Onboard sUSDe and USDe to Aave V3 Avalanche Instance
Onboard sUSDe and USDe to Aave V3 Avalanche Instance
Author
Aave-chan Initiative
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This proposal seeks to onboard sUSDe and USDe to the Aave v3 protocol on Avalanche.
Motivation
The onboarding of sUSDe and USDe to the Aave Avalanche Instance will provide users with high quality yield bearing stablecoin collateral to help expand stablecoin usage on this instance.
As the Avalanche instance shows promise and potential for significant growth we believe the time is right for expanding collateral options on this network with a focus on those assets which have proven to be in demand on other Aave instances.
Ava Labs has committed 1000 AVAX per week in incentives to bootstrapping usage of these assets on the Avalanche Aave instance.
Specification
The table below illustrates the configured risk parameters for USDe and sUSDe
| Parameter | USDe | sUSDe |
|---|---|---|
| Isolation Mode | false | false |
| Borrowable | ENABLED | DISABLED |
| Collateral Enabled | true | true |
| Supply Cap | 50,000,000 | 50,000,000 |
| Borrow Cap | 42,500,000 | 1 |
| Debt Ceiling | USD 0 | USD 0 |
| LTV | 70 % | 70 % |
| LT | 73 % | 73 % |
| Liquidation Bonus | 8.5 % | 8.5 % |
| Liquidation Protocol Fee | 10 % | 10 % |
| Reserve Factor | 25 % | 45 % |
| Base Variable Borrow Rate | 0 % | 0 % |
| Variable Slope 1 | 6.5 % | 10 % |
| Variable Slope 2 | 50 % | 300 % |
| Uoptimal | 80 % | 45 % |
| Flashloanable | ENABLED | ENABLED |
| Siloed Borrowing | DISABLED | DISABLED |
| Borrowable in Isolation | DISABLED | DISABLED |
Oracle details
| USDe | sUSDe | |
|---|---|---|
| Oracle | Capped USDT/USD | Capped sUSDe / USDe / USD |
| PriceCap | 1.04e8 | - |
| Exchange Rate Feed | - | CL SUSDe/USDe |
| Base Feed | CL USDT/USD | Capped USDT/USD |
| MaxYearlyRatioGrowthPercent | - | 15.19 % |
| MinimumSnapshotDelay | - | 14 days |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for USDe, sUSDe and the corresponding aTokens.
Emode details
USDe Stablecoin E-mode Configuration
| Parameter | Value | Value | Value | Value |
|---|---|---|---|---|
| Asset | USDe | USDt | GHO | USDC |
| Collateral | Yes | No | No | No |
| Borrowable | No | Yes | Yes | Yes |
| Max LTV | 89% | - | - | - |
| Liquidation Threshold | 92% | - | - | - |
| Liquidation Bonus | 2% | - | - | - |
sUSDe Stablecoin E-mode Configuration
| Parameter | Value | Value | Value | Value | Value |
|---|---|---|---|---|---|
| Asset | sUSDe | USDe | USDt | GHO | USDC |
| Collateral | Yes | No | No | No | No |
| Borrowable | No | Yes | Yes | Yes | Yes |
| Max LTV | 89% | - | - | - | - |
| Liquidation Threshold | 91% | - | - | - | - |
| Liquidation Bonus | 4% | - | - | - | - |
References
- Implementation: AaveV3Avalanche
- Tests: AaveV3Avalanche
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.