Onboard SPCXc to the Aave V4 Equities Hub on Base
01Summary
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02Description
Simple Summary
This proposal onboards SPCXc as collateral only on the existing MAG7 Spoke of the Aave V4 Equities Hub on Base, with USDC available to borrow against it. It follows the Direct to AIP route.
Motivation
SPCXc is a tokenized equity issued by Base, providing onchain exposure to SpaceX shares, which trade on Nasdaq under the ticker SPCX. The Equities Hub on Base currently holds seven tokenized equities alongside USDC.
Onboarding SPCXc would:
- Add tokenized SpaceX equity exposure to the Aave V4 Equities Hub on Base.
- Broaden the set of tokenized equities available on the Equities Hub.
Specification
The payload lists SPCXc on the Equities Hub and MAG7 Spoke with the parameters below, and sets the MAG7 Spoke's USDC risk premium threshold to 1100%.
Spoke Parameters
| Chain | Hub | Spoke | Reserve | Collateral Factor | Max Liquidation Bonus | Borrowable | Collateral Risk | Liquidation Fee | Risk Premium Threshold | Receive Shares |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Equities Hub | MAG7 Spoke | SPCXc | 55.00% | 6.50% | FALSE | 10.00% | 10.00% | 0.00% | TRUE |
Add and Draw Caps
| Chain | Hub | Spoke | Reserve | Add Cap | Draw Cap |
|---|---|---|---|---|---|
| Base | Equities Hub | MAG7 Spoke | SPCXc | 37,000 | 0 |
Hub Spoke Configuration
| Chain | Hub | Spoke | Asset | Risk Premium Threshold |
|---|---|---|---|---|
| Base | Equities Hub | MAG7 Spoke | USDC | 1100% |
Price Feed
SPCXc uses the Chainlink total return feed, which includes the issuer multiplier and follows 24/5 US equities market hours.
| Reserve | Token | Chainlink feed |
|---|---|---|
| SPCXc | 0xb2000000000000000000007b9fcbd005511acbd5 | 0x6A634B235903C4ad6376892180d6fF8612e3Fa68 |
Execution permissions
The payload grants the Base governance executor SPOKE_CONFIGURATOR_DOMAIN_ADMIN_ROLE (400) on the Base AccessManager with zero execution delay. This persistent role permits the executor to call the SpokeConfigurator functions assigned to that role, including addReserve. Existing selector assignments remain unchanged.
Disclaimer
This proposal was prepared by Aave Labs in its capacity as a contributor to the Aave ecosystem. Aave Labs has no direct financial relationship with Base or its affiliates and has not received compensation from Base or its affiliates in connection with this proposal.
References
- Implementation: AaveV4Base
- Tests: AaveV4Base
- Discussion
- Risk parameters
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
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04Actions
This proposal carries no on-chain actions.
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 330x3320…3bb7 | for | 107.2K | 28.92% | — | 9d ago |
| 2C0x2cc1…4df1 | for | 88.6K | 23.89% | — | 7d ago |
| 8B0x8b37…2a22 | for | 75.9K | 20.47% | — | 8d ago |
| B90xb933…8dd1 | for | 53.7K | 14.48% | — | 9d ago |
| 360x3676…574d | for | 25K | 6.74% | — | 8d ago |
| C00xc0d6…b802 | for | 20.2K | 5.44% | — | 7d ago |
| 080x0865…24ce | for | 151.2 | 0.04% | — | 9d ago |
| 880x88c4…2fdd | for | 38.5 | 0.01% | — | 8d ago |
| 960x96ea…c6a4 | for | 5.1 | 0.00% | — | 8d ago |
| 850x850e…75d7 | for | 2.4 | 0.00% | — | 7d ago |
| 2F0x2f2f…f78a | for | 0.2 | 0.00% | — | 9d ago |
| 160x168f…7400 | for | 0.1 | 0.00% | — | 8d ago |
| 260x26d5…141f | for | 0 | 0.00% | — | 9d ago |
07Forum
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