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Event HorizonEvent Horizonby0xFAD69Bd739c64cC8e3f1C3bb3B60fe4f160174Cchvax.eth

[AAVE] Onboard sUSDe to Aave V3 on Ethereum

Voting ended almost 2 years agoSucceeded

Simple Summary

This is an ARFC to seek approval for the addition of sUSDe to Aave V3 on Ethereum, following the consensus reached in the TEMP CHECK and ARFC stage.

Motivation

As discussed in the TEMP CHECK, Ethena's synthetic dollar, USDe, provides a stable crypto-native solution for a cash and carry structured product. The staked version of USDe, sUSDe, earns yield from the protocol and has high potential for strong collateral demand.

Specification

Amendment: opposed to the initial snapshot the aip enables flashloaning to stay consistent with other assets on the network.

The table below illustrates the configured risk parameters for sUSDe

| Parameter | Value | |

  • | --: | | Isolation Mode | true | | Borrowable | DISABLED | | Collateral Enabled | true | | Supply Cap (sUSDe) | 85,000,000 | | Borrow Cap (sUSDe) | 0 | | Debt Ceiling | USD 40,000,000 | | LTV | 72 % | | LT | 75 % | | Liquidation Bonus | 8.5 % | | Liquidation Protocol Fee | 10 % | | Reserve Factor | 20 % | | Base Variable Borrow Rate | 0 % | | Variable Slope 1 | 0 % | | Variable Slope 2 | 0 % | | Uoptimal | 90 % | | Stable Borrowing | DISABLED | | Stable Slope1 | 0 % | | Stable Slope2 | 0 % | | Base Stable Rate Offset | 0 % | | Stable Rate Excess Offset | 0 % | | Optimal Stable To Total Debt Ratio | 0 % | | Flashloanable | ENABLED | | Siloed Borrowing | DISABLED | | Borrowable in Isolation | DISABLED | | Oracle | 0xb37aE8aBa6C0C1Bf2c509fc06E11aa4AF29B665A |

References

  • Implementation: AaveV3Ethereum
  • Tests: AaveV3Ethereum
  • Snapshot
  • Discussion

Copyright

Copyright and related rights waived via CC0.

https://app.aave.com/governance/v3/proposal/?proposalId=124

Off-Chain Vote

YAE
15 HVAXVC93.8%
NAY
1 HVAXVC6.3%
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Discussion

Event Horizon[AAVE] Onboard sUSDe to Aave V3 on Ethereum

Timeline

Jun 22, 2024Proposal created
Jun 23, 2024Proposal vote started
Jun 25, 2024Proposal vote ended
Mar 26, 2026Proposal updated