivation
rlUSD has received NYDFS approval and is anticipated to launch in the near future. Whilst the date is unknown and subject to speculation, this proposals prepares the Aave Protocol to support the listing.
With rlUSD now transferrable and circulating supply at 52.9M (15th December 2024), this ARFC proposes onboarding rlUSD with conservative risk parameters pending a Chainlink Oracle.
Specification
Ticker: rlUSD
Contract address on mainnet: 0x8292Bb45bf1Ee4d140127049757C2E0fF06317eD
Chainlink oracle: soon
Project: https://ripple.com/
GitHub: https://github.com/fbtc-xyz/fbtc-contract
Docs: https://docs.ripple.com/stablecoin/developer-resources/rlusd-on-ethereum
Twitter: https://x.com/Ripple
Initial Risk Parameters are shared, being aware that those can be subject to changes per Risk Service Providers feedback, and ARFC would be updated accordingly.
| Parameter | Value (Ethereum) |
|---|---|
| Isolation Mode | No |
| Borrowable | Yes |
| Collateral Enabled | No |
| Supply Cap | - |
| Borrow Cap | - |
| Debt Ceiling | - |
| LTV | - |
| LT | - |
| Liquidation Bonus | - |
| Liquidation Protocol Fee | - |
| Variable Base | 0% |
| Variable Slope1 | 12.5% |
| Variable Slope2 | 50% |
| Uoptimal | 80% |
| Reserve Factor | 10% |
| Stable Borrowing | Disabled |
| Flashloanable | Yes |
| Siloed Borrowing | No |
| Borrowable in Isolation | No |
| E-Mode Category | N/A |
| Parameter | Value | Value | Value | Value | Value |
|---|---|---|---|---|---|
| Asset sUSDe | sUSDe | USDT | USDS | USDC | rlUSD |
| Collateral | Yes | No | No | No | No |
| Borrowable | No | Yes | Yes | Yes | Yes |
| Max LTV | 90% | - | - | - | - |
| Liquidation Threshold | 92% | - | - | - | - |
| Liquidation Bonus | 3.0% | - | - | - | - |
Disclosure
Neither TokenLogic or ACI have received payment for the publication of this proposal.
Next Steps
- Gather feedback from the community.
- If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
- If Snapshot outcome is YAE, an AIP will implement proposal.
Copyright
Copyright and related rights waived via CC0.
Off-Chain Vote
YAE
859.95K AAVE100%
NAY
3.25 AAVE0%
Abstain
0.02 AAVE0%
Discussion
Timeline
Dec 30, 2024Proposal created
Dec 31, 2024Proposal vote started
Jan 03, 2025Proposal vote ended
Feb 03, 2026Proposal updated