KVORUM
aaveSource: Aave governance v3 · #263

wrsETH Base Onboarding

executedMar 9, 2025, 01:06 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal onboards wrsETH (wrapped Kelp DAO rsETH) to Aave V3 on Base network as collateral, enabling users to supply it. The asset has conservative risk parameters with 0.05% LTV and 0.1% LT, is non-borrowable with a 400 supply cap, and includes an e-mode pairing with wstETH.

Type
protocol addition

Key changes

  • wrsETH added as collateral asset on Aave V3 Base with supply cap of 400 tokens(high)
  • Risk parameters configured with very low LTV (0.05%) and LT (0.1%), non-borrowable by default(high)
  • E-mode category added pairing wrsETH (collateral, 92.5% LTV) with wstETH (borrowable)(medium)
  • Flashloan enabled for wrsETH(low)
  • Emission admin configured for wrsETH and corresponding aToken(medium)

Notable concerns

  • Extremely low LTV (0.05%) and LT (0.1%) suggest high caution regarding asset risk
  • Supply cap of only 400 tokens is restrictive
  • Asset marked as non-borrowable with minimal borrow cap (1 token)
  • Conservative risk parameters may limit utility for users
ContractsAave V3 Base InstancewrsETH token contractOracle: 0x567E7f3DB2CD4C81872F829C8ab6556616818580Emission admin: 0xac140648435d03f784879cd789130F22Ef588Fcd
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

323 words

Simple Summary

This is an AIP to onboard rsETH to the Aave V3 Base Instance allowing Aave users to supply wrsETH as collateral. This proposal will be under Direct to AIP, as rsETH is already listed on other Aave instances.

Motivation

rsETH has seen continued growth across networks, and is currently the only of the onboarded LRT not available on Base. We expect further growth of this asset with onboarding to this networks.

Specification

The table below illustrates the configured risk parameters for wrsETH

ParameterValue
Isolation Modefalse
BorrowableDISABLED
Collateral Enabledtrue
Supply Cap (wrsETH)400
Borrow Cap (wrsETH)1
Debt CeilingUSD 0
LTV0.05 %
LT0.1 %
Liquidation Bonus7.5 %
Liquidation Protocol Fee10 %
Reserve Factor20 %
Base Variable Borrow Rate1 %
Variable Slope 17 %
Variable Slope 2300 %
Uoptimal45 %
FlashloanableENABLED
Siloed BorrowingDISABLED
Borrowable in IsolationDISABLED
Oracle0x567E7f3DB2CD4C81872F829C8ab6556616818580

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

Moreover the following e-mode will be added:

ParameterValueValue
AssetwrsETHwstETH
CollateralYesNo
BorrowableNoYes
LTV92.50%-
LT94.50%-
Liquidation Penalty1.00%-

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

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Outcome (current)—
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06Voters

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07Forum

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