Onboard Native USDC to Aave V3 Optimism
01Summary
Proposal to integrate native USDC (0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85) into Aave V3 on Optimism as the primary stablecoin, with matching supply and borrow caps of 25M and 20M respectively, while increasing USDC.e reserve factor to 20% to incentivize migration to native USDC.
- Type
- protocol addition
Key changes
- Onboard native USDC token to Aave V3 Optimism pool with supply cap of 25M and borrow cap of 20M(high)
- Increase USDC.e reserve factor from baseline to 20% to incentivize migration to native USDC(high)
- Mirror all other risk parameters for native USDC to match USDC.e configuration(medium)
- Maintain USDC.e supply cap at 25M and borrow cap at 20M during transition(medium)
Notable concerns
- Dual stablecoin configuration during transition period requires monitoring of liquidity distribution between USDC and USDC.e
- Reserve factor increase on USDC.e may influence user behavior and capital flows between the two stablecoin versions
Generated by Kvorum
02Description
Simple Summary
This ARFC proposes integrating native USDC into the Aave V3 pool on Optimism, positioning it as the primary stablecoin version over the bridged USDC.e.
Motivation
With the evolution of L2 networks, adopting native USDC versions becomes vital for efficiency. This proposal seeks a balanced transition from USDC.e to native USDC on Optimism, drawing from similar successful integrations on other networks.
Specification
Token Information
- Token Symbol: USDC
- Token Address: 0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85
Parameters
- Supply Cap:
- USDC: 25M
- USDC.e: 25M
- Borrow Cap:
- USDC: 20M
- USDC.e: 20M
- Reserve Factor (RF):
- USDC.e: Increase to 20% to incentivize native USDC usage.
All other risk parameters for native USDC will mirror those of USDC.e.
References
- Implementation: AaveV3Optimism
- Tests: AaveV3Optimism
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
03Mismatch analysis
The proposal describes onboarding native USDC to the Aave V3 Optimism market with specific supply/borrow caps and a reserve factor increase for USDC.e. The single decoded on-chain action is a `forwardPayloadForExecution` call targeting the Aave cross-chain governance bridge, which forwards payload ID 10 to be executed on Optimism (chain ID 10) via a specific payload controller address. This is the standard architecture for Aave governance proposals affecting L2 markets: the L1 vote only authorizes forwarding of a payload, while the granular parameter changes (supply caps, borrow caps, reserve factor) are encoded inside the target payload contract on Optimism and are not visible in this L1 calldata. Because this is the expected and routine mechanism for such proposals, and there is no indication that the forwarded payload target or chain differs from what the description implies (Optimism), I did not find any value, target, or omission mismatches that a reviewer should be concerned about. The lack of visibility into the L2 payload's internal calls limits full verification of the exact numeric parameters, but this is consistent with normal proposal structure rather than a red flag, so confidence is medium rather than high.'
Generated by Kvorum
04Actions
- Target
- 0x9aee…2bc7
- Value
- 0 wei
- Function
- forwardPayloadForExecution((uint256,uint8,address,uint40))
- Arguments
{ "0": [ "10", "1", "0x0E1a3Af1f9cC76A62eD31eDedca291E63632e7c4", "5" ] }- Calldata
05Tally
Summed from votes
06Voters
| Voter | Choice | % of total | Rationale | ||
|---|---|---|---|---|---|
| 320x329c…3ed4 | For | 108.9K | 28.04% | — | 3y ago |
| 070x0703…961b | For | 86.8K | 22.35% | — | 3y ago |
| 2C0x2cc1…4df1 | For | 43.7K | 11.24% | — | 3y ago |
| EA0xea17…6676 | For | 38.7K | 9.98% | — | 3y ago |
| EZezr3al.eth0x8659…7d0e | For | 38.1K | 9.81% | — | 3y ago |
| 570x57ab…2922 | For | 27.3K | 7.03% | — | 3y ago |
| 870x8787…ea52 | For | 21.2K | 5.46% | — | 3y ago |
| E40xe459…e666 | For | 20K | 5.15% | — | 3y ago |
| 180x1855…98ba | For | 3.6K | 0.92% | — | 3y ago |
| DF0xdf06…4977 | For | 27.3 | 0.01% | — | 3y ago |
| D40xd4b2…3a4f | For | 2 | 0.00% | — | 3y ago |
| 1A0x1aab…65dd | For | 1 | 0.00% | — | 3y ago |
| 700x70df…1889 | For | 1 | 0.00% | — | 3y ago |
| F70xf736…ad98 | For | 0.6 | 0.00% | — | 3y ago |
07Forum
No forum thread is confidently linked to this proposal.
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