KVORUM
aaveSource: Aave governance v3 · #195

Onboard wstETH to Aave V3 on BNB Chain

executedNov 4, 2024, 02:37 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

This AIP proposes adding wstETH (wrapped staked ETH) as a collateral and borrowable asset to Aave V3 on BNB Chain with a 1,900 wstETH supply cap and 190 wstETH borrow cap, configured with 72% LTV and inclusion in an ETH-Correlated E-mode category.

Type
protocol addition

Key changes

  • Onboard wstETH as collateral and borrowable asset on Aave V3 BNB Chain(high)
  • Set supply cap at 1,900 wstETH and borrow cap at 190 wstETH(high)
  • Configure risk parameters including 72% LTV, 75% liquidation threshold, and 7.5% liquidation bonus(high)
  • Enable wstETH in ETH-Correlated E-mode with 93% max LTV and 95% liquidation threshold(high)
  • Set 0xac140648435d03f784879cd789130F22Ef588Fcd as emission admin for wstETH and corresponding aToken(medium)
ContractsAave V3 BNB ChainwstETH token on BNB Chain
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

340 words

Simple Summary

This AIP proposes the onboard of wstETH (wrapped staked ETH) to Aave V3 on BNB Chain to improve Aave’s reach across alternative chains and provide increased choice for Aave users on BNB Chain.

Motivation

wstETH is one of the most popular collateral and borrow tokens on Aave, with over $4 billion in deposits and $100m in borrows across Aave deployments. The onboarding of wstETH to the Aave V3 on BNB Chain will give Aave users more options for generating staking yield on their collateral and increase dominance of Aave on BNB Chain.

Specification

The table below illustrates the configured risk parameters for wstETH

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (wstETH)1,900
Borrow Cap (wstETH)190
Debt CeilingUSD 0
LTV72 %
LT75 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor15 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal45 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xc1377B4cdF9116bf7b3d7F72A4f8A7Be8506cE80

The table below illustrate the configured "ETH-Correlated" E-mode

ParameterwstETHWETH
CollateralYesNo
BorrowableNoYes
Max LTV93%93%
Liquidation Threshold95%95%
Liquidation Penalty1.00%1.00%

Additionaly 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for wstETH and the corresponding aToken.

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorum

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04Actions

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05Tally

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Outcome (current)—
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06Voters

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07Forum

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