aaveSource: Aave governance v3 · #394
Onboard syrupUSDT to Aave V3 Plasma Instance
executedOct 22, 2025, 10:52 AM UTCby570x57ab…2922
01Summary
AISummary by Kvorumclaude-haiku-4-5
This AIP proposes to onboard syrupUSDT (a Maple Finance yield-bearing USDT token) to Aave V3 Plasma Instance with conservative risk parameters. syrupUSDT will be enabled as collateral with a 150 million supply cap, LTV of 0.05%, and integration into a USDT-focused E-Mode category with USDT0. The asset combines USDT with institutional yield strategies and addresses ~$2 billion in pent-up demand for USDT-based yield products on Plasma.
- Type
- protocol addition
Key changes
- Addition of syrupUSDT as collateral asset on Aave V3 Plasma Instance with supply cap of 150 million(high)
- Configuration of syrupUSDT with very low LTV (0.05%) and liquidation threshold (0.1%), positioning it as low-risk collateral(high)
- Creation of USDT E-Mode category enabling up to 90% LTV for syrupUSDT collateral paired with USDT0 borrowing(high)
- Setting of emission admin address 0xac140648435d03f784879cd789130F22Ef588Fcd for syrupUSDT and corresponding aToken(medium)
- Integration of capped oracle pricing mechanism with 7-day minimum snapshot and 8.45% maximum yearly growth limit(medium)
- Borrowing disabled for syrupUSDT (borrow cap set to 1) while flashloans are enabled(medium)
Notable concerns
- Very restrictive LTV of 0.05% in standard mode significantly limits syrupUSDT's collateral value outside E-Mode
- Reliance on Maple Finance's institutional demand (~$2 billion pent-up demand) as key success metric
- New oracle mechanism with capped pricing requires ongoing monitoring for accuracy
- Borrowing functionality disabled but asset can be used in E-Mode, creating two-tier access patterns
- Circular dependency potential: demand depends on E-Mode attractiveness which depends on USDT0 liquidity on Plasma
ContractsAave V3 Plasma InstancesyrupUSDT token contractUSDT0 contract
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
02Description
542 words
Simple Summary
This AIP proposes to onboard syrupUSDT to Aave V3 Plasma Instance.
Motivation
With the recent approval of syrupUSDC on the Core Instance following BGD Labs’ updated technical review we now propose to onboard syrupUSDT to the Plasma Instance. We propose this under the Direct to AIP framework.
Plasma is a Tether-aligned chain, making USDT-based assets a natural fit for its ecosystem. syrupUSDT combines USDT’s ubiquity with Maple’s institutional yield strategies, providing a compelling addition to Aave’s supported assets.
Key reasons for onboarding:
- Chain alignment. Plasma revolves around USDT, so syrupUSDT is more relevant than USDC-based alternatives.
- Strong demand. There is ~$2 billion in pent-up demand for SYRUPUSDT deployment that cannot be accomodated anywhere else. syrupUSDT would capture and expand this demand and increase the utilization of USDT0 on Plasma.
- Non-cyclical yield product. Unlike most yield-bearing opportunities on Aave, syrupUSDT incorporates a non-cyclical component to its returns. This comes from the shorter-term fixed loans it offers, which are structurally designed to provide higher yields than Aave’s variable borrowing rates. This will also help the borrow rates on Aave to stay competitive and consistant, as syrupUSDT will provide continuous demand.
- Network competitiveness. Expanding supported assets on Plasma improves its attractiveness compared to other scaling networks.
- Institutional inflows. Maple’s counterparties are prepared to allocate into syrupUSDT, particularly if it is accepted as collateral on a USDT-centric chain like Plasma.
Specification
The table below illustrates the configured risk parameters for syrupUSDT
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | true |
| Supply Cap (syrupUSDT) | 150,000,000 |
| Borrow Cap (syrupUSDT) | 1 |
| Debt Ceiling | USD 0 |
| LTV | 0.05 % |
| LT | 0.1 % |
| Liquidation Bonus | 6 % |
| Liquidation Protocol Fee | 10 % |
| Reserve Factor | 45 % |
| Base Variable Borrow Rate | 0 % |
| Variable Slope 1 | 10 % |
| Variable Slope 2 | 300 % |
| Uoptimal | 45 % |
| Flashloanable | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
Oracle
| Parameter | syrupUSDT |
|---|---|
| Oracle | Capped syrupUSDT / USDT / USD |
| BASE/USD Oracle | Capped USDT/USD |
| BASE/USD Oracle | ChainlinkUSDT/USD |
| Ratio Provider | SYRUPUSDT-USDT Exchange Rate |
| Oracle Latest Answer | (2025-10-16) USD 1.09822744 |
| min snapshot | 7 days |
| max yearly growth | 8.45% |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for syrupUSDT and the corresponding aToken.
E-Mode
| Parameter | Value | Value |
|---|---|---|
| Asset | syrupUSDT | USDT0 |
| Collateral | Yes | No |
| Borrowable | No | Yes |
| Max LTV | 90.00% | - |
| Liquidation Threshold | 92.00% | - |
| Liquidation Bonus | 4.00% | - |
References
- Implementation: AaveV3Plasma
- Tests: AaveV3Plasma
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
AIMismatch analysis by Kvorum
A calldata-vs-description analysis is not generated yet. Review the decoded actions →
04Actions
0 total
This proposal carries no on-chain actions.
05Tally
Summed from votes
Against0.0%0
For100.0%748.8K
Voters75
VP participating748.8K
Outcome (current)For
Current support100%
06Voters
75 total
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| EA0xea0c…6b5a | For | 333K | 44.47% | — | 1y ago |
| 570x57ab…2922 | For | 143.6K | 19.18% | — | 1y ago |
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07Forum
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