[ARFC] Onboard USDtb to Aave v3 Core Instance
Author: ACI
Date: 2025-04-09
Risk Parameters have been provided on 2025-04-21
Summary
We propose to onboard USDtb to the v3 Core Instance with borrow enabled, collateral disabled, after successful [TEMP CHECK] Onboard USDtb to Aave v3 Core Instance and TEMP CHECK Snapshot.
Motivation
USDtb is a digital dollar, otherwise known as a USD stablecoin. USDtb can be used the same way a holder would use any other dollar, whether to send and receive payments, acquire and trade assets, or to simply hold dollars.
Unlike actual dollars, USDtb is a blockchain-based token, which enables faster and cheaper spending than the traditional fiat banking system. Unlike many digital assets, USDtb is fully backed by institutional-grade tokenized U.S. treasury fund products (alongside a stablecoin reserve designed to facilitate rapid redemptions) to support stability. Initially, USDtb will be backed by BlackRock’s USD Institutional Digital Liquidity Fund Token, BUIDL.
By onboarding USDtb, deeper borrow liquidity will be generated to allow sUSDe leverage at an attractive borrow rate. We believe this will help revitalise and accelerate growth in sUSDe activity on the Core Instance.
Backed by BUIDL issued by Blackrock, one of the largest asset managers in the world we believe this asset aligns well with Aave’s history of providing liquidity to the highest quality assets in DeFi and should attract significant deposits.
Specification
- Onboard to Core Instance
- Borrow enabled
- Collateral disabled
- L1 token contract address: 0xC139190F447e929f090Edeb554D95AbB8b18aC1C
Risk Parameters have been provided on 2025-04-21
| Parameter | Value |
|---|---|
| Asset | USDtb |
| Isolation Mode | No |
| Borrowable | Yes |
| Collateral Enabled | No |
| Supply Cap | 50,000,000 |
| Borrow Cap | 40,000,000 |
| Debt Ceiling | - |
| LTV | - |
| LT | - |
| Liquidation Penalty | - |
| Liquidation Protocol Fee | - |
| Variable Base | 0 |
| Variable Slope1 | 6% |
| Variable Slope2 | 50% |
| Uoptimal | 80% |
| Reserve Factor | 10% |
| Stable Borrowing | Disabled |
| Flashloanable | Yes |
| Siloed Borrowing | No |
| Borrowable in Isolation | No |
| E-Mode Category | N/A |
Proof of Liquidity and Deposit Commitments
- Ethena will deposit a significant amount of USDtb.
Useful Links:
- Docs: https://docs.usdtb.money/
- Transparency dashboard: https://usdtb.money/transparency
Disclaimer:
This proposal is powered by Skywards. The Aave Chan Initiative is not directly affiliated and did not receive compensation for creation this proposal.
Next Steps
- Publication of a standard ARFC, collect community & service providers feedback before escalating proposal to ARFC 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
589.73K AAVE100%
NAY
50.16 AAVE0%
Abstain
0.18 AAVE0%
Timeline
Apr 23, 2025Proposal created
Apr 23, 2025Proposal vote started
Apr 26, 2025Proposal vote ended
Feb 12, 2026Proposal updated