Simple Summary

This proposal will onboard UNI, MKR, SNX & BAL to the Ethereum v3 Liquidity Pool.

Abstract

This proposal bundles four asset listing for Ethereum v3 into a single governance submission. Each asset is to be added in isolation mode, as collateral, with borrowing enabled.

Each Asset is currently listed on Aave v2. Gauntlet and Chaos Labs have provided the risk parameters for each v3 asset listing. Each asset received a favouable Snapshot vote indicating broad community support for listing the asset on the v3 Ethereum deployment.

Upon listing UNI, MKR, SNX & BAL users will be able to begin migrating there positions from Aave v2 to v3 on Ethereum.

Motivation

Enabling users to migrate from Ethereum v2 to v3 requires each asset to first be added to v3. Llama presented individual ARFC for each of the mentioned assets and based upon the Snapshot results, the community supports adding UNI, MKR, SNX and BAL to the Ethereum v3 deployment.

The links below detail the individual governance forum posts and respective Snapshot proposals.

• UNI

  • UNI Governance Forum Discussion
  • UNI Snapshot Vote

• MKR

  • MKR Governance Forum Discussion
  • MKR Snapshot Vote

• SNX

  • SNX Governance Forum Discussion
  • SNX Snapshot Vote

• BAL

  • BAL Governance Forum Discussion
  • BAL Snapshot Vote

Specification

Ticker: UNI Contract Address: 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984

Oracle: 0x553303d460EE0afB37EdFf9bE42922D8FF63220e

Risk Parameter	Value
Isolation Mode	YES
Enable Borrow	YES
Enable Collateral	YES
Loan To Value	65.00%
Liquidation Threshold	77.00%
Liquidation Bonus	10.00%
Reserve Factor	20.00%
Liquidation Protocol Fee	10.00%
Borrow Cap	500,000 units
Supply Cap	2,000,000 units
Debt Ceiling	$17,000,000
Variable Base	0.00%
Variable Slope1	7.00%
Variable Slope2	300.00%
Uoptimal	45.00%
Stable Borrowing	Disabled
Stable Slope1	13.00%
Stable Slope2	300.00%
Base Stable Rate Offset	3.00%
Stable Rate Excess Offset	5.00%
Optimal Stable To Total Debt Ratio	20.00%

Ticker: MKR Contract Address: 0x9f8F72aA9304c8B593d555F12eF6589cC3A579A2

Oracle: 0xec1D1B3b0443256cc3860e24a46F108e699484Aa

Risk Parameter	Value
Isolation Mode	YES
Enable Borrow	YES
Enable Collateral	YES
Loan To Value	65.00%
Liquidation Threshold	70.00%
Liquidation Bonus	8.50%
Reserve Factor	20.00%
Liquidation Protocol Fee	10.00%
Borrow Cap	1,500 units
Supply Cap	6,000 units
Debt Ceiling	$2,500,000
Variable Base	0.00%
Variable Slope1	7.00%
Variable Slope2	300.00%
Uoptimal	45.00%
Stable Borrowing	Disabled
Stable Slope1	13.00%
Stable Slope2	300.00%
Base Stable Rate Offset	3.00%
Stable Rate Excess Offset	5.00%
Optimal Stable To Total Debt Ratio	20.00%

Ticker: SNX Contract Address: 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f

Oracle: 0xDC3EA94CD0AC27d9A86C180091e7f78C683d3699

Risk Parameter	Value
Isolation Mode	YES
Enable Borrow	YES
Enable Collateral	YES
Loan To Value	49.00%
Liquidation Threshold	65.00%
Liquidation Bonus	8.50%
Reserve Factor	35.00%
Liquidation Protocol Fee	10.00%
Borrow Cap	1,100,000 units
Supply Cap	2,000,000 units
Debt Ceiling	$2,500,000
Variable Base	3.00%
Variable Slope1	15.00%
Variable Slope2	100.00%
Uoptimal	80.00%
Stable Borrowing	Disabled
Stable Slope1	15.00%
Stable Slope2	100.00%
Base Stable Rate Offset	3.00%
Stable Rate Excess Offset	5.00%
Optimal Stable To Total Debt Ratio	20.00%

Ticker: BAL Contract Address: 0xba100000625a3754423978a60c9317c58a424e3D

Oracle: 0xdF2917806E30300537aEB49A7663062F4d1F2b5F

Risk Parameter	Value
Isolation Mode	YES
Enable Borrow	YES
Enable Collateral	YES
Loan To Value	57%
Liquidation Threshold	62.00%
Liquidation Bonus	8.30%
Reserve Factor	20.00%
Liquidation Protocol Fee	10.00%
Borrow Cap	185,000 units
Supply Cap	700,000 units
Debt Ceiling	$2,900,000
Variable Base	3.00%
Variable Slope1	14.00%
Variable Slope2	150.00%
Uoptimal	80.00%
Stable Borrowing	Disabled
Stable Slope1	20.00%
Stable Slope2	150.00%
Base Stable Rate Offset	3.00%
Stable Rate Excess Offset	5.00%
Optimal Stable To Total Debt Ratio	20.00%

Implementation

A list of relevant links like for this proposal:

• Test Cases
• Payload Implementation
• Deployed Contracts

The risk paramters detailed within this proposal have been jointly provided by Chaos Labs and Gauntlet.

The proposal Payload was reviewed by Bored Ghost Developing.

Copyright

Copyright and related rights waived via CC0.