bgd-labs · rustboyar · May 31, 2024 · May 28, 2024 · May 30, 2024 · May 30, 2024
diff --git a/.assets/a2ff7054b21a6d938826bbea32b5e589c6a0c8f7.svg b/.assets/a2ff7054b21a6d938826bbea32b5e589c6a0c8f7.svg
diff --git a/.assets/c73865a243e2110291617da971e6614d404cd2c5.svg b/.assets/c73865a243e2110291617da971e6614d404cd2c5.svg
diff --git a/...reum_20240528_before_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528_after.md b/...reum_20240528_before_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528_after.md
@@ -0,0 +1,134 @@
+## Reserve changes
+
+### Reserves added
+
+#### USDe ([0x4c9EDD5852cd905f086C759E8383e09bff1E68B3](https://etherscan.io/address/0x4c9EDD5852cd905f086C759E8383e09bff1E68B3))
+
+| description | value |
+| --- | --- |
+| decimals | 18 |
+| isActive | true |
+| isFrozen | false |
+| supplyCap | 80,000,000 USDe |
+| borrowCap | 72,000,000 USDe |
+| debtCeiling | 40,000,000 $ |
+| isSiloed | false |
+| isFlashloanable | true |
+| eModeCategory | 0 |
+| oracle | [0x55B6C4D3E8A27b8A1F5a263321b602e0fdEEcC17](https://etherscan.io/address/0x55B6C4D3E8A27b8A1F5a263321b602e0fdEEcC17) |
+| oracleDecimals | 8 |
+| oracleDescription | Capped USDe / USD |
+| oracleLatestAnswer | 1.00079999 |
+| usageAsCollateralEnabled | true |
+| ltv | 72 % |
+| liquidationThreshold | 75 % |
+| liquidationBonus | 8.5 % |
+| liquidationProtocolFee | 10 % |
+| reserveFactor | 25 % |
+| aToken | [0x4F5923Fc5FD4a93352581b38B7cD26943012DECF](https://etherscan.io/address/0x4F5923Fc5FD4a93352581b38B7cD26943012DECF) |
+| aTokenImpl | [0x7EfFD7b47Bfd17e52fB7559d3f924201b9DbfF3d](https://etherscan.io/address/0x7EfFD7b47Bfd17e52fB7559d3f924201b9DbfF3d) |
+| variableDebtToken | [0x015396E1F286289aE23a762088E863b3ec465145](https://etherscan.io/address/0x015396E1F286289aE23a762088E863b3ec465145) |
+| variableDebtTokenImpl | [0xaC725CB59D16C81061BDeA61041a8A5e73DA9EC6](https://etherscan.io/address/0xaC725CB59D16C81061BDeA61041a8A5e73DA9EC6) |
+| stableDebtToken | [0x43Cc8AD0c223b38D9c04802bB184A2D97e497D38](https://etherscan.io/address/0x43Cc8AD0c223b38D9c04802bB184A2D97e497D38) |
+| stableDebtTokenImpl | [0x15C5620dfFaC7c7366EED66C20Ad222DDbB1eD57](https://etherscan.io/address/0x15C5620dfFaC7c7366EED66C20Ad222DDbB1eD57) |
+| borrowingEnabled | true |
+| stableBorrowRateEnabled | false |
+| isBorrowableInIsolation | true |
+| interestRateStrategy | [0x4011fcd421b9E90f131B164EC1d162DBE269621C](https://etherscan.io/address/0x4011fcd421b9E90f131B164EC1d162DBE269621C) |
+| liquidityIndex | 1 |
+| variableBorrowIndex | 1 |
+| aTokenName | Aave Ethereum USDe |
+| aTokenSymbol | aEthUSDe |
+| currentLiquidityRate | 0 % |
+| currentVariableBorrowRate | 0 % |
+| isPaused | false |
+| stableDebtTokenName | Aave Ethereum Stable Debt USDe |
+| stableDebtTokenSymbol | stableDebtEthUSDe |
+| variableDebtTokenName | Aave Ethereum Variable Debt USDe |
+| variableDebtTokenSymbol | variableDebtEthUSDe |
+| optimalUsageRatio | 80 % |
+| maxExcessStableToTotalDebtRatio | 100 % |
+| maxExcessUsageRatio | 20 % |
+| optimalStableToTotalDebtRatio | 0 % |
+| baseVariableBorrowRate | 0 % |
+| variableRateSlope1 | 9 % |
+| variableRateSlope2 | 75 % |
+| baseStableBorrowRate | 9 % |
+| stableRateSlope1 | 9 % |
+| stableRateSlope2 | 75 % |
+| interestRate | ![ir](/.assets/a2ff7054b21a6d938826bbea32b5e589c6a0c8f7.svg) |
+
+
+## Raw diff
+
+```json
+{
+  "reserves": {
+    "0x4c9EDD5852cd905f086C759E8383e09bff1E68B3": {
+      "from": null,
+      "to": {
+        "aToken": "0x4F5923Fc5FD4a93352581b38B7cD26943012DECF",
+        "aTokenImpl": "0x7EfFD7b47Bfd17e52fB7559d3f924201b9DbfF3d",
+        "aTokenName": "Aave Ethereum USDe",
+        "aTokenSymbol": "aEthUSDe",
+        "borrowCap": 72000000,
+        "borrowingEnabled": true,
+        "currentLiquidityRate": 0,
+        "currentVariableBorrowRate": 0,
