[ARFC] Onboard Native USDC to Aave V3 Optimism Market

title: [ARFC] Onboard Native USDC to Aave V3 Optimism Market
author: @marczeller - Aave Chan Initiative
created: 2023-11-10

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Abstract

This ARFC proposes integrating native USDC into the Aave V3 pool on Optimism, positioning it as the primary stablecoin version over the bridged USDC.e.

Motivation

With the evolution of L2 networks, adopting native USDC versions becomes vital for efficiency. This proposal seeks a balanced transition from USDC.e to native USDC on Optimism, drawing from similar successful integrations on other networks.

Specification

Token Information

• Token Symbol: USDC
• Token Address: 0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85

Parameters

• Supply Cap:
  • USDC: 150M
  • USDC.e: 25M
• Borrow Cap:
  • USDC: 100M
  • USDC.e: 20M
• Reserve Factor (RF):
  • USDC.e: Increase to 20% to incentivize native USDC usage.

All other risk parameters for native USDC will mirror those of USDC.e.

Next Steps

1. If successful, escalate to AIP stage.

Disclaimer

This proposal is powered by Skyward, The Aave Chan Initiative (ACI) is not compensated in any form by Circle, Optimism, or any affiliated entities for creating this ARFC proposal.

Copyright

Copyright and related rights waived via CC0.