KVORUM
aaveSource: Aave governor v2 · #372

Add FXS to Ethereum V3

executedNov 20, 2023, 09:25 AM UTCby320x329c…3ed4

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to add FXS (Frax Shares Token) as a new asset to Ethereum Aave V3 with specified risk parameters including 800k supply cap, 500k borrow cap, 35% LTV, and $4M debt ceiling. Supported by Gauntlet analysis.

Type
protocol addition

Key changes

  • Add FXS token to Aave V3 Ethereum as a new collateral asset with isolation mode enabled(high)
  • Set supply cap at 800,000 FXS and borrow cap at 500,000 FXS with $4M debt ceiling(high)
  • Configure LTV at 35%, liquidation threshold at 45%, and liquidation bonus at 10%(high)
  • Enable FXS as both borrowable and flashloanable asset with variable borrow rates (base 0%, slope1 9%, slope2 300%)(medium)
  • Set reserve factor at 20% with Chainlink oracle price feed integration(medium)
Contracts0x3432B6A60D23Ca0dFCa7761B7ab56459D9C964D00x6Ebc52C8C1089be9eB3945C4350B68B8E4C2233f0x9aee0b04504cef83a65ac3f0e838d0593bcb2bc7
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

315 words

Simple Summary

This publication presents the community with an opportunity to add FXS to the Ethereum Aave v3 Liquidity Pool.

Motivation

Frax Finance is a DeFi protocol that offers a stable protocol for issuing FRAX/FPI/frxETH and subprotocols such as Fraxlend, Fraxswap, and Fraxferry. The Frax Shares Token ($FXS) serves a dual role as both a governance token and a utility token.

The addition of FXS to Aave V3 represents the introduction of a new asset, encouraging the transition from Aave V2 to V3 and diversifying collateral assets for GHO. Furthermore, Aave DAO can utilize FXS obtained from the pool to kickstart the adoption of GHO and/or new aTokens.

Specification

The parameters shown below are supported by @Gauntlet Ticker: FXS Contract Adress: 0x3432B6A60D23Ca0dFCa7761B7ab56459D9C964D0 Chainlink Oracle: 0x6Ebc52C8C1089be9eB3945C4350B68B8E4C2233f

ParameterRecommendation (Gauntlet)
Isolation ModeYES
BorrowableYES
Collateral EnabledYES
Supply Cap (FXS)800,000
Borrow Cap (FXS)500,000
Debt Ceiling$4M
LTV35.00%
LT45.00%
Liquidation Bonus10.00%
Liquidation Protocol Fee10.00%
Reserve Factor20.00%
Base Variable Borrow Rate0.00%
Variable Slope 19.00%
Variable Slope 2300.00%
Uoptimal45.00%
Stable BorrowingNO
Stable Slope113.00%
Stable Slope2300.00%
Base Stable Rate Offset3.00%
Stable Rate Excess Offset5.00%
Optimal Stable To Total Debt Ratio20.00%
FlahloanableYES
Siloed BorrowingNO
Borrowable in IsolationNO

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal's on-chain footprint is a single generic call to the Aave governance v3 'forwardPayloadForExecution' function, which merely dispatches a pre-built payload (identified by id 1) to an executor contract for execution. The actual reserve-listing logic for FXS (supply/borrow caps, LTV, liquidation parameters, interest rate curve, etc.) lives inside that forwarded payload contract and is not itself decoded in the provided calldata. This means I cannot directly verify the specific numeric parameters (35% LTV, 45% LT, 800k supply cap, etc.) against on-chain calldata — they are asserted only in the payload's source code referenced in the description, not visible here. However, the high-level action (forwarding a payload to add FXS to the Aave V3 Ethereum pool) is fully consistent with the description's stated purpose, and there is nothing in the decoded action that contradicts or extends beyond what the description claims (e.g., no unrelated transfers, role grants, or upgrades). Because the decoded calldata is opaque about the granular parameters, my confidence in a detailed parameter-by-parameter comparison is low, but at the level of what can be verified, the action is consistent with the description's intent.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0forwardPayloadForExecution((uint256,uint8,address,uint40))chain 0x1
Target
0x9aee…2bc7
Value
0 wei
Function
forwardPayloadForExecution((uint256,uint8,address,uint40))
Arguments
{
  "0": [
    "1",
    "1",
    "0xdAbad81aF85554E9ae636395611C58F7eC1aAEc5",
    "18"
  ]
}
Calldata

05Tally

Summed from votes

Voters34
VP participating499.5K
Outcome (current)For
Current support100%

06Voters

34 total
Filter:
VoterChoice% of totalRationale
320x329c…3ed4For116.5K23.33%—3y ago
070x0703…961bFor86.8K17.37%—3y ago
130x13bd…8548For61.3K12.27%—3y ago
2C0x2cc1…4df1For43.7K8.74%—3y ago
B90xb933…8dd1For42.4K8.49%—3y ago
EA0xea17…6676For38.7K7.76%—3y ago
EZezr3al.eth0x8659…7d0eFor38K7.62%—3y ago
570x57ab…2922For27.3K5.47%—3y ago
870x8787…ea52For21.1K4.22%—3y ago
E40xe459…e666For20K4.00%—3y ago
180x1855…98baFor3.6K0.72%—3y ago
DF0xdf06…4977For27.30.01%—3y ago
EC0xecc2…6ac9For200.00%—3y ago
E00xe099…d4e0For1.30.00%—3y ago
740x74a2…c125For10.00%—3y ago
040x047d…7178For10.00%—3y ago
8A0x8a77…d2a1For0.80.00%—3y ago
F70xf736…ad98For0.60.00%—3y ago
820x82ea…1fccFor0.50.00%—3y ago
F10xf152…5710For0.20.00%—3y ago
CD0xcdb0…7a8bFor0.20.00%—3y ago
B00xb068…ec63For0.20.00%—3y ago
400x407d…693eFor0.20.00%—3y ago
250x2506…29ceFor0.20.00%—3y ago
450x4569…d88cFor0.10.00%—3y ago
EF0xef54…a713For0.10.00%—3y ago
530x5398…4555For0.10.00%—3y ago
A00xa0a9…3c1bFor0.10.00%—3y ago
A40xa466…94eeFor0.10.00%—3y ago
0A0x0a1f…a125For0.10.00%—3y ago
1A0x1ae3…4839For00.00%—3y ago
D60xd66f…eb75For00.00%—3y ago
D60xd62c…8d30For00.00%—3y ago
BF0xbf35…156cFor00.00%—3y ago
Showing 34

07Forum

No forum thread is confidently linked to this proposal.