KVORUM
aaveSource: Aave governance v3 · #140

Onboarding weETH to Aave V3 on Scroll

executedAug 5, 2024, 04:30 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Add Ether.fi's weETH Liquid Restaking Token to Aave V3 on Scroll with specified risk parameters including a 2,000 weETH supply cap, 400 weETH borrow cap, 72.5% LTV, and placement in the ETH-correlated E-Mode category.

Type
protocol addition

Key changes

  • Onboarding weETH as a new collateral and borrowable asset on Aave V3 Scroll(high)
  • Setting Supply Cap at 2,000 weETH and Borrow Cap at 400 weETH(high)
  • Configuring LTV at 72.5% and Liquidation Threshold at 75%(medium)
  • Enabling flashloans for weETH while disabling stable borrowing and siloed borrowing(medium)
  • Setting 7% Variable Slope 1 and 300% Variable Slope 2 for interest rate curve(medium)

Notable concerns

  • Liquidation bonus of 7.5% relatively low compared to other assets
  • Base variable borrow rate at 0% may require monitoring for sustainability
ContractsAave V3 Scroll
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

319 words

Simple Summary

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

After the successful onboarding of weETH to Aave v3 Ethereum , Arbitrum , and Base , alongside recent Supply and Borrow Cap increases for weETH due to significant demand, this proposal will further increase the ability for Aave to service weETH demand from users.

Motivation

weETH 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 weETH on Arbitrum and Base allowing L2 users to get exposure to LRT yield and points. As weETH has already been approved for onboarding to Aave V3 on Ethereum, Arbitrum, and Base by the DAO, this proposal extends the onboarding of weETH to Aave v3 on Scroll.

Specification

The table below illustrates the configured risk parameters for weETH

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (weETH)2,000
Borrow Cap (weETH)400
Debt CeilingUSD 0
LTV72.5 %
LT75 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor15 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal45 %
Stable BorrowingDISABLED
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0x32f924C0e0F1Abf5D1ff35B05eBc5E844dEdD2A9
E-Mode CategoryETH-correlated

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorum

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04Actions

0 total

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05Tally

Summed from votes

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VP participating0
Outcome (current)—
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06Voters

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07Forum

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