+        "debtCeiling": 4000000000,
+        "decimals": 18,
+        "eModeCategory": 0,
+        "interestRateStrategy": "0x4011fcd421b9E90f131B164EC1d162DBE269621C",
+        "isActive": true,
+        "isBorrowableInIsolation": true,
+        "isFlashloanable": true,
+        "isFrozen": false,
+        "isPaused": false,
+        "isSiloed": false,
+        "liquidationBonus": 10850,
+        "liquidationProtocolFee": 1000,
+        "liquidationThreshold": 7500,
+        "liquidityIndex": "1000000000000000000000000000",
+        "ltv": 7200,
+        "oracle": "0x55B6C4D3E8A27b8A1F5a263321b602e0fdEEcC17",
+        "oracleDecimals": 8,
+        "oracleDescription": "Capped USDe / USD",
+        "oracleLatestAnswer": 100079999,
+        "reserveFactor": 2500,
+        "stableBorrowRateEnabled": false,
+        "stableDebtToken": "0x43Cc8AD0c223b38D9c04802bB184A2D97e497D38",
+        "stableDebtTokenImpl": "0x15C5620dfFaC7c7366EED66C20Ad222DDbB1eD57",
+        "stableDebtTokenName": "Aave Ethereum Stable Debt USDe",
+        "stableDebtTokenSymbol": "stableDebtEthUSDe",
+        "supplyCap": 80000000,
+        "symbol": "USDe",
+        "underlying": "0x4c9EDD5852cd905f086C759E8383e09bff1E68B3",
+        "usageAsCollateralEnabled": true,
+        "variableBorrowIndex": "1000000000000000000000000000",
+        "variableDebtToken": "0x015396E1F286289aE23a762088E863b3ec465145",
+        "variableDebtTokenImpl": "0xaC725CB59D16C81061BDeA61041a8A5e73DA9EC6",
+        "variableDebtTokenName": "Aave Ethereum Variable Debt USDe",
+        "variableDebtTokenSymbol": "variableDebtEthUSDe"
+      }
+    }
+  },
+  "strategies": {
+    "0x4c9EDD5852cd905f086C759E8383e09bff1E68B3": {
+      "from": null,
+      "to": {
+        "address": "0x4011fcd421b9E90f131B164EC1d162DBE269621C",
+        "baseStableBorrowRate": "90000000000000000000000000",
+        "baseVariableBorrowRate": 0,
+        "maxExcessStableToTotalDebtRatio": "1000000000000000000000000000",
+        "maxExcessUsageRatio": "200000000000000000000000000",
+        "optimalStableToTotalDebtRatio": 0,
+        "optimalUsageRatio": "800000000000000000000000000",
+        "stableRateSlope1": "90000000000000000000000000",
+        "stableRateSlope2": "750000000000000000000000000",
+        "variableRateSlope1": "90000000000000000000000000",
+        "variableRateSlope2": "750000000000000000000000000"
+      }
+    }
+  }
+}
+```
diff --git a/...3Ethereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.sol b/...3Ethereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.sol
@@ -0,0 +1,64 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {AaveV3Ethereum, AaveV3EthereumEModes} from 'aave-address-book/AaveV3Ethereum.sol';
+import {AaveV3PayloadEthereum} from 'aave-helpers/v3-config-engine/AaveV3PayloadEthereum.sol';
+import {EngineFlags} from 'aave-helpers/v3-config-engine/EngineFlags.sol';
+import {IAaveV3ConfigEngine} from 'aave-helpers/v3-config-engine/IAaveV3ConfigEngine.sol';
+import {IV3RateStrategyFactory} from 'aave-helpers/v3-config-engine/IV3RateStrategyFactory.sol';
+import {IERC20} from 'solidity-utils/contracts/oz-common/interfaces/IERC20.sol';
+import {SafeERC20} from 'solidity-utils/contracts/oz-common/SafeERC20.sol';
+/**
+ * @title Onboard USDe Aave V3 Ethereum
+ * @author ACI
+ * - Snapshot: https://snapshot.org/#/aave.eth/proposal/0xc1b6d0d390a2dabf81206f592f740c69163dd028dcb0f50182d0ad3a50e744b0
+ * - Discussion: https://governance.aave.com/t/arfc-onboard-usde-to-aave-v3-on-ethereum/17690
+ */
+contract AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528 is AaveV3PayloadEthereum {
+  using SafeERC20 for IERC20;
+
+  address public constant USDe = 0x4c9EDD5852cd905f086C759E8383e09bff1E68B3;
+  uint256 public constant USDe_SEED_AMOUNT = 1e18;
+
+  function _postExecute() internal override {
