KVORUM
aaveSource: Aave governance v3 · #319

Aave V3.3 Soneium Activation

executedJun 2, 2025, 02:12 PM UTCbyF70xf71f…1e02

01Summary

AISummary by Kvorumclaude-haiku-4-5

This proposal activates the Aave V3 pool on the Soneium network by listing three initial assets (USDCe, USDT, WETH) with predefined risk parameters, setting up governance roles (risk admin, pool admin, emission admin), and completing all bootstrap setup procedures following prior positive governance signaling, technical evaluation, and risk analysis.

Type
protocol addition

Key changes

  • List USDCe, USDT, and WETH assets on Aave V3 Soneium with configured risk parameters including LTV, liquidation thresholds, supply/borrow caps, and oracle configurations(high)
  • Set risk steward as risk admin via ACL_MANAGER.addRiskAdmin()(medium)
  • Set guardian address as pool admin via ACL_MANAGER.addPoolAdmin() for bootstrap security(medium)
  • Set ACI multi-sig (0xac140648435d03f784879cd789130F22Ef588Fcd) as liquidity mining admin for all aTokens and underlying tokens via EMISSION_MANAGER.setEmissionAdmin()(medium)

Notable concerns

  • Pool admin controlled by Aave Guardian during bootstrap period
  • All three initial assets set to zero debt ceiling
  • WETH has higher reserve factor (15%) compared to stablecoins (10%)
  • Proposal execution depends on correct simulation and programmatic verification referenced in external repositories
ContractsAave V3 Soneium PoolACL_MANAGEREMISSION_MANAGER
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

582 words

Simple Summary

This proposal allows the Aave governance to activate the Aave V3 Soneium pool (3.3) by completing all the initial setup and listing USDCe, USDT, WETH as suggested by the risk service providers engaged with the DAO on the governance forum.

All the Aave Soneium V3 addresses can be found in the aave-address-book.

Motivation

All the governance procedures for the expansion of Aave v3 to Soneium have been finished, said:

  • Positive signaling and approval regarding the expansion on the governance forum, and snapshot.
  • Positive technical evaluation done by BGD Labs of the Soneium network, as described in the forum in detail.
  • Positive risk analysis and assets/parameters recommendation by the risk service providers.

Specification

The proposal will do the following:

  • List the following assets on Aave V3 Soneium: USDCe, USDT, WETH.
  • Set the risk steward as the risk admin by executing ACL_MANAGER.addRiskAdmin().
  • Set the guardian address as the pool admin by executing ACL_MANAGER.addPoolAdmin(). This is following the standard procedure of keeping pool admin on the Aave Guardian during the bootstrap period, for security.
  • Set ACI multi-sig as liquidity mining admin for all aTokens and underlying tokens by calling EMISSION_MANAGER.setEmissionAdmin() method.

The table below illustrates the configured risk parameters for the assets to be listed:

ParameterUSDCeUSDTWETH
Isolation Modefalsefalsefalse
BorrowableENABLEDENABLEDENABLED
Collateral Enabledtruetruetrue
Supply Cap8,000,0005,000,000800
Borrow Cap7,200,0004,500,000720
Debt CeilingUSD 0USD 0USD 0
LTV75 %75 %80 %
LT78 %78 %83 %
Liquidation Bonus5 %5 %6 %
Liquidation Protocol Fee10 %10 %10 %
Reserve Factor10 %10 %15 %
Base Variable Borrow Rate0 %0 %0 %
Variable Slope 15.5 %5.5 %2.7 %
Variable Slope 240 %40 %80 %
Uoptimal90 %90 %90 %
FlashloanableENABLEDENABLEDENABLED
Siloed BorrowingDISABLEDDISABLEDDISABLED
Borrowable in IsolationDISABLEDDISABLEDDISABLED
OracleCapped USDC/USDCapped USDT/USDChainlink ETH/USD
Oracle Underlying feedChainlink USDC/USDChainlink USDT/USDN/A
Oracle Latest Answer (18MAY2025)$0.99987956$1.00022312$2499.1478

Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for the underlying tokens listed and their corresponding aTokens.

Security procedures

  • The proposal execution is simulated within the tests and the resulting pool configuration is tested for correctness.
  • The deployed pool and other permissions have been programmatically verified, which can be found on the aave-permissions-book
  • In addition, we have also checked the code diffs of the deployed sonic contracts with the production instance, which can be found here.

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

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

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07Forum

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