KVORUM
aaveSource: Aave governance v3 · #204

Onboard and Enable sUSDe liquid E-Mode on Aave v3 Mainnet and Lido Instances

executedNov 17, 2024, 10:43 AM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal enables sUSDe liquid E-Mode on Aave v3 Mainnet for both Main and Lido instances, allowing users to borrow stablecoins (USDS, USDC) with up to 90% LTV against sUSDe collateral. This increases capital efficiency for sUSDe holders while maintaining controlled risk parameters.

Type
parameter change

Key changes

  • Enable liquid E-Mode for sUSDe with USDS and USDC as borrowable stablecoins(high)
  • Set sUSDe collateral LTV at 90% and liquidation threshold at 92% in E-Mode(high)
  • Configure sUSDe supply cap at 20,000,000 and borrow cap at 1,000(medium)
  • Remove sUSDe from Isolation Mode on Aave v3 Mainnet instance(medium)
  • Set liquidation bonus at 3.0% for sUSDe in E-Mode(low)

Notable concerns

  • High collateral LTV of 90% in E-Mode increases liquidation risk if sUSDe price declines
  • Very low individual LTV of 0.05% outside E-Mode may limit collateral utility in non-E-Mode scenarios
  • Emission admin control concentrated at 0xac140648435d03f784879cd789130F22Ef588Fcd
Contracts0x4c347475403fa6569421209e8bef010180ba6c580x228297bb1a094362088646b45538c1fe80d94fd3
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 3mo ago
Read the description ↗

02Description

469 words

Simple Summary

This proposal aims to enable sUSDe liquid E-Mode on Aave v3 Mainnet for the Main and Lido instances. By implementing this change, we seek to enhance capital efficiency for borrowers using sUSDe as collateral, particularly for borrowing other stablecoins. This is a Direct to AIP proposal.

Motivation

The motivation behind this proposal stems from several key factors:

  • High Utilization: sUSDe has demonstrated significant usage as collateral for borrowing stablecoins on the platform. Capital Efficiency: Enabling liquid E-Mode for sUSDe will allow borrowers to substantially improve their capital efficiency when using this asset as collateral.
  • Controlled Growth: Liquid E-Mode provides a mechanism for more precise control over the growth and borrow demand in relation to the overall stablecoin liquidity within Aave v3 on Mainnet.
  • Enhanced Borrowing Capacity: This change will enable users to borrow larger amounts of other stablecoins against their sUSDe collateral, potentially increasing platform utilization and revenue. By implementing this proposal, we aim to optimize the use of sUSDe within the Aave ecosystem, attracting more liquidity for stablecoins.

Specification

The table below illustrates the configured risk parameters for sUSDe on Aave V3 Lido Instance:

ParameterValue
Isolation Modefalse
BorrowableDISABLED
Collateral Enabledtrue
Supply Cap (sUSDe)20,000,000
Borrow Cap (sUSDe)1000
Debt CeilingUSD 0
LTV0.05 %
LT0.1 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor10 %
Base Variable Borrow Rate0.05 %
Variable Slope 10.1 %
Variable Slope 23 %
Uoptimal1 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xb37aE8aBa6C0C1Bf2c509fc06E11aa4AF29B665A

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

The table below illustrate the configured "sUSDe Stablecoins" Liquid E-mode

ParameterValueValueValue
AssetsUSDeUSDSUSDC
CollateralYesNoNo
BorrowableNoYesYes
Max LTV90%--
Liquidation Threshold92%--
Liquidation Bonus3.0%--

Finally, sUSDe on Aave V3 Mainnet will be removed from Isolation Mode on Aave v3 instance.

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

This is a standard Aave governance proposal structured as two 'execute()' calls to separate payload contracts, one per Aave v3 instance (Mainnet and Lido), consistent with the proposal's stated scope of enabling sUSDe liquid E-Mode on both instances. However, the decoded calldata for both actions shows only a bare fallback/execute() call with empty decoded_arguments — the actual parameter-setting logic (LTV, LT, caps, E-Mode category configuration, emission admin assignment, isolation mode removal) resides inside the deployed payload contract's bytecode and is not visible in this decoded representation. Because none of the specific numeric or address parameters claimed in the description (LTV 90%, LT 92%, liquidation bonus 3%, emission admin address, oracle address, isolation mode removal, etc.) can be independently verified against the calldata provided, I cannot confirm or deny value-level accuracy. The high-level structure (two payloads targeting two instances) does align with the description's intent, so there is no evidence of a mismatch, but the inability to inspect actual parameters means confidence in a detailed comparison is low. No omissions, extra claims, or target mismatches are apparent at the structural level available.'}

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

04Actions

2 total
#0fallback()chain 0x1
Target
0x4c34…6c58
Value
0 wei
Function
fallback()
Arguments
{}
Calldata
#1fallback()chain 0x1
Target
0x2282…4fd3
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.