[ARFC] Onboard sUSDe to Aave V3 on Ethereum
Author: ACI (Aave Chan Initiative)
Date: 2024-04-01
Summary
This is an ARFC to seek approval for the addition of sUSDe to Aave V3 on Ethereum, following the consensus reached in the TEMP CHECK stage.
Motivation
As discussed in the TEMP CHECK, Ethena's synthetic dollar, USDe, provides a stable crypto-native solution for a cash and carry structured product. The staked version of USDe, sUSDe, earns yield from the protocol and has high potential for strong borrow demand.
Specification
sUSDe: 0x9d39a5de30e57443bff2a8307a4256c8797a3497
Risk Parameters
Risk parameters have been provided by Chaos Labs in the ARFC discussion thread.
Initial Risk Parameters are the following:
| Parameter | Value |
|---|---|
| Isolation Mode | Yes |
| Borrowable | No |
| Collateral Enabled | Yes |
| Supply Cap (sUSDe) | 85M |
| Debt Ceiling | 40M |
| LTV | 72.00% |
| LT | 75.00% |
| Liquidation Bonus | 8.50% |
| Liquidation Protocol Fee | 10.00% |
| Flashloanable | No |
| Siloed Borrowing | No |
| Borrowed in Isolation | No |
| Emode | No |
Useful Links
TEMP CHECK TEMP CHECK Snapshot
Disclaimer
This proposal is powered by Skywards. The Aave Chan Initiative is not directly affiliated with Ethena and did not receive compensation for creation this proposal.
Next Steps
- Collect community & service providers feedback on this ARFC.
- Escalate the proposal to ARFC snapshot stage if feedback is positive.
- 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
535.84K AAVE99.5%
NAY
1.65K AAVE0.3%
Abstain
1.2K AAVE0.2%
Timeline
Apr 08, 2024Proposal created
Apr 09, 2024Proposal vote started
Apr 12, 2024Proposal vote ended
Feb 12, 2026Proposal updated