Aave

Simple Summary

The proposal aims to onboard Coinbase’s cbBTC, to the Aave v3 protocol on Mainnet main instance & Base.

Motivation

cbBTC, a new Bitcoin wrapper offering from Coinbase, is marking Coinbase’s entry into the wrapped Bitcoin market with cbBTC brings a unique value proposition to the Aave ecosystem.

This new asset will diversify the options available for Bitcoin holders looking to participate in DeFi activities on Aave v3.

Furthermore, cbBTC’s integration aligns with Aave’s commitment to offering a wide range of high-quality assets. It will enable users to tap into Coinbase’s liquidity and reputation while benefiting from Aave’s established lending and borrowing functionalities. This synergy between a major centralized exchange and a leading DeFi protocol could attract more mainstream users to Aave, contributing to the overall growth and adoption of the platform.

Specification

The table below illustrates the configured risk parameters for cbBTC on Ethereum main pool and Base pool:

Parameter	Ethereum Main Pool	Base Pool
Isolation Mode	false	false
Borrowable	ENABLED	ENABLED
Collateral Enabled	true	true
Supply Cap (cbBTC)	450	200
Borrow Cap (cbBTC)	45	20
Debt Ceiling	USD 0	USD 0
LTV	73 %	73 %
LT	78 %	78 %
Liquidation Bonus	7.5 %	7.5 %
Liquidation Protocol Fee	10 %	10 %
Reserve Factor	20 %	20 %
Base Variable Borrow Rate	0 %	0 %
Variable Slope 1	4 %	4 %
Variable Slope 2	300 %	300 %
Uoptimal	45 %	45 %
Stable Borrowing	DISABLED	DISABLED
Flashloanable	ENABLED	ENABLED
Siloed Borrowing	DISABLED	DISABLED
Borrowable in Isolation	DISABLED	DISABLED
Oracle	0xF4030086522a5bEEa4988F8cA5B36dbC97BeE88c	0x64c911996D3c6aC71f9b455B1E8E7266BcbD848F

References

• Implementation: AaveV3Ethereum, AaveV3Base
• Tests: AaveV3Ethereum, AaveV3Base
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.