[AAVE] Add EURC to Avalanche V3 Instance

Voting ended 6 months agoSucceeded

Simple Summary

The current ARFC proposes to add EURC on Avalanche V3 Instance. EURC is Circle’s EUR-backed stablecoin, enhancing liquidity and expanding the platform’s appeal to European users.

Motivation

EURC is a fully backed stablecoin pegged to the Euro, issued by Circle, the same entity behind USDC. It is a reliable and transparent Euro-denominated asset gaining adoption across DeFi protocols.

Utility and Role: EURC facilitates Euro-based transactions in DeFi, allowing for a stable store of value and an efficient medium of exchange within the ecosystem.
Backers: Circle is a trusted issuer with a track record of regulatory compliance, providing confidence in EURC’s stability.
Performance: EURC has demonstrated consistent performance and adoption within the broader DeFi space such as Morpho (3M), Alien(4M) and Aerodome (3M).
Euro Liquidity: EURC will offer Aave users access to Euro-denominated liquidity, appealing to the European market.
Broader User Base: Listing EURC could attract new users from Europe, diversifying Aave’s stablecoin offerings.
Increased Liquidity: The addition of EURC can enhance liquidity across Aave’s markets, improving lending, borrowing, and trading experiences.

Specification

The table below illustrates the configured risk parameters for EURC

| Parameter | Value | |

| --: | | Isolation Mode | false | | Borrowable | ENABLED | | Collateral Enabled | true | | Supply Cap (EURC) | 3,000,000 | | Borrow Cap (EURC) | 2,800,000 | | Debt Ceiling | USD 0 | | LTV | 75 % | | LT | 78 % | | Liquidation Bonus | 5 % | | Liquidation Protocol Fee | 10 % | | Reserve Factor | 10 % | | Base Variable Borrow Rate | 0 % | | Variable Slope 1 | 6 % | | Variable Slope 2 | 50 % | | Uoptimal | 90 % | | Flashloanable | ENABLED | | Siloed Borrowing | DISABLED | | Borrowable in Isolation | DISABLED |

Oracle details

Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for EURC and the corresponding aToken.

References

Implementation: AaveV3Avalanche
Tests: AaveV3Avalanche
Snapshot: Direct-to-AIP
Discussion

Copyright

https://app.aave.com/governance/v3/proposal/?proposalId=375

Off-Chain Vote

YAE

342 HVAXVC90%

NAY

38 HVAXVC10%

Quorum:38000%

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Discussion

[AAVE] Add EURC to Avalanche V3 Instance

Timeline

Sep 12, 2025Proposal created

Sep 13, 2025Proposal vote started

Sep 15, 2025Proposal vote ended

Mar 17, 2026Proposal updated

Motivation

EURC is a fully backed stablecoin pegged to the Euro, issued by Circle, the same entity behind USDC. It is a reliable and transparent Euro-denominated asset gaining adoption across DeFi protocols.

Utility and Role: EURC facilitates Euro-based transactions in DeFi, allowing for a stable store of value and an efficient medium of exchange within the ecosystem.

Backers: Circle is a trusted issuer with a track record of regulatory compliance, providing confidence in EURC’s stability.

Performance: EURC has demonstrated consistent performance and adoption within the broader DeFi space such as Morpho (3M), Alien(4M) and Aerodome (3M).

Euro Liquidity: EURC will offer Aave users access to Euro-denominated liquidity, appealing to the European market.

Broader User Base: Listing EURC could attract new users from Europe, diversifying Aave’s stablecoin offerings.

Increased Liquidity: The addition of EURC can enhance liquidity across Aave’s markets, improving lending, borrowing, and trading experiences.

Specification

The table below illustrates the configured risk parameters for EURC

| Parameter | Value | |

| --: | | Isolation Mode | false | | Borrowable | ENABLED | | Collateral Enabled | true | | Supply Cap (EURC) | 3,000,000 | | Borrow Cap (EURC) | 2,800,000 | | Debt Ceiling | USD 0 | | LTV | 75 % | | LT | 78 % | | Liquidation Bonus | 5 % | | Liquidation Protocol Fee | 10 % | | Reserve Factor | 10 % | | Base Variable Borrow Rate | 0 % | | Variable Slope 1 | 6 % | | Variable Slope 2 | 50 % | | Uoptimal | 90 % | | Flashloanable | ENABLED | | Siloed Borrowing | DISABLED | | Borrowable in Isolation | DISABLED |

Oracle details

Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for EURC and the corresponding aToken.