Add EURC to BASE Aave V3
Simple Summary
The current ARFC proposes to add EURC on Base V3. EURC is Circle’s EUR-backed stablecoin, enhancing liquidity and expanding the platform’s appeal to European users. Original proposal was [TEMP CHECK] Add EURC to BASE Aave V3 but has been reformatted to be governance compliant. It has also passed TEMP CHECK Snapshot .
Motivation
EURC is a fully backed stablecoin pegged to the Euro, issued by Circle, the same entity behind USDC. It is a reliable and transparent Euro-denominated asset gaining adoption across DeFi protocols.
- Utility and Role: EURC facilitates Euro-based transactions in DeFi, allowing for a stable store of value and an efficient medium of exchange within the ecosystem.
- Backers: Circle is a trusted issuer with a track record of regulatory compliance, providing confidence in EURC’s stability.
- Performance: EURC has demonstrated consistent performance and adoption within the broader DeFi space such as Morpho (3M), Alien(4M) and Aerodome (3M).
- Euro Liquidity: EURC will offer Aave users access to Euro-denominated liquidity, appealing to the European market.
- Broader User Base: Listing EURC could attract new users from Europe, diversifying Aave’s stablecoin offerings.
- Increased Liquidity: The addition of EURC can enhance liquidity across Aave’s markets, improving lending, borrowing, and trading experiences.
Specification
The table below illustrates the configured risk parameters for EURC
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | ENABLED |
| Collateral Enabled | true |
| Supply Cap (EURC) | 4,200,000 |
| Borrow Cap (EURC) | 3,800,000 |
| Debt Ceiling | USD 0 |
| LTV | 75 % |
| LT | 78 % |
| Liquidation Bonus | 5 % |
| Liquidation Protocol Fee | 10 % |
| Reserve Factor | 10 % |
| Base Variable Borrow Rate | 0 % |
| Variable Slope 1 | 8.5 % |
| Variable Slope 2 | 40 % |
| Uoptimal | 90 % |
| Flashloanable | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | 0x215f25556f91b30afcf0a12da51c9d4374b22570 |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for EURC and the corresponding aToken.
References
- Implementation: AaveV3Base
- Tests: AaveV3Base
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x57ab...112922 | 396,077 | YAE |
 EzR3aL | 116,697 | YAE |
 0x8b37...502a22 | 115,041 | YAE |
 TokenLogic | 46,809 | YAE |
 StableLab | 43,339 | YAE |
VOTE POWER
Proposal Status
- Fri March 07 2025, 09:33 amVoting Period Starts
- Mon March 10 2025, 09:33 amEnd Voting Period
- Mon March 10 2025, 10:15 amQueue Proposal
- Mon March 10 2025, 10:15 amExecute Proposal
Current Results
1-YAE
818,382.3
2-NAY
N/A Tokens