AIP - 7: Launching Angle Borrowing Module

Summary

This is a single vote for 3 proposals on the protocol:

1. Upgrade the agEUR contract on Ethereum to support the new borrowing module
2. Deploy the borrowing module with the parameters specified in the SDK
3. Launch the flash-loan feature for agEUR

Context

Borrowing Module

Angle Borrowing module is designed to let anyone borrow agEUR against volatile collateral assets. It’s similar to Maker in some way except that we’ve included some improvements like capital efficiency features and limited liquidations. Module is normally well documented on Angle docs and smart contracts have been audited.

Proposal is to start with the 3 following collateral assets each with a debt ceiling of 10m and debt dust amount of 10,000 agEUR:

• wETH with a collateral factor of 83.5%
• wBTC with a collateral factor of 72.5%
• wstETH with a collateral factor of 77%

Governance will be able to vote and whitelist new collateral assets to be used for agEUR.

Flash-loan feature

With this new module comes a flash-loan feature allowing people to take agEUR flash loans for free. Proposal is to enable flash loans with a cap amount of 10m agEUR.

Implementing these two changes requires upgrading the agEUR contract (this was part of the audit process as well)

Voting Options

1. For, support 3 proposals
2. Against, do nothing

Vote is weighted so that votes on Snapshot spaces of liquid lockers can be reflected on Angle as well.