KVORUM
aaveSource: Aave governance v3 · #231

Onboard sUSDe and weETH to Aave v3 on zkSync

executedJan 18, 2025, 02:28 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to onboard sUSDe and weETH to Aave v3 on zkSync with configured risk parameters and ZK token incentives from Ethena and EtherFi partnerships.

Type
protocol addition

Key changes

  • Onboard weETH as collateral-enabled asset with 72.5% LTV, 300 supply cap, and 1 borrow cap(high)
  • Onboard sUSDe in isolation mode as collateral-enabled asset with 65% LTV, 400,000 supply cap, and USD 400,000 debt ceiling(high)
  • Enable flash loans for both weETH and sUSDe(medium)
  • Set emission admin at 0x95Cbff6e45C499d45dd8627f3ce179057B5Fbfcc for weETH, sUSDe and their corresponding aTokens to facilitate ZK token incentives(medium)
  • Configure variable borrow rate slopes and optimal utilization rates for market stability(medium)

Notable concerns

  • weETH has very restrictive borrow cap of 1 unit despite 300 supply cap
  • sUSDe isolation mode restricts its use in combination with other collaterals
  • Both assets have 0 base variable borrow rate which may not generate protocol revenue at low utilization
ContractsAave v3 zkSyncsUSDe marketweETH market
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

435 words

Simple Summary

This proposal aims to onboard sUSDe and weETH to the Aave v3 protocol on zkSync. This follows the original plans for further expansion on the network.

Motivation

The integration of sUSDe, and weETH into Aave v3 on zkSync is following the initial plan for the zkSync network launch. With the successful launch of Aave v3 on zkSync, and some time for monitoring, we believe it is time to start expanding from the initial asset list.

These onboardings also include partnership with Ethena and EtherFi to add ZK token incentives to each market, which will contribute to Aave’s growth on zkSync.

Specification

The table below illustrates the configured risk parameters for weETH

ParameterValue
Isolation Modefalse
BorrowableDISABLED
Collateral Enabledtrue
Supply Cap (weETH)300
Borrow Cap (weETH)1
Debt CeilingUSD 0
LTV72.5 %
LT75 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor45 %
Base Variable Borrow Rate0 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal30 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0x32aF9A0a47B332761c8C90E9eC9f53e46e852b2B

The table below illustrates the configured risk parameters for sUSDe

ParameterValue
Isolation Modetrue
BorrowableDISABLED
Collateral Enabledtrue
Supply Cap (sUSDe)400,000
Borrow Cap (sUSDe)1
Debt CeilingUSD 400,000
LTV65 %
LT75 %
Liquidation Bonus8.5 %
Liquidation Protocol Fee10 %
Reserve Factor20 %
Base Variable Borrow Rate0 %
Variable Slope 19 %
Variable Slope 275 %
Uoptimal80 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xDaec4cC3a41E423d678428A8Bb29fa1ADF26869a

Additionally 0x95Cbff6e45C499d45dd8627f3ce179057B5Fbfcc has been set as the emission admin for weETH, sUSDe and their corresponding aTokens.

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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