Title: [ARFC] Onboard USDC.e to Aave V3 Gnosis Chain Author: ACI (Aave Chan Initiative) Date: 2024-06-11
Summary
This proposal aims to onboard USDC.e into the Aave V3 pools on Gnosis.
Motivation
Gnosis will be deploying a new version of USDC, following the Bridge Token Standard. The migration from the older version of USDC allows for more flexibility and paves the way for deeper integration with Circle and native USDC implementations.
This proposal aims to onboard USDC.e into the Aave V3 pools on Gnosis in support of this migration, allowing Aave users to transition to the new version of USDC.
Specification
Token Symbol: USDC.e
Address:
Chainlink oracle:
Minter Allowance Transmuter:
https://gnosisscan.io/address/0x2a22f9c3b484c3629090feed35f17ff8f88f76f0#readProxyContract#F15
Risk Parameters:
Risk Parameters have been provided by Risk Service Providers and this ARFC has been updated accordingly.
| Risk Parameter | Value |
|---|---|
| Isolation Mode | No |
| Borrowable in Isolation | Yes |
| Stable Borrow | No |
| Enable Borrow | Yes |
| Enable Collateral | Yes |
| Loan To Value (LTV) | 75% |
| Liquidation Threshold | 78% |
| Liquidation Bonus | 5% |
| Reserve Factor | 10% |
| Liquidation Protocol Fee | 10% |
| Supply Cap | |
| Borrow Cap | |
| Debt Ceiling | N/A |
| Optimal | 90% |
| Base | 0% |
| Slope1 | 9% |
| Slope2 | 75% |
Potential Incentives
To facilitate a seamless transition to the new version of USDC.e, relevant foundations, DAO & Circle, are welcome to propose incentive programs.
After the publication of this ARFC, relevant foundations such as DAO & Circle, may propose incentive programs. If that’s the situation, this proposal will be updated accordingly.
The ACI, via the Skyward program, will prepare the AIP implementation accordingly.
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.
Disclaimer
This proposal is powered by Skywards. The Aave Chan Initiative (ACI) is not compensated in any form by Gnosis Chain, Circle or any affiliated entities for creating this ARFC proposal.
Copyright
Copyright and related rights waived via CC0.
Off-Chain Vote
YAE
662.3K AAVE100%
NAY
4.25 AAVE0%
ABSTAIN
0.14 AAVE0%
Timeline
Jun 17, 2024Proposal created
Jun 18, 2024Proposal vote started
Jun 21, 2024Proposal vote ended
Feb 12, 2026Proposal updated