KVORUM
aaveSource: Aave governance v3 · #119

Onboarding ETHx to Aave V3 Ethereum

executedJun 20, 2024, 09:20 AM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal onboards Stader Lab's ETHx (staked ETH token) as collateral on Aave V3 Ethereum and includes it in the ETH-correlated E-Mode category, enabling leveraged liquid staking strategies. ETHx joins existing LSTs like stETH, cbETH, and rETH with risk parameters set by Chaos Labs and smart contracts reviewed by BGD Labs.

Type
protocol addition

Key changes

  • ETHx enabled as collateral on Aave V3 with 74.5% LTV and 77% liquidation threshold(high)
  • ETHx included in ETH-correlated E-Mode category to enable recursive leveraged staking strategies(high)
  • Supply cap set to 3,200 ETHx and borrow cap set to 320 ETHx(medium)
  • Variable borrow rate slopes configured: 7% slope 1, 300% slope 2, with 45% Uoptimal(medium)
  • Flashloan enabled for ETHx(low)
Contracts0x94cdd72ee5ba46b9132e99957085fc4467c503500xD6270dAabFe4862306190298C2B48fed9e15C847
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

376 words

Simple Summary

This publication onboards Stader Lab's ETHx onto the Ethereum Aave v3 deployment as collateral and includes it the ETH-correlated E-Mode category.

Motivation

Liquid staking tokens (LSTs) have proven to be popular collateral assets on Aave. The ETHx represents Stader’s staked ETH and provides its users with liquid staking benefits. Supporting ETHx on Aave V3 promotes LST diversity and complements existing assets like stETH, cbETH and rETH.

Given their high correlation to ETH, LSTs are commonly used as collateral to borrow ETH and engage in yield leveraged staking. Several communities have built products that automate such strategies on top of Aave. The inclusion of ETHx in the ETH-category E-Mode enables these strategies to maximize the yield potential of the recursive strategy.

The risk parameters have been provided by Chaos Labs, and the smart contracts of ETHx reviewed by BGD Labs. Further details, including LlamaRisk's more qualitative assessment, can be found on the Aave governance forum.

Specification

The table below illustrates the configured risk parameters for ETHx

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (ETHx)3,200
Borrow Cap (ETHx)320
Debt CeilingUSD 0
LTV74.5 %
LT77 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor15 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal45 %
Stable BorrowingDISABLED
Stable Slope10 %
Stable Slope20 %
Base Stable Rate Offset0 %
Stable Rate Excess Offset0 %
Optimal Stable To Total Debt Ratio0 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xD6270dAabFe4862306190298C2B48fed9e15C847

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorummedium confidenceclaude-sonnet-5
Consistent

This proposal follows the standard Aave v3 governance pattern where a single on-chain action (execute()) triggers a payload contract that performs all the granular configuration steps described in the proposal (asset listing, risk parameters, E-Mode inclusion, oracle setting). The decoded calldata only shows this one wrapper call, with no visibility into the specific parameter values set inside the payload contract itself. Because the payload target address matches the linked 'Implementation' reference in the proposal, and this pattern is the well-established norm for Aave listing proposals, there is no basis to flag a mismatch — the description's detailed parameter table is exactly the kind of information encoded inside the payload's internal logic, not separately visible in the top-level calldata. However, since the underlying parameter values (LTV, caps, oracle, E-Mode ID, etc.) cannot be independently verified from the decoded action alone, confidence is medium rather than high. No value, target, or scope mismatches are apparent from what is decodable, and no omissions or extraneous claims are evident at this level of detail.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0fallback()chain 0x1
Target
0x94cd…0350
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

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.