[ARFC] Disable Stable Rate Borrowing for Aave V2 Ethereum Pool

Title: [ARFC] Disable Stable Rate Borrowing for Aave V2 Ethereum Pool
Author Marc Zeller (@MarcZeller) - Aave Chan Initiative
Date 2023-09-01


Proposal to disable stable rate borrowing for the Aave V2 Ethereum pool to streamline the offboarding process from the legacy version of Aave.


As Aave is gradually phasing out the legacy version, stable rates introduce friction to the offboarding process. Borrowers with stable rates are less influenced by interest rate strategy adjustments designed to encourage migration. To minimize these frictions in the future, the ACI proposes to prevent any new stable rate borrowing for the Aave V2 protocol.


The following assets currently support stable borrowing in the Aave V2 Ethereum pool:

Asset Protocol Version Total Liquidity
USDT v2 319.43m
WBTC v2 20.43k
WETH v2 409.12k
ZRX v2 48.10m
BAT v2 895.19k
ENJ v2 3.53m
KNC v2 50.65k
LINK v2 10.09m
MANA v2 2.32m
MKR v2 5.01k
REN v2 3.66m
USDC v2 399.36m
LUSD v2 562.56k

The proposed change is to disable the stable rate borrowing feature for all assets in the Aave V2 Ethereum pool. Existing stable rate borrows will remain unaffected, but no new stable rate borrows will be allowed.


The ACI is presenting this ARFC independently and is not compensated for creating this ARFC. There are no conflicts of interest.

Next Steps

  1. Collect consensus from the community and risk teams.
  2. Escalate to the ARFC snapshot stage.
  3. If the snapshot outcome is YAE, escalate to the AIP stage.


Copyright and related rights waived via CC0.


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