Title: [TEMP CHECK] Add native USDC to Aave V3 Polygon market
Author: @EzR3aL
Date: 2023-11-24
Summary:
This TEMP CHECK proposes to add native USDC to the Aave V3 Polygon market. USDC is Circle’s USD backed stablecoin.
Motivation:
Circle is an established stablecoin issuer known for USDC. Currently there is only the bridged version of USDC listed, called “USDC.e”. As of november 24rd, 2023 the supply is sitting at $99.3M while the bridged version is sitting at approx. $397M.
On November 10th, Circle announced they will discontinue the support of deposits and withdrawals for bridged USDC.e for their services. This could result in a declining supply over time.
Specification:
Project: https://www.circle.com/en/
Documentation: USDC | Always-on dollars, internet speed | Circle
Polygon PoS USDC | Use USDC on Polygon PoS (circle.com)
Polygon Contract: https://polygonscan.com/token/0x3c499c542cef5e3811e1192ce70d8cc03d5c3359
Chainlink oracle:
https://polygonscan.com/address/0xfe4a8cc5b5b2366c1b58bea3858e81843581b2f7
Risk Parameters
Risk parameters can be defined by @ChaosLabs and @Gauntlet at the ARFC stage after TEMP CHECK reaches consensus.
Disclaimer:
I am not presenting this Temp Check on behalf of any third party and I am not compensated for creating this Temp Check.
This proposal is powered by Skywards.
Next Steps:
- Gather community feedback on this TEMP CHECK.
- If consensus is reached, escalate this proposal to TEMP CHECK snapshot stage.
- If TEMP CHECK snapshot outcome is YAE, escalate to ARFC stage.
- If consensus on ARFC stage is reached and risk service providers provide feedback on risk parameters, escalate to ARFC snapshot stage.
- If ARFC snapshot stage outcome is YAE, escalate to AIP stage using the Skyward program from the ACI (@MarcZeller).
Copyright
Copyright and related rights waived via CC0.