Author: ACI
Date: 2024-09-26
Summary
This proposal aims to onboard sUSDe, USDe, and weETH to the Aave v3 protocol on zkSync. This follows the original plans for further expansion on the network.
Motivation
The integration of sUSDe, USDe, and weETH into Aave v3 on zkSync is following the intitial plan for the zkSync network launch. With the successful launch of Aave v3 on zkSync, and some time for monitoring, we believe it is time to start expanding from the initial asset list.
These onboardings also include partnership with Ethena and EtherFi to add ZK token incentives to each market, which will contribute to Aave’s growth on zkSync.
Proof of Liquidity and Deposit Commitments
Aave DAO received an allocation of ZK during the network’s TGE. Ethena and EtherFi have both pledged to add additional incentives from their own ZK token allocations. These incentives will be used to grow the market with ACI acting as Emissions Manager.
Specification
Risk Parameters have been provided by Risk Service Providers and this ARFC has been updated based on their assessment. 2024-10-04
| Parameter | weETH | USDe | sUSDe |
|---|---|---|---|
| Isolation Mode | No | Yes | Yes |
| Borrowable | Yes | Yes | No |
| Collateral Enabled | Yes | Yes | Yes |
| Supply Cap | 300 | 500,000 | 400,000 |
| Borrow Cap | 150 | 50,000 | - |
| Debt Ceiling | - | $500,000 | $400,000 |
| LTV | 72.5% | 65% | 65% |
| LT | 75% | 75% | 75% |
| Liquidation Bonus | 7.5% | 8.5% | 8.5% |
| Liquidation Protocol Fee | 10% | 10% | 10% |
| Variable Base | 0% | 0% | - |
| Variable Slope1 | 7% | 9% | - |
| Variable Slope2 | 300% | 75% | - |
| Uoptimal | 30% | 80% | - |
| Reserve Factor | 45% | 25% | 20% |
| Stable Borrowing | Disabled | Disabled | Disabled |
| Flashloanable | Yes | Yes | Yes |
| Siloed Borrowing | Disabled | Disabled | Disabled |
| Borrowable in Isolation | No | No | No |
| E-Mode Category | ETH-correlated | - | - |
Disclaimer
This proposal is powered by Skywards. ACI is not directly affiliated with Ethena or EtherFi and did not receive compensation for creation this proposal. ACI is a delegate in EtherFi. ACI and its members hold weETH.
Next Steps
- If consensus is reached on this [ARFC], escalate this proposal to the 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 under CC0
Off-Chain Vote
YAE
773.31K AAVE100%
NAE
2.85 AAVE0%
ABSTAIN
0.12 AAVE0%
Timeline
Oct 04, 2024Proposal created
Oct 05, 2024Proposal vote started
Oct 08, 2024Proposal vote ended
Feb 12, 2026Proposal updated