Onboarding wETH to Aave V3 Celo Instance
Onboarding wETH to Aave V3 Celo Instance
Author
Aave-Chan Initiative
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This AIP proposes the onboarding of Wrapped Ether (wETH) as a supported asset on the Aave V3 Celo Instance. The integration aims to expand the protocol’s utility and provide users with additional opportunities for lending and borrowing.
Motivation
The addition of wETH to Aave V3 on Celo would:
- Increase TVL and protocol revenue
- Provide users with a major DeFi asset for lending/borrowing
- Enable cross-chain strategies involving ETH
- Enhance the protocol’s competitive position in the Celo ecosystem
Specification
The table below illustrates the configured risk parameters for WETH
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | ENABLED |
| Collateral Enabled | true |
| Supply Cap (WETH) | 500 |
| Borrow Cap (WETH) | 450 |
| Debt Ceiling | USD 0 |
| LTV | 78 % |
| LT | 80 % |
| Liquidation Bonus | 7.5 % |
| Liquidation Protocol Fee | 10 % |
| Reserve Factor | 15 % |
| Base Variable Borrow Rate | 0 % |
| Variable Slope 1 | 2.7 % |
| Variable Slope 2 | 80 % |
| Uoptimal | 90 % |
| Flashloanable | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | Chainlink ETH/USD |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for WETH and the corresponding aToken.
References
- Implementation: AaveV3Celo
- Tests: AaveV3Celo
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.