[TEMP CHECK] Aave V3 "MVP" Deployment on GnosisChain

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Title : [TEMP CHECK] Aave V3 "MVP" Deployment on GnosisChain

Author : Marc Zeller @marczeller - Aave Chan Initiative

Date : 2023-08-16

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Summary

This TEMP CHECK proposes the deployment of an Aave V3 pool on GnosisChain. The assets considered for this deployment include wETH, wstETH, GNO, USDC, wxDAI, and EURe.

Motivation

Aave & GnosisChain with the upcoming deployment of GnosisPay L2 payment system and GnosisCard product have strategic synergies opportunities. Allowing users to “deposit as collateral, borrow and spend with Gnosis” seamless and near-zero fees experience.

GnosisChain has been a historic actor in the ecosystem, with its roots tracing back to the POA network.

This proposal builds upon the precedent of synergies between the Aave codebase and the gnosischain as illustrated by the friendly fork RMM Market with RealT, as seen here.

This “MVP” deployment opens the gates for deeper synergies between the Gnosis & Aave ecosystems in the future.

Specification

The proposed deployment on GnosisChain will include the following assets:

Risk Parameter	wETH	wstETH	GNO	USDC	wxDAI	EURe
Isolation Mode	NO	NO	YES	NO	NO	NO
Enable Borrow	YES	YES	NO	YES	YES	YES
Enable Collateral	YES	YES	YES	YES	YES	NO
Emode Category	N/A	N/A	N/A	N/A	N/A	N/A
Loan To Value	80.5%	69%	25%	77%	77%	N/A
Liquidation Threshold	83%	80%	28%	80%	80%	N/A
Liquidation Bonus	5%	6%	10%	4.5%	4.5%	N/A
Reserve Factor	15%	15%	N/A	10%	10%	15%
Liquidation Protocol Fee	10%	10%	10%	10%	10%	10%
Supply Cap	7500 wETH	2000 wsETH	300000	5M USDC	10M xDAI	3.5M EURe
Borrow Cap	7500 wETH	500 wstETH	N/A	5M USDC	10M xDAI	3.5M EURe
Debt Ceiling	N/A	N/A	5M$	N/A	N/A	N/A
uOptimal	90%	45%	N/A	90%	90%	90%
Base	0%	0%	N/A	0%	0%	0%
Slope1	3.8%	3.8%	N/A	3.5%	5%	5%
Slope2	80%	80%	N/A	60%	60%	60%

Even if both assets currently lack the maturity to be considered, the ACI is supportive mid-term of adding both wGHO and sDAI onboarding in the GnosisChain V3 pool.

Disclaimer

The Aave Chan Initiative is not affiliated with or paid by any third parties to publish this TEMP CHECK. The ACI, as an entity, is a customer of Monerium. (EURe)

Next Steps

1. If TEMP CHECK snapshot outcome is YAE, escalate to ARFC stage. and create a deployment checklist process.
2. If ARFC stage requirements are met, escalate to ARFC snapshot
3. If ARFC Snapshot outcome is YAE, Publish a deployment AIP.

Copyright

Copyright and related rights waived via CC0.