[AAVE] Aave v3 zkSync Activation

Simple Summary

This proposal allows the Aave governance to activate the Aave V3 zkSync pool (3.1) by completing all the initial setup and listing USDC, USDT, WETH, wstETH, ZK as suggested by the risk service providers engaged with the DAO on the governance forum.

All the Aave zkSync V3 addresses can be found in the aave-address-book.

Motivation

All the governance procedures for the expansion of Aave v3 to zkSync have been finished, said:

• Positive signaling and approval regarding the expansion on the governance forum, temp check snapshot, and final snapshot.
• Positive technical evaluation done by BGD Labs of the zkSync network, as described in the forum in detail.
• Positive risk analysis and assets/parameters recommendation by the risk service providers.

Specification

The proposal will do the following:

• List the following assets on Aave V3 zkSync: USDC, USDT, WETH, wstETH, ZK
• Set the guardian address as the pool admin by executing ACL_MANAGER.addPoolAdmin(). This is following the standard procedure of keeping pool admin on the Aave Guardian during the bootstrap period, for security.
• Set ACI as liquidity mining admin for the ZK token by calling EMISSION_MANAGER.setEmissionAdmin() method.

Note: The risk params suggested by risk service providers have changed post-snapshot, and the updated one's from the forum are being used.

The table below illustrates the initial suggested risk parameters for each asset:

| Emode Category Id | LTV | Liquidation Threshold | Liquidation Bonus | | | |

--:
1 (ETH correlated)

| Parameter | USDC | USDT | WETH | wstETH | ZK | |

• | --: | --: | -: | : | : | | Supply Cap | 1,000,000 | 3,000,000 | 1,000 | 300 | 18,000,000 | | Borrow Cap | 900,000 | 2,700,000 | 900 | 30 | 10,000,000 | | Borrowable | ENABLED | ENABLED | ENABLED | ENABLED | ENABLED | | Collateral Enabled | true | true | true | true | true | | LTV | 75 % | 75 % | 75 % | 71 % | 40 % | | LT | 78 % | 78 % | 78 % | 76 % | 45 % | | Liquidation Bonus | 5 % | 5 % | 6 % | 7 % | 10 % | | Liquidation Protocol Fee | 10 % | 10 % | 10 % | 10 % | 20 % | | Reserve Factor | 10 % | 10 % | 15 % | 5 % | 20 % | | Base Variable Borrow Rate | 0 % | 0 % | 0 % | 0 % | 0 % | | Variable Slope 1 | 5.5 % | 5.5 % | 2.7 % | 4.5 % | 9 % | | Variable Slope 2 | 60 % | 60 % | 80 % | 80 % |

... please visit link below to view full proposal

https://app.aave.com/governance/v3/proposal/?proposalId=153