Aave

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Title: [TEMP CHECK] Add gmBTC on Arbitrum V3 Author: @0xlide - @SaucyBlcok Date: 2024-01-26

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Summary

This publication presents the community an opportunity to add gmBTC to the Arbitrum Aave v3 Liquidity Pool.

Motivation

GMX Protocol is the largest DEX offering derivatives and one of the most popular DeFi’s today. The introduction of several new features and integration with Chainlink Data Stream in GMX V2 has significantly reduced the risks of front-running and price manipulation compared to GMX V1. gmBTC is a BTC-USD’s Liquidity Token on the GMX V2 and earn fees from leverage trading, borrowing fees and swaps.

Integrating gmBTC as collateral asset in the Aave V3 Arbitrum Pool has the potential to create new demand for borrowable assets on Aave V3, such as WBTC and Stablecoin.

Specifiction

Ticker: gmBTC Contract Adress: 0x47c031236e19d024b42f8AE6780E44A573170703 Chainlink Oracle: 0x395D5c5D552Df670dc4B2B1cef0c4EABfFba492f

Proposed risk parameters will be shared at the potential ARFC stage of this proposal.

Reference

Project: https://app.gmx.io/#/trade GitHub: https://github.com/gmx-io Docs: https://docs.gmx.io/docs/intro Audit: https://github.com/gmx-io/gmx-synthetics/tree/main/audits Twitter: https://twitter.com/GMX_IO?s=20 Discord: https://discord.com/invite/H5PeQru3Aa

Next Steps

1. Gather community feedback on this TEMP CHECK.
2. If consensus is reached, escalate this proposal to TEMP CHECK snapshot stage.
3. If TEMP CHECK snapshot outcome is YAE, escalate to ARFC stage.
4. If consensus on ARFC stage is reached and risk service providers provide feedback on risk parameters, escalate to ARFC snapshot stage.
5. If ARFC snapshot stage outcome is YAE, escalate to AIP stage

Disclaimer

0xlide is not presenting this TEMP CHECK on behalf of any third party and is not compensated by any entity for creating this TEMP CHECK.

Copyright

Copyright and related rights waived via CC0.