KVORUM
aaveSource: Aave governance v3 · #233

Onboard LBTC & Enable LBTC/WBTC liquid E-Mode on Aave v3 Core Instance

executedJan 24, 2025, 12:37 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal onboards LBTC (Lombard Bitcoin) to Aave V3 Core Instance and enables LBTC/WBTC liquid E-Mode, allowing borrowers to use LBTC as collateral with enhanced capital efficiency through optimized risk parameters and specialized E-Mode settings.

Type
protocol addition

Key changes

  • Onboard LBTC as a new collateral asset with 70% LTV, 75% liquidation threshold, and 800 supply cap(high)
  • Enable LBTC/WBTC liquid E-Mode with 84% max LTV and 86% liquidation threshold for LBTC collateral and WBTC borrowing(high)
  • Configure LBTC borrow cap at 80 units with 0% base variable borrow rate and tiered variable slopes (4% and 300%)(medium)
  • Set emission admin for LBTC and corresponding aToken to 0xac140648435d03f784879cd789130F22Ef588Fcd(medium)
  • Enable LBTC flashloan functionality while disabling siloed borrowing and borrowing in isolation mode(low)

Notable concerns

  • High borrow demand may be controlled via E-Mode mechanism to manage stablecoin liquidity
  • 300% variable slope 2 creates steep borrowing costs at high utilization rates
  • Debt ceiling initially set to USD 0, requiring future governance action to enable LBTC as collateral for stablecoin loans
Contracts0x76182e201eecd702253a12b3feecdf98fcdbf7240xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c0xac140648435d03f784879cd789130F22Ef588Fcd
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

400 words

Simple Summary

This proposal aims to onboard LBTC and enable LBTC/WBTC liquid E-Mode for the Main Instance. By implementing this change, we seek to enhance capital efficiency for borrowers using LBTC/WBTC as collateral.

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Motivation

The motivation behind this proposal stems from several key factors:

  • High Utilization: LBTC/WBTC has demonstrated significant usage as collateral for borrowing stablecoins on other platforms.
  • Capital Efficiency: Enabling liquid E-Mode for LBTC/WBTC 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 Core Instance.

By implementing this proposal, we aim to optimize the use of LBTC/WBTC within the Aave ecosystem, attracting more liquidity for the protocol and increasing revenues.

Specification

The table below illustrates the configured risk parameters for LBTC

ParameterValue
Isolation Modefalse
BorrowableENABLED
Collateral Enabledtrue
Supply Cap (LBTC)800
Borrow Cap (LBTC)80
Debt CeilingUSD 0
LTV70 %
LT75 %
Liquidation Bonus8.5 %
Liquidation Protocol Fee10 %
Reserve Factor50 %
Base Variable Borrow Rate0 %
Variable Slope 14 %
Variable Slope 2300 %
Uoptimal45 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c

Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for LBTC and the corresponding aToken.

E-mode

the following E-mode will be created

ParameterValueValue
AssetLBTCWBTC
CollateralYesNo
BorrowableNoYes
Max LTV84%-
Liquidation Threshold86%-
Liquidation Bonus3.00%-

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal description is detailed, specifying exact risk parameters for onboarding LBTC, setting an emission admin, and creating a new LBTC/WBTC E-Mode category. However, the decoded on-chain action is a single opaque call: execute() (fallback) on a payload contract address. This is the standard Aave governance pattern where the executor triggers a payload contract that internally performs all the granular configuration steps (listing, cap-setting, e-mode creation, emission admin assignment) via delegatecall or internal logic not surfaced in this top-level decoding. Because only one generic 'execute()' action is decoded, there is no way to directly verify each numeric parameter (LTV, LT, caps, rates, e-mode thresholds) against calldata — the payload's internal logic is not exposed in the provided decoded actions. This is typical and expected for Aave v3 governance proposals of this type, not evidence of a mismatch. No claims in the description conflict with what is visible in the calldata, and no extra or omitted top-level actions are apparent. Given the lack of granular calldata visibility, confidence in a full parameter-by-parameter comparison is low, but there is no indication of any inconsistency, redirection of funds, or misleading claims. Assessment: consistent, with low confidence due to the payload being an opaque single-call execution typical of this proposal type.

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
0x7618…f724
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.