[ARFC] sDAI Aave V3 Onboarding
Vote Result: NO
Rationale
While sDAI on Ethereum v3 allows users to earn DSR yield while utilising their assets as collateral, it may have a negative impact on GHO’s peg, which is not good at all. Increasing DAI RF from 10% to 20% on v3 may lower DAI supply rate below the current DSR, which may incentivize DAI supply withdrawal. This will decrease available liquidity when liquidations occur. The need to change Slope1 for wETH is also not clear.
In this case, we ARE supportive of onboarding sDAI to Aave v3 Ethereum, but with modified parameters incorporating Gauntlet and @monet-supply’s feedback. Therefore, we will vote NO against this proposal.