Title: [ARFC] Onboard USDe to Aave V3 on Ethereum Date: 2024-05-13 Author: ACI (Aave Chan Initiative)
Summary:
This is an ARFC to seek approval for the addition of USDe to Aave V3 on Ethereum, as there’s been already a successful onboarding for sUSDe (staked USDe) on Ethereum.
Motivation
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, which was already onboarded successfully into Aave.
The current ARFC plans to onboard USDe on Aave v3 Ethereum.
Specification
USDe: (0x4c9edd5852cd905f086c759e8383e09bff1e68b3) Etherscan link
Risk Parameters
ARFC has been updated with Risk parameters provided by Risk Service Providers in the ARFC discussion thread.
| Parameter | Value |
|---|---|
| Isolation Mode | Yes |
| Borrowable | Yes |
| Collateral Enabled | Yes |
| Supply Cap (USDe) | 80M |
| Borrow Cap (USDe) | 72M |
| UOptimal | 80% |
| Slope1 | 9.00% |
| Slope2 | 75.00% |
| Debt Ceiling | $40M |
| LTV | 72.00% |
| LT | 75.00% |
| Liquidation Bonus | 8.50% |
| Liquidation Protocol Fee | 10.00% |
Useful Links
[TEMP CHECK] Onboard sUSDe to Aave v3 Ethereum
[ARFC] Onboard sUDe to Aave v3 on Ethereum
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 CCO
Off-Chain Vote
YAE
678.84K AAVE100%
NAY
1.87 AAVE0%
ABSTAIN
259.19 AAVE0%
Timeline
May 17, 2024Proposal created
May 18, 2024Proposal vote started
May 21, 2024Proposal vote ended
Feb 03, 2026Proposal updated