[AAVE] Increase USDS Borrow Rate to Match Sky Savings Rate
Simple Summary
This ARFC proposes a Direct-To-AIP adjustment to the USDS borrow rate on the Aave protocol, increasing it to align with the Sky Savings Rate.
Motivation
The Sky Savings Rate has recently outpaced the USDS borrow rate on Aave. To correct this and ensure the protocol is directing incentives to true depositors instead of USDS loopers, we propose raising the USDS borrow rate to match the Sky Savings Rate.
Specification
USDS Borrow Rate will be adjusted as follows on the main market on Ethereum
- Base Variable Rate: 6.25%
All other parameters remain unchanged.
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.
Off-Chain Vote
YAE
9 HVAXVC90%
NAY
1 HVAXVC10%
Timeline
Oct 17, 2024Proposal created
Oct 18, 2024Proposal vote started
Oct 20, 2024Proposal vote ended
Mar 26, 2026Proposal updated