[TEMP CHECK] Add sFRAX to Ethereum V3

Governance New Asset
1

title: [TEMP CHECK] Add sFRAX to Ethereum V3
author: @0xlide - @SaucyBlock
created: 2023-12-14

Summary

This publication presents the community an opportunity to add sFRAX to the Ethereum Aave V3 Liquidity Pool.

Motivation

Staked FRAX (sFRAX) is an ERC-4626 staking vault that distributes a portion of the Frax Protocol yield. sFRAX APY attempts to roughly track the interest on reserve balances (IORB) rate of the United States Federal Reserve.

Integrating sFRAX as collateral asset in the Aave V3 Ethereum Pool has the potential to create new demand for borrowable assets on Aave V3, such as stablecoins and FXS.

Specifiction

Ticker: sFRAX
Contract Adress: 0xA663B02CF0a4b149d2aD41910CB81e23e1c41c32
Chainlink Oracle: 0xB9E1E3A9feFf48998E45Fa90847ed4D467E8BcfD

Proposed risk parameters will be shared at the potential ARFC stage of this proposal.

Next Steps

  1. Gather community feedback on this TEMP CHECK.
  2. If consensus is reached, escalate this proposal to TEMP CHECK snapshot stage.
  3. If TEMP CHECK snapshot outcome is YAE, escalate to ARFC stage.
  4. If consensus on ARFC stage is reached and risk service providers provide feedback on risk parameters, escalate to ARFC snapshot stage.
  5. If ARFC snapshot stage outcome is YAE, escalate to AIP stage

Disclaimer

0xlide is not presenting this ARFC on behalf of any third party and is not compensated by any entity for creating this ARFC.

Copyright

Copyright and related rights waived via CC0.

5 Likes
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Full support for this proposal.

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This proposal has been escalated to the snapshot stage

Vote starts tomorrow.

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The TEMP CHECK Snapshot has passed, reaching quorum with 320K YAE votes.

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Following snapshot proposal, TEMP CHECK Snapshot has passed, reaching quorum of 320K YAE votes and YAE as winning option for 411K votes.

Next step will be posting an ARFC where if consensus is gathered and risk service providers provide feedback on risk parameters, proposal will be escalated to ARFC Snapshot stage.

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Since this proposal has moved to the ARFC stage this thread will be closed.

2 Likes