Aave

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[ARFC] Onboard sUSDe to Aave V3 on Ethereum

Author: ACI (Aave Chan Initiative)

Date: 2024-04-01

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Summary

This is an ARFC to seek approval for the addition of sUSDe to Aave V3 on Ethereum, following the consensus reached in the TEMP CHECK stage.

Motivation

As discussed in the TEMP CHECK, Ethena’s synthetic dollar, USDe, provides a stable crypto-native solution for a cash and carry structured product. The staked version of USDe, sUSDe, earns yield from the protocol and has high potential for strong borrow demand.

Specification

sUSDe: 0x9d39a5de30e57443bff2a8307a4256c8797a3497

Risk Parameters

Risk parameters have been provided by Chaos Labs in the ARFC discussion thread.

Initial Risk Parameters are the following:

Parameter	Value
Isolation Mode	Yes
Borrowable	No
Collateral Enabled	Yes
Supply Cap (sUSDe)	85M
Debt Ceiling	40M
LTV	72.00%
LT	75.00%
Liquidation Bonus	8.50%
Liquidation Protocol Fee	10.00%
Flashloanable	No
Siloed Borrowing	No
Borrowed in Isolation	No
Emode	No

Useful Links

TEMP CHECK TEMP CHECK Snapshot

Disclaimer

This proposal is powered by Skywards. The Aave Chan Initiative is not directly affiliated with Ethena and did not receive compensation for creation this proposal.

Next Steps

1. Collect community & service providers feedback on this ARFC.
2. Escalate the proposal to ARFC snapshot stage if feedback is positive.
3. If the ARFC snapshot outcome is YAE, publish an AIP vote for final confirmation and enforcement of the proposal.

Copyright

Copyright and related rights waived under CC0