Add PYUSD to Aave v3 Ethereum Pool
Add PYUSD to Aave v3 Ethereum Pool
Author
JosepBove (ACI)
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This AIP proposes the onboarding of the PYUSD stablecoin, minted by Paxos Trust Company, into the Aave V3 Ethereum pool.
Motivation
PYUSD is a USD-pegged stablecoin minted through Paxos. While it’s still young, it has grown to a circulating supply of over $230M with strong peg resilience. Onboarding this asset into Aave will:
Build synergies between Aave and PYUSD. Offer Aave users an additional stablecoin option. Strengthen the relationship between the PYUSD & the GHO stablecoin. (Trident may explore the deployment of a PYUSD/GHO pool) We propose a PYUSD onboarding outside isolation mode but without collateral properties.
Specification
Ticker: PYUSD Contract address: 0x6c3ea9036406852006290770bedfcaba0e23a0e8 Price Feed: 0x8f1df6d7f2db73eece86a18b4381f4707b918fb1
Chainlink Oracle: https://data.chain.link/ethereum/mainnet/stablecoins/PYUSD-usd
The table below illustrates the configured risk parameters for PYUSD
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | ENABLED |
| Collateral Enabled | false |
| Supply Cap (PYUSD) | 10,000,000 |
| Borrow Cap (PYUSD) | 9,000,000 |
| Debt Ceiling | USD 0 |
| LTV | 0 % |
| LT | 0 % |
| Liquidation Bonus | 0 % |
| Liquidation Protocol Fee | 10 % |
| Reserve Factor | 20 % |
| Base Variable Borrow Rate | 0 % |
| Variable Slope 1 | 6 % |
| Variable Slope 2 | 80 % |
| Uoptimal | 80 % |
| Flashloanable | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | 0x8f1df6d7f2db73eece86a18b4381f4707b918fb1 |
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.