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[ARFC] Aave V3 Deployment on Celo

Vote Result: YES

Rationale

We will vote YES in favour of this proposal for the following reasons:

  • Celo is a chain which has a differentiated user base to that of Aave with a lot of DAU which can be brought to Aave.
  • They have access to a lot of users who hold stablecoins in the Opera MiniPay wallet and have a need for yield which they will aim to natively integrate with Aave, potentially bringing a lot of usage.
  • They have earmarked funds for incentives for activity, higher than any other protocol that Aave is looking to deploy on has in the past.
  • Their focus on RWAs is great and it aligns well with what is outlined in Aave v4 and Aave 2030.
  • They are much more ‘value-aligned’ now as an L2 rather than another L1.
  • There is a lack of competition especially for USDC and USDT on Celo which will immediately position Aave as the leader on Celo.
  • Chaos Labs has provided appropriate risk parameters for the proposed assets.
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