Aave v3 Scroll Activation














Aave v3 Scroll Activation







Author

BGD Labs (@bgdlabs)

Creator

0xf71fc92e2949ccF6A5Fd369a0b402ba80Bc61E02

Simple Summary

This proposal allows the Aave governance to activate the Aave V3 Scroll pool (3.0.2) by completing all the initial setup and listing WETH, USDC, wstETH as suggested by the risk service providers engaged with the DAO (Gauntlet and Chaos Labs) on the governance forum.

All the Aave Scroll V3 addresses can be found in the aave-address-book.

Motivation

All the governance procedures for the expansion of Aave v3 to Scroll have been finished, said:

  • Positive signaling and approval regarding the expansion on the governance forum, temp check snapshot, and final snapshot.
  • Positive technical evaluation done by BGD Labs of the Scroll chain network, as described in the forum in detail.
  • Positive risk analysis and assets/parameters recommendation by the service providers Gauntlet and Chaos Labs.

Specification

The proposal will do the following:

  • Set risk steward and freezing steward as the risk admin by executing ACL_MANAGER.addRiskAdmin().
  • Set the guardian address as the pool admin by executing ACL_MANAGER.addPoolAdmin(). This is following the standard procedure of keeping pool admin on the Aave Guardian during the bootstrap period, for security.
  • List the following assets on Aave V3 Scroll: WETH, USDC, wstETH.

The table below illustrates the initial suggested risk parameters for each asset:

ParameterWETHUSDCwstETH
Isolation Modefalsetruetrue
BorrowableENABLEDENABLEDENABLED
Collateral Enabledtruetruetrue
Supply Cap2401,000,000130
Borrow Cap200900,00045
Debt CeilingUSD 0USD 0USD 0
LTV75 %77 %75 %
LT78 %80 %78 %
Liquidation Bonus6 %5 %7 %
Liquidation Protocol Fee10 %10 %10 %
Reserve Factor15 %10 %15 %
Base Variable Borrow Rate0 %0 %0 %
Variable Slope 13.3 %6 %7 %
Variable Slope 28 %60 %300 %
Uoptimal80 %90 %45 %
Stable BorrowingDISABLEDDISABLEDDISABLED
Stable Slope13.3 %6 %7 %
Stable Slope28 %60 %300 %
Base Stable Rate Offset2 %1 %2 %
Stable Rate Excess Offset8 %8 %8 %
Optimal Stable To Total Debt Ratio20 %20 %20 %
FlashloanableENABLEDENABLEDENABLED
Siloed BorrowingDISABLEDDISABLEDDISABLED
Borrowable in IsolationDISABLEDENABLEDDISABLED
OracleETH/USDUSDC/USDwstETH/USD

References

Copyright

Copyright and related rights waived via CC0.

by BGD Labs