KVORUM
aaveSource: Aave governance v3 · #110

weETH Aave V3 Base Onboarding

executedJun 1, 2024, 08:03 AM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Add Ether.fi's weETH (Liquid Restaking Token) to Aave V3 on Base with specified risk parameters including 72.5% LTV, 150 weETH supply cap, and 30 weETH borrow cap, following successful onboarding on Ethereum and Arbitrum.

Type
protocol addition

Key changes

  • Onboard weETH token to Aave V3 Base with collateral and borrowing enabled(high)
  • Set LTV at 72.5% and LT at 75% for weETH collateral(high)
  • Configure supply cap at 150 weETH and borrow cap at 30 weETH(high)
  • Set reserve factor at 45% aligned with mainnet parameters for DAO revenue optimization(medium)
  • Enable flash loans and disable stable borrowing for weETH(medium)
ContractsAaveV3Base
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

374 words

Simple Summary

This ARFC seeks to add Ether.fi Liquid Restaking Token weETH to Aave V3 on Base.

After the successful onboarding of both weETH to Aave v3 Ethereum and Arbitrum, and latest ARFC to Increase Supply and Borrow Caps for weETH on both networks due to huge demand, this proposal will go direct-to-AIP following the asset onboarding framework.

Motivation

eETH is an LRT that allows users to stake their ETH, accrue staking rewards, and receive additional rewards through native restaking on EigenLayer.

Ether.fi has also launched eETH on Arbitrum, allowing users on the L2 to get exposure to the LRT yield and points. As weETH has already been approved for onboarding to Aave v3 Ethereum and Arbitrum by the DAO, this proposal aims to extend the onboarding of weETH to Aave v3 on Base.

Specification

The table below illustrates the configured risk parameters for weETH

the Reserve Factor & UOptimal parameters have been aligned with the mainnet parameters to optimize Aave DAO revenue.

ParameterValue
Isolation ModeFalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (weETH)150
Borrow Cap (weETH)30
Debt CeilingUSD 0
LTV72.5 %
LT75 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor45 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal35 %
Stable BorrowingDISABLED
Stable Slope17 %
Stable Slope2300 %
Base Stable Rate Offset0 %
Stable Rate Excess Offset0 %
Optimal Stable To Total Debt Ratio0 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xFc4d1d7a8FD1E6719e361e16044b460737F12C44

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

0 total

This proposal carries no on-chain actions.

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.