[ARFC] Onboard wbETH on Aave V3 BNB Chain
Author: ACI (Aave Chan Initiative)
Date: 2024-04-02
Summary
This ARFC proposes the addition of wbETH the Binance Liquid Staked ETH Token to Aave V3 BNB Chain to enhance LST liquidity and asset diversity.
Motivation
Liquid Staked Tokens are one of the premier collateral types on Aave and drive most of the ETH borrow demand. wBETH is one of the largest Liquid Staking Tokens on the market and one of the more productive assets available on BNB Chain.
The Aave-Chan Initiative supports LST diversity in Aave V3 and looks to add more LST to the new BNB Chain deployment.
Specification
wbETH: 0xa2E3356610840701BDf5611a53974510Ae27E2e1
Risk parameters
These initial risk parameters have been suggested by Chaos Labs.
| Risk Parameters | Value |
|---|---|
| Isolation Mode | No |
| Borrowable | Yes |
| Collateral Enabled | Yes |
| Supply Cap (wbETH) | 3,000 |
| Borrow Cap (wbETH) | 300 |
| Debt Ceiling | NA |
| LTV | 67.00% |
| LT | 74.00% |
| Liquidation Bonus | 7.00% |
| Liquidation Protocol Fee | 10.00% |
| Variable Base | 0.0% |
| Variable Slope1 | 7.00% |
| Variable Slope2 | 300.00% |
| Uoptimal | 45.00% |
| Reserve Factor | 15.00% |
| Stable Borrowing | Disabled |
| Stable Slope1 | 13.00% |
| Stable Slope2 | 300.00% |
| Base Stable Rate Offset | 3.00% |
| Stable Rate Excess Offset | 5.00% |
| Optimal Stable To Total Debt Ratio | 20.00% |
| Flahloanable | No |
| Siloed Borrowing | No |
| Borrowed in Isolation | No |
| maxYearlyRatioGrowthPercent | ratioReferenceTime | MINIMUM_SNAPSHOT_DELAY |
|---|---|---|
| 8.66% | monthly | 14 days |
Useful links:
Website: https://www.binance.com/en/ethereum-staking
Disclaimer
The ACI is not presenting this ARFC on behalf of any third party and is not compensated for creating this ARFC.
Next Steps
- If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
- If the ARFC snapshot outcome is YAE, publish an AIP vote for final confirmation and enforcement of the proposal.
Copyright
Copyright and related rights waived via CC0.