Title: [ARFC] Add rlUSD to Core Instance

Author: Tokenlogic & ACI (Aave Chan Initiative)

Date: 2024-12-16

ARFC has been updated with latest Risk Parameters 2024-12-23

---

Summary

This publication proposes onboardin Ripple’s rlUSD stablecoin to the Core instance of Aave v3 on Ethereum.

Motivation

rlUSD has received NYDFS approval and is anticipated to launch in the near future. Whilst the date is unknown and subject to speculation, this proposals prepares the Aave Protocol to support the listing.

With rlUSD now transferrable and circulating supply at 52.9M (15th December 2024), this ARFC proposes onboarding rlUSD with conservative risk parameters pending a Chainlink Oracle.

Specification

Ticker: rlUSD

Contract address on mainnet: 0x8292Bb45bf1Ee4d140127049757C2E0fF06317eD

Chainlink oracle: soon

Project: https://ripple.com/

GitHub: https://github.com/fbtc-xyz/fbtc-contract

Docs: https://docs.ripple.com/stablecoin/developer-resources/rlusd-on-ethereum

Twitter: https://x.com/Ripple

Initial Risk Parameters are shared, being aware that those can be subject to changes per Risk Service Providers feedback, and ARFC would be updated accordingly.

Parameter	Value (Ethereum)
Isolation Mode	No
Borrowable	Yes
Collateral Enabled	No
Supply Cap	-
Borrow Cap	-
Debt Ceiling	-
LTV	-
LT	-
Liquidation Bonus	-
Liquidation Protocol Fee	-
Variable Base	0%
Variable Slope1	12.5%
Variable Slope2	50%
Uoptimal	80%
Reserve Factor	10%
Stable Borrowing	Disabled
Flashloanable	Yes
Siloed Borrowing	No
Borrowable in Isolation	No
E-Mode Category	N/A

Parameter	Value	Value	Value	Value	Value
Asset sUSDe	sUSDe	USDT	USDS	USDC	rlUSD
Collateral	Yes	No	No	No	No
Borrowable	No	Yes	Yes	Yes	Yes
Max LTV	90%	-	-	-	-
Liquidation Threshold	92%	-	-	-	-
Liquidation Bonus	3.0%	-	-	-	-

Disclosure

Neither TokenLogic or ACI have received payment for the publication of this proposal.

Next Steps

1. Gather feedback from the community.
2. If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
3. If Snapshot outcome is YAE, an AIP will implement proposal.

Copyright

Copyright and related rights waived via CC0.