Aave

Simple Summary

This AIP proposal presents Aave with the opportunity to onboard wstETH to the optimism v3 Liquidity Pool.

Motivation

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

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

The risk parameters provided introduce wstETH as a collateral asset.

Supply and borrow caps are suggested for this asset to limit risk exposure, the caps have been proposed by a join collaboration between Gauntlet & Chaos Labs.

Specification

Ticker: wstETH

Contract Address: 0x1F32b1c2345538c0c6f582fCB022739c4A194Ebb

Risk Parameter	Value
Isolation Mode	NO
Enable Borrow	YES
Enable Collateral	YES
Loan To Value	70%
Liquidation Threshold	79%
Liquidation Bonus	7.2%
Reserve Factor	15%
Liquidation Protocol Fee	10%
Borrow Cap	940
Supply Cap	6000
Debt Ceiling	N/A
Base	0.25%
Slope1	4.5%
Uoptimal	45%
Slope2	80%

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

IGenericV3ListingEngine.Listing({
      asset: WSTETH,
      assetSymbol: 'wstETH',
      priceFeed: WSTETH_USD_FEED,
      rateStrategy: https://optimistic.etherscan.io/address/0x6ba97468e2e6a3711a6dd05f0075d48e878c910e,
      enabledToBorrow: true,
      stableRateModeEnabled: false,
      borrowableInIsolation: false,
      withSiloedBorrowing: false,
      flashloanable: false,
      ltv: 70_00,
      liqThreshold: 79_00,
      liqBonus: 7_20,
      reserveFactor: 15_00,
      supplyCap: 6_000,
      borrowCap: 940,
      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 by Bored Ghost Developing.

Deployed Contracts

• AaveV3OPWSTETHPayload: ProposalPayload

Copyright

Copyright and related rights waived via CC0.