Increase USDS Borrow Rate to Match Sky Savings Rate
Increase USDS Borrow Rate to Match Sky Savings Rate
Author
Aave Chan Initiative
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This ARFC proposes a Direct-To-AIP adjustment to the USDS borrow rate on the Aave protocol, increasing it to align with the Sky Savings Rate.
Motivation
The Sky Savings Rate has recently outpaced the USDS borrow rate on Aave. To correct this and ensure the protocol is directing incentives to true depositors instead of USDS loopers, we propose raising the USDS borrow rate to match the Sky Savings Rate.
Specification
USDS Borrow Rate will be adjusted as follows on the main market on Ethereum
- Base Variable Rate: 6.25%
All other parameters remain unchanged.
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.