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Jarvis NetworkJarvis Networkby0x03C2Bc72A3E007179E54fFb4563cc235beC8151ajarvis.lens

p49-2 cap on Aave v3

Voting ended about 4 years agoSucceeded

Since jEUR was just launched on Aave v3, and since the interest rates model is very different from Market, we need another vote for the cap for jEUR on Aave v3.

Discord: https://discord.com/channels/664096525986824243/951092964719984710/953778094358016000

To run a simulation: https://app.aave.com/reserve-overview/?underlyingAsset=0x4e3decbb3645551b8a19f0ea1678079fcb33fb4c&marketName=proto_polygon_v3

Aave rate model is designed to be very low until 93% of utilization.

Therefore, it would be more likely that a dry out of the selling-side liquidity happens on Aave.

Example at a 90% utilization:

  • setting a cap of 50% means that 45% of the jEUR could be minted and sold.
  • setting a cap of 20% means that 18% of the jEUR could be minted and sold.

We need to vote on the cap (between 0 and 100%) considering that if 91% are borrowed the interest rate would be 10%, if 93% are borrowed the interest rate would be 20%, and if 94.5% are borrowed it will be 30%.

If there is not an option that will gather 51% of the vote, we will redo the vote between the option that gathered more than 20% of the votes.

Off-Chain Vote

0%
0 0%
10%
1.05M 8.2%
20%
8.31M 65.1%
30%
3.4M 26.7%
40%
0 0%
50%
0 0%
60%
0 0%
70%
0 0%
80%
0 0%
90%
0 0%
100%
1.5K 0%
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Timeline

Mar 17, 2022Proposal created
Mar 17, 2022Proposal vote started
Mar 20, 2022Proposal vote ended
Apr 21, 2025Proposal updated