[TEMP CHECK] Onboard USDtb to Aave v3 Core Instance

Governance New Asset
1

[TEMP CHECK] Onboard USDtb to Aave v3 Core Instance

Author: ACI

Date: 2025-03-25

Summary

The current proposal is set to onboard USDtb to the v3 Core Instance with borrow enabled, collateral disabled.

Motivation

USDtb is a digital dollar, otherwise known as a USD stablecoin. USDtb can be used the same way a holder would use any other dollar, whether to send and receive payments, acquire and trade assets, or to simply hold dollars.

Unlike actual dollars, USDtb is a blockchain-based token, which enables faster and cheaper spending than the traditional fiat banking system. Unlike many digital assets, USDtb is fully backed by institutional-grade tokenized U.S. treasury fund products (alongside a stablecoin reserve designed to facilitate rapid redemptions) to support stability. Initially, USDtb will be backed by BlackRock’s USD Institutional Digital Liquidity Fund Token, BUIDL.

By onboarding USDtb, deeper borrow liquidity will be generated to allow sUSDe leverage at an attractive borrow rate. We believe this will help revitalise and accelerate growth in sUSDe activity on the Core Instance.

Backed by BUIDL issued by Blackrock, one of the largest asset managers in the world we believe this asset aligns well with Aave’s history of providing liquidity to the highest quality assets in DeFi and should attract significant deposits.

Specification

  • Onboard to Core Instance
  • Borrow enabled
  • Collateral disabled
  • L1 token contract address: 0xC139190F447e929f090Edeb554D95AbB8b18aC1C

More details will be shared on ARFC.

Proof of Liquidity and Deposit Commitments

  • Ethena will deposit a significant amount of USDtb.

Useful Links:

Disclaimer:

This proposal is powered by Skywards. The Aave Chan Initiative is not directly affiliated with USDtb and did not receive compensation for creation this proposal.

Next Steps

  1. If consensus is reached on this [TEMP CHECK], escalate this proposal to the Snapshot stage.
  2. If the Snapshot outcome is YAE, this proposal will be escalated to ARFC stage
  3. Publication of a standard ARFC, collect community & service providers feedback before escalating proposal to ARFC snapshot stage
  4. 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 under CC0

8 Likes
2

Make sense, there is 1.4B USDtb on Ethena’s side that could be utilized in the Aave Protocol.

4 Likes
3

We’re fully in favour of this deployment and adding as many tokenised RWAs to Aave as possible. USDtb will play an important role in the recently announced Converge chain and it is a good idea for Aave to onboard the asset soon.

4

In support. USDtb TVL is rapidly growing. Tokenized RWA stable-coins are innovative and highly scalable.

5

Great addition to the other stablecoins we have. Want to see risk at ARFC.

6

The current proposal has been escalated to TEMP CHECK Snapshot.

Vote will start tomorrow, we encourage everyone to participate.

7

Aave’s diversity of stablecoins is a very valuable selling point, we support adding USDtb.

1 Like
8

After Snapshot monitoring, the current TEMP CHECK Snapshot ended recently, reaching out both Quorum and YAE as winning option with 684.4K votes.

Therefore [TEMP CHECK] Onboard USDtb to Aave v3 Core Instance HAS PASSED.

Next step will be the publication of an ARFC to continue gathering interest from both community and Service Providers.

Closing thread to focus on ARFC.