Onboard rsETH to Aave V3 Ethereum














Onboard rsETH to Aave V3 Ethereum







Author

ACI

Creator

0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922

Simple Summary

Kelp DAO is seeking community support for adding its Liquid Restaking Token, rsETH, to Aave V3 on Ethereum. In addition, rsETH depositors into Aave will accumulate additional Kelp miles and EigenLayer points.

Motivation

KelpDAO (https://www.kelpdao.xyz/restake/) is one of the largest liquid restaking protocol built on top of the Eigen Layer. Restakers on Kelp get access to multiple benefits like restaking rewards, staking rewards and DeFi yields.

Specification

The table below illustrates the configured risk parameters for rsETH

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (rsETH)19,000
Borrow Cap (rsETH)1,900
Debt CeilingUSD 0
LTV72 %
LT75 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor15 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal45 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0x47F52B2e43D0386cF161e001835b03Ad49889e3b

Additionaly 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for rsETH and the corresponding aToken.

A new rsETH LST main e-mode has also been added:

ParameterValueValueValue
AssetrsETHwstETHETHx
CollateralYesNoNo
BorrowableNoYesYes
Max LTV92.5%--
Liquidation Threshold94.5%--
Liquidation Penalty1.00%--

The caps of the e-mode related assets have also been updated:

Current Borrow CapRecommended Borrow Cap
wstETH48,00060,000
ETHx3205,000

References

Copyright

Copyright and related rights waived via CC0.

by BGD Labs