AAVE

Proposal overview

Add UNI, MKR, SNX & BAL to Ethereum v3

Executed

Executed on 

Apr 09, 2023

Simple Summary

This proposal will onboard UNI, MKR, SNX & BAL to the Ethereum v3 Liquidity Pool.

Abstract

This proposal bundles four asset listing for Ethereum v3 into a single governance submission. Each asset is to be added in isolation mode, as collateral, with borrowing enabled.

Each Asset is currently listed on Aave v2. Gauntlet and Chaos Labs have provided the risk parameters for each v3 asset listing. Each asset received a favouable Snapshot vote indicating broad community support for listing the asset on the v3 Ethereum deployment.

Upon listing UNI, MKR, SNX & BAL users will be able to begin migrating there positions from Aave v2 to v3 on Ethereum.

Motivation

Enabling users to migrate from Ethereum v2 to v3 requires each asset to first be added to v3. Llama presented individual ARFC for each of the mentioned assets and based upon the Snapshot results, the community supports adding UNI, MKR, SNX and BAL to the Ethereum v3 deployment.

The links below detail the individual governance forum posts and respective Snapshot proposals.

Specification

Ticker: UNI Contract Address: 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984

Oracle: 0x553303d460EE0afB37EdFf9bE42922D8FF63220e

Risk ParameterValue
Isolation ModeYES
Enable BorrowYES
Enable CollateralYES
Loan To Value65.00%
Liquidation Threshold77.00%
Liquidation Bonus10.00%
Reserve Factor20.00%
Liquidation Protocol Fee10.00%
Borrow Cap500,000 units
Supply Cap2,000,000 units
Debt Ceiling$17,000,000
Variable Base0.00%
Variable Slope17.00%
Variable Slope2300.00%
Uoptimal45.00%
Stable BorrowingDisabled
Stable Slope113.00%
Stable Slope2300.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%

Ticker: MKR Contract Address: 0x9f8F72aA9304c8B593d555F12eF6589cC3A579A2

Oracle: 0xec1D1B3b0443256cc3860e24a46F108e699484Aa

Risk ParameterValue
Isolation ModeYES
Enable BorrowYES
Enable CollateralYES
Loan To Value65.00%
Liquidation Threshold70.00%
Liquidation Bonus8.50%
Reserve Factor20.00%
Liquidation Protocol Fee10.00%
Borrow Cap1,500 units
Supply Cap6,000 units
Debt Ceiling$2,500,000
Variable Base0.00%
Variable Slope17.00%
Variable Slope2300.00%
Uoptimal45.00%
Stable BorrowingDisabled
Stable Slope113.00%
Stable Slope2300.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%

Ticker: SNX Contract Address: 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f

Oracle: 0xDC3EA94CD0AC27d9A86C180091e7f78C683d3699

Risk ParameterValue
Isolation ModeYES
Enable BorrowYES
Enable CollateralYES
Loan To Value49.00%
Liquidation Threshold65.00%
Liquidation Bonus8.50%
Reserve Factor35.00%
Liquidation Protocol Fee10.00%
Borrow Cap1,100,000 units
Supply Cap2,000,000 units
Debt Ceiling$2,500,000
Variable Base3.00%
Variable Slope115.00%
Variable Slope2100.00%
Uoptimal80.00%
Stable BorrowingDisabled
Stable Slope115.00%
Stable Slope2100.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%

Ticker: BAL Contract Address: 0xba100000625a3754423978a60c9317c58a424e3D

Oracle: 0xdF2917806E30300537aEB49A7663062F4d1F2b5F

Risk ParameterValue
Isolation ModeYES
Enable BorrowYES
Enable CollateralYES
Loan To Value57%
Liquidation Threshold62.00%
Liquidation Bonus8.30%
Reserve Factor20.00%
Liquidation Protocol Fee10.00%
Borrow Cap185,000 units
Supply Cap700,000 units
Debt Ceiling$2,900,000
Variable Base3.00%
Variable Slope114.00%
Variable Slope2150.00%
Uoptimal80.00%
Stable BorrowingDisabled
Stable Slope120.00%
Stable Slope2150.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%

Implementation

A list of relevant links like for this proposal:

The risk paramters detailed within this proposal have been jointly provided by Chaos Labs and Gauntlet.

The proposal Payload was reviewed by Bored Ghost Developing.

Copyright

Copyright and related rights waived via CC0.

Your voting info

Voting results

YAE

539,815

AAVE

100.00%

NAY

0

AAVE

0%

Votes

State
Executed

Executed on 

Apr 09, 2023
Quorum
Reached
Current votes

Required

539.81K

320.00K

Differential
Reached
Current differential

Required

539.81K

80,000.00

Total voting power

16,000,000

Proposal details

Created

Block

4 Apr 2023, 14:59 UTC +00:00

16976267

Started

Block

5 Apr 2023, 15:28 UTC +00:00

16983467

Ended

Block

8 Apr 2023, 07:28 UTC +00:00

17002667

Executed

9 Apr 2023, 09:02 UTC +00:00

Author

Llama

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