[ARFC Addendum] Update Asset Onboarding Framework

[ARFC Addendum] Update Asset Onboarding Framework

Author: ACI (Aave Chan Initiative)

Date: 2024-06-06



Summary

The current ARFC Addendum proposes an update to the Asset Onboarding Framework. Since the Asset Onboarding Framework was published in the Forum in November 2023, there have been several requests from teams to list their assets, and the corresponding governance process for adding new markets.

This proposal aims to streamline the listing process for Aave DAO by requiring new listing candidates to deposit at least $100 worth of the intended asset into the Aave Short Executor.

Motivation

As part of the deployment process for any new asset, a small amount of the asset is deposited at the moment the market is seeded. This prevents potential market manipulation and issues from arising. In the past, members of Aave DAO have had to purchase all newly listed assets and deposit them into the Aave Short Executor to allow this initial deposit process to occur. In order to simplify the process for members of the Aave DAO and demonstrate commitment from projects getting an Aave onboarding, this proposal requires a deposit of $100 worth of the intended asset.

This amount will be used to seed the markets upon launch.

this deposit is not meant to be an “onboarding fee”

The goal is to make the process more seamless for the implementation of onboarding, as sourcing tokens & feeding the executors’ contracts adds friction in our current onboarding pipeline.

Specification

  1. Deposit requirement:
    1. Each new listing candidate will deposit $100 worth of the intended asset into the Aave Short Executor.
    2. The deposit will serve as both a commitment to the process and a way to initially seed the market.
    3. The deposit will be made:
      1. Once an asset has passed the associated ARFC
      2. It must be deposited before an asset can proceed to the AIP phase
    4. The deposit will be non-refundable. If the proposal does not pass at AIP, the deposit will not be refunded.

Disclaimer

The ACI is not presenting this ARFC on behalf of any third party and is not compensated for creating this ARFC.

Next Steps

  1. If consensus is reached on this [ARFC Addendum], escalate this proposal to the Snapshot stage.
  2. If the ARFC snapshot outcome is YAE, the Addendum will be considered canon, and the guidelines will be adopted into the Asset Onboarding Framework.

Copyright

Copyright and related rights waived via CC0.

3 Likes

The current proposal has been escalated to ARFC Addendum.

Vote will start tomorrow, we encourage everyone to participate.