[TEMP CHECK] Add USR to Aave v3 Core Instance
title: [TEMP CHECK] Add USR to Aave v3 Core Instance
author: @ACI & @TokenLogic
created: 2025-03-03
Summary
The proposal aims to onboard Resolv’s USR, to Aave v3 protocol Core Market on Ethereum.
Motivation
Introduction
Resolv is a decentralized protocol designed to maintain and manage USR a over-collateralised USD stablecoin backed by a delta-neutral ETH denominated strategy, alongside the Resolv Liquidity Pool (RLP), which acts as a liquid insurance reserve ensuring USR remains overcollateralized.
Resolv has been one of the latest growing stablecoins from last few months with TVL surging from 37M in December to now over 675M at the moment and with a USR circulating supply of 570M.
Resolv is currently running an ongoing points campaign, with Season 1 set to conclude between the end of Q1 and Season 2 set to begin during Q2. As part of this campaign, wstUSR holders earn 5 points per wstUSR held daily.
Mint / Redeem
USR is minted using USDT or USDC at a 1:1 ratio, with minting fees currently set to zero but subject to future adjustments. Users can stake USR to receive wstUSR, which is the wrapped version of stUSR, to earn rebasing staking rewards. USR can also be redeemed back into USDC or USDT, with redemptions currently processed without fees.
The redemption process, though infrequent, averages approximately 1 hour and 50 minutes per transaction, with a maximum stated duration of 24 hours. At present, minting and burning functionalities are limited to whitelisted addresses.
USD and RLP Relationship
Of the revenue generated, 30% is allocated to RLP holders who absorb any losses whilst insuring USR remains over-collateralised. RLP is valued at 99.3M USD, which compares to $558.7M in USR at the time of writing.
Further details are visibile on this Dune Dashboard.
Specification
Ticker: USR
Contract address on mainnet: 0x66a1E37c9b0eAddca17d3662D6c05F4DECf3e110
Chainlink oracle: upcoming
Project: https://resolv.xyz/
Collateral pool addresses: Resolv App
GitHub: resolv-im · GitHub
Docs: What is Resolv? | Resolv Docs
Audit: Security | Resolv Docs
Twitter: https://x.com/resolvlabs
Risk Parameters will be provided by Risk Services Providers at the earliest possible and ARFC will be updated with that feedback.
Disclosure
The ACI and TokenLogic are not directly affiliated with Resolv and did not receive compensation for creation this proposal.
Next Steps
- If consensus is reached on this [TEMP CHECK], escalate this proposal to the Snapshot stage.
- If the Snapshot outcome is YAE, this proposal will be escalated to ARFC stage. Publish a standard ARFC, collect community & service providers feedback before escalating proposal to ARFC 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.