Aave V3.6 MegaETH Activation

Simple Summary

This proposal allows the Aave governance to activate the Aave V3 MegaETH pool (3.6) by completing all the initial setup and listing WETH, BTCb, USDT0, USDm, wstETH, wrsETH, ezETH as suggested by the risk service providers engaged with the DAO on the governance forum.

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

Motivation

All the governance procedures for the expansion of Aave v3 to MegaETH 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 MegaETH 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 MegaETH: WETH, BTCb, USDT0, USDm, wstETH, wrsETH, ezETH.
• 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.
• Configure L2 Price Oracle Sentinel by calling POOL_ADDRESSES_PROVIDER.setPriceOracleSentinel()

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

Parameter	WETH	BTCb	USDT0	USDm	wstETH	wrsETH	ezETH
Supply Cap	20	2	50,000	50,000	20	20	20
Borrow Cap	10	1	20,000	20,000	1	1	1
Borrowable	DISABLED	DISABLED	ENABLED	ENABLED	DISABLED	DISABLED	DISABLED
Collateral Enabled	false	false	false	false	false	false	false
LTV	0 %	0 %	0 %	0 %	0 %	0 %	0 %
LT	0 %	0 %	0 %	0 %	0 %	0 %	0 %
Liquidation Bonus	0 %	0 %	0 %	0 %	0 %	0 %	0 %
Liquidation Protocol Fee	10 %	10 %	10 %	10 %	10 %	10 %	10 %
Debt Ceiling	USD 0	USD 0	USD 0	USD 0	USD 0	USD 0	USD 0
Isolation Mode	false	false	false	false	false	false	false
Reserve Factor	15 %	20 %	10 %	10 %	20 %	20 %	20 %
Uoptimal	90 %	90 %	90 %	90 %	90 %	90 %	90 %
Base Variable Borrow Rate	0 %	0 %	0 %	0 %	0 %	0 %	0 %
Variable Slope 1	2.5 %	5 %	5 %	5 %	5 %	5 %	5 %
Variable Slope 2	8 %	20 %	10 %	10 %	20 %	20 %	20 %
Flashloanable	ENABLED	ENABLED	ENABLED	ENABLED	ENABLED	ENABLED	ENABLED
Siloed Borrowing	DISABLED	DISABLED	DISABLED	DISABLED	DISABLED	DISABLED	DISABLED
Borrowable in Isolation	DISABLED	DISABLED	ENABLED	ENABLED	DISABLED	DISABLED	DISABLED
E-Mode	WETH/Stablecoins, wstETH/WETH, wrsETH/WETH, ezETH/WETH	BTC.b/Stablecoins	wstETH/Stablecoins, WETH/Stablecoins, BTC.b/Stablecoins	wstETH/Stablecoins, WETH/Stablecoins, BTC.b/Stablecoins	wstETH/WETH, wstETH/Stablecoins	wrsETH/WETH	ezETH/WETH

Please note: As a matter of extra caution, the MegaETH instance will be activated with very limited interim caps, and this AIP authorizes the Aave Protocol Guardian to increase it to the following pre-approved levels below once technical SP have triple checked everything. Additionally, due to the recent stress test, the explorers are not fully indexed, which means that some deployed contracts are not verified. We will verify the contracts before proposal execution once the explorers are fully indexed.:

Asset	Supply Cap	Borrow Cap
WETH	50'000	46'000
BTCb	120	1
USDT0	50'000'000	46'000'000
USDm	100'000'000	95'000'000
wstETH	12'000	1
wrsETH	10'000	1
ezETH	10'000	1

Oracle details:

	wstETH	wrsETH	ezETH	USDT0	USDm	BTCb	WETH
Oracle	Capped wstETH / stETH(ETH) / USD	Capped wrsETH / ETH / USD	Capped ezETH / ETH / USD	Capped USDT/USD	OneUSDFixedAdapter	CL BTC/USD	CL ETH/USD
PriceCap	-	-	-	1.04	-	-	-
Exchange Rate Feed	CL wstETH/stETH	CL rsETH/ETH	CL ezETH/ETH	-	-	-	-
Base Feed	CL ETH/USD	CL ETH/USD	CL ETH/USD	-	-	-	-
MaxYearlyRatioGrowthPercent	9.68%	6.67%	10.89%	-	-	-	-
MinimumSnapshotDelay	7 days	14 days	14 days	-	-	-	-
Latest Answer (3 Feb 2026)	$2785.71258297	$2417.83819495	$2433.10890108	$0.9993542	$1	$77930.8237778	$2272.17630772

E-Mode Configurations:

WETH Stablecoins [EModeId: 1]

Parameter
Asset	WETH	USDT0	USDM
Collateral	Yes	No	No
Borrowable	No	Yes	Yes
Max LTV	80.50%	-	-
Liquidation Threshold	83.00%	-	-
Liquidation Bonus	5.50%	-	-

BTC.b Stablecoins [EModeId: 2]

Parameter
Asset	BTC.b	USDT0	USDM
Collateral	Yes	No	No
Borrowable	No	Yes	Yes
Max LTV	70.00%	-	-
Liquidation Threshold	75.00%	-	-
Liquidation Bonus	6.50%	-	-

wstETH Stablecoins [EModeId: 3]

Parameter
Asset	wstETH	USDT0	USDM
Collateral	Yes	No	No
Borrowable	No	Yes	Yes
Max LTV	75.00%	-	-
Liquidation Threshold	79.00%	-	-
Liquidation Bonus	6.50%	-	-

wstETH Correlated [EModeId: 4]

Parameter
Asset	wstETH	WETH
Collateral	Yes	No
Borrowable	No	Yes
Max LTV	94.00%	-
Liquidation Threshold	96.00%	-
Liquidation Bonus	1.00%	-

wrsETH Correlated [EModeId: 5]

Parameter
Asset	wrsETH	WETH
Collateral	Yes	No
Borrowable	No	Yes
Max LTV	93.00%	-
Liquidation Threshold	95.00%	-
Liquidation Bonus	1.00%	-

ezETH Correlated [EModeId: 6]

Parameter
Asset	ezETH	WETH
Collateral	Yes	No
Borrowable	No	Yes
Max LTV	93.00%	-
Liquidation Threshold	95.00%	-
Liquidation Bonus	1.00%	-

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.

References

• Implementation: AaveV3MegaEth
• Tests: AaveV3MegaEth
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.