Aave

Simple Summary

This AIP proposal presents Aave with the opportunity to onboard USDT to the Ethereum v3 Liquidity Pool.

Motivation

Supporting stablecoin diversity is part of the Aave-Chan Initiative (ACI) delegate platform.

The ACI does not have any link nor is paid by Tether or any entity to present this ARC.

The risk parameters provided introduce USDT as a non-collateral asset.

The Interest rate Strategy curve is the same as for USDT in V2. for now. The ACI is supportive of onboarding USDT as it was in V2. For now, the ACI doesn’t consider V3 mature enough to activate a USD stablecoins emode and consider USDT in it. Also, supply and borrow caps are suggested for this asset to limit risk exposure.

Specification

Ticker: USDT

Contract Address: 0xdAC17F958D2ee523a2206206994597C13D831ec7

Risk Parameter	Value
Isolation Mode	NO
Enable Borrow	YES
Enable Collateral	NO
Loan To Value	N/A
Liquidation Threshold	N/A
Liquidation Bonus	N/A
Reserve Factor	10%
Liquidation Protocol Fee	10%
Borrow Cap	185M
Supply Cap	200M
Debt Ceiling	N/A
Base	0%
Slope1	4%
Uoptimal	90%
Slope2	72%

The proposal payload uses the GenericListingEngine to perform a new asset listing with the following parameters:

IGenericV3ListingEngine.Listing({
      asset: USDT,
      assetSymbol: 'USDT',
      priceFeed: USDT_USD_FEED,
      rateStrategy: 0xdd1BAC6A713c5b0EC42bA39D0c5e4582975DE6D6,
      enabledToBorrow: true,
      stableRateModeEnabled: false,
      borrowableInIsolation: false,
      withSiloedBorrowing: false,
      flashloanable: true,
      ltv: 0,
      liqThreshold: 0,
      liqBonus: 0,
      reserveFactor: 10_00,
      supplyCap: 200_000_000,
      borrowCap: 185_000_000,
      debtCeiling: 0,
      liqProtocolFee: 10_00,
      eModeCategory: 0
    });

References

A list of relevant links like for this proposal e.g.

• forum discussion
• tests
• proposalCode

Security Considerations

The proposal Payload was reviewed byBored Ghost Developing.

Deployed Contracts

• AaveV3EthUSDTPayload: ProposalPayload

Copyright

Copyright and related rights waived via CC0.