Summary
This proposal seeks to onboard USAT to the Aave V3 Core Instance and the Aave V4 Core Hub on Ethereum. Final asset configuration will be determined by the Risk Service Providers.
Motivation
USAT (Tether America USD) is a dollar stablecoin issued by Anchorage Digital Bank, N.A., a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency (OCC). USAT is subject to the GENIUS Act and is redeemable 1:1 for U.S. dollars.
Onboarding USAT would be aligned with the DAO’s long-term objectives in several ways:
- It introduces a stablecoin issued by a bank under federal supervision in the United States, broadening the range of regulated dollar assets available on Aave.
- It supports demand from institutional participants seeking a stablecoin issued under the federal stablecoin framework of the United States.
- Listing on both versions makes USAT available to Aave V3 users on Ethereum while allowing the DAO and its Service Providers to apply a configuration specific to the Aave V4 Core Hub.
Specification
This proposal adds USAT to the Aave V3 Core Instance and the Aave V4 Core Hub on Ethereum.
Token Address: 0x07041776f5007ACa2A54844F50503a18A72A8b68
Risk Parameters and final configuration will be updated by Risk Service Providers and ARFC will be updated accordingly.
Useful Links
Disclaimer
This proposal was prepared by Aave Labs in its capacity as a contributor to the Aave ecosystem. Aave Labs has no financial relationship with Anchorage Digital Bank, N.A., Tether, or their affiliates and has not received compensation from either party in connection with this proposal.
Next Steps
- Gather community feedback during the ARFC stage.
- If the ARFC response is positive, escalate to Snapshot for offchain confirmation.
- Submit an AIP to Aave Governance to onboard USAT to the Aave V3 Core Instance and the Aave V4 Core Hub on Ethereum.
Copyright
Copyright and related rights waived via CC0.