Aave

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Title: [ARFC] Add gmETH on Arbitrum V3 Discussions: [TEMP CHECK] Add gmETH on Arbitrum V3 Author: @0xlide - @SaucyBlock Date: 2024-02-05

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Summary

This publication presents the community an opportunity to add gmETH on 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. gmETH is a ETH-USD’s Liquidity Token on the GMX V2 and earn fees from leverage trading, borrowing fees and swaps.

Integrating gmETH as collateral asset in the Aave V3 Arbitrum Pool has the potential to create new demand for borrowable assets on Aave V3.

Specification

Ticker: gmBTC Contract Adress: 0x70d95587d40A2caf56bd97485aB3Eec10Bee6336 Chainlink Oracle: 0xfb3264d1129824933a52374c2c1696f4470d041e

The parameters shown below are supported by @ChaosLabs

Parameter	Recommendation
Isolation Mode	NO
E-Mode	NO
Enable Borrow	Disabled
Stable Borrow	Disabled
Borrowable in Isolation	Disabled
Siloed Borrowing	Disabled
Frash Loan	Disabled
LTV	60.00%
Liquidation Threshold	65.00%
Liquidation Bonus	12.00%
Reserve Factor	N/A
Supply Cap(gmBTC)	$3,500,000
Borrow Cap(gmBTC)	N/A
Debt Ceiling	N/A
Liquidation Protocol Fee	10.00%
Uoptimal	N/A
Base	0
Variable Slope1	N/A
Variable Slope2	N/A
Stable Slope1	N/A
Stable Slope2	N/A
Base Stable Rate Offset	N/A
Stable Rate Excess Offset	N/A
Optimal Stable To Total Debt Ratio	N/A

Reference

Project: https://gmx.io/#/ 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 Step

• If consensus on ARFC stage is reached and risk service providers provide feedback on risk parameters, escalate to ARFC snapshot stage.
• . f ARFC snapshot stage outcome is YAE, escalate to AIP stage

Disclaimer

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

Copyright

Copyright and related rights waived via CC0.