+    IERC20(USDe).forceApprove(address(AaveV3Ethereum.POOL), USDe_SEED_AMOUNT);
+    AaveV3Ethereum.POOL.supply(USDe, USDe_SEED_AMOUNT, address(AaveV3Ethereum.COLLECTOR), 0);
+  }
+
+  function newListings() public pure override returns (IAaveV3ConfigEngine.Listing[] memory) {
+    IAaveV3ConfigEngine.Listing[] memory listings = new IAaveV3ConfigEngine.Listing[](1);
+
+    listings[0] = IAaveV3ConfigEngine.Listing({
+      asset: USDe,
+      assetSymbol: 'USDe',
+      priceFeed: 0x55B6C4D3E8A27b8A1F5a263321b602e0fdEEcC17,
+      eModeCategory: AaveV3EthereumEModes.NONE,
+      enabledToBorrow: EngineFlags.ENABLED,
+      stableRateModeEnabled: EngineFlags.DISABLED,
+      borrowableInIsolation: EngineFlags.ENABLED,
+      withSiloedBorrowing: EngineFlags.DISABLED,
+      flashloanable: EngineFlags.ENABLED,
+      ltv: 72_00,
+      liqThreshold: 75_00,
+      liqBonus: 8_50,
+      reserveFactor: 25_00,
+      supplyCap: 80_000_000,
+      borrowCap: 72_000_000,
+      debtCeiling: 40_000_000,
+      liqProtocolFee: 10_00,
+      rateStrategyParams: IV3RateStrategyFactory.RateStrategyParams({
+        optimalUsageRatio: _bpsToRay(80_00),
+        baseVariableBorrowRate: _bpsToRay(0),
+        variableRateSlope1: _bpsToRay(9_00),
+        variableRateSlope2: _bpsToRay(75_00),
+        stableRateSlope1: _bpsToRay(9_00),
+        stableRateSlope2: _bpsToRay(75_00),
+        baseStableRateOffset: _bpsToRay(0),
+        stableRateExcessOffset: _bpsToRay(0),
+        optimalStableToTotalDebtRatio: _bpsToRay(0)
+      })
+    });
+
+    return listings;
+  }
+}
diff --git a/...thereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.t.sol b/...thereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.t.sol
@@ -0,0 +1,42 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers} from 'aave-helpers/GovV3Helpers.sol';
+import {AaveV3Ethereum} from 'aave-address-book/AaveV3Ethereum.sol';
+import {IERC20} from 'solidity-utils/contracts/oz-common/interfaces/IERC20.sol';
+
+import 'forge-std/Test.sol';
+import {ProtocolV3TestBase, ReserveConfig} from 'aave-helpers/ProtocolV3TestBase.sol';
+import {AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528} from './AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.sol';
+
+/**
+ * @dev Test for AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528
+ * command: FOUNDRY_PROFILE=mainnet forge test --match-path=src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.t.sol -vv
+ */
+contract AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528_Test is ProtocolV3TestBase {
+  AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528 internal proposal;
+
+  function setUp() public {
+    vm.createSelectFork(vm.rpcUrl('mainnet'), 19982323);
+    proposal = new AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528();
+  }
+
+  /**
+   * @dev executes the generic test suite including e2e and config snapshots
+   */
+  function test_defaultProposalExecution() public {
+    defaultTest(
+      'AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528',
+      AaveV3Ethereum.POOL,
+      address(proposal)
+    );
+  }
+
+  function test_collectorHasUSDeFunds() public {
+    GovV3Helpers.executePayload(vm, address(proposal));
+    (address aTokenAddress, , ) = AaveV3Ethereum
+      .AAVE_PROTOCOL_DATA_PROVIDER
+      .getReserveTokensAddresses(proposal.USDe());
+    assertGe(IERC20(aTokenAddress).balanceOf(address(AaveV3Ethereum.COLLECTOR)), 10 ** 18);
+  }
+}
diff --git a/src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum.md b/src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum.md
@@ -0,0 +1,57 @@
+---
+title: "Onboard USDe Aave V3 Ethereum"
+author: "ACI"
+discussions: "https://governance.aave.com/t/arfc-onboard-usde-to-aave-v3-on-ethereum/17690"
+snapshot: "https://snapshot.org/#/aave.eth/proposal/0xc1b6d0d390a2dabf81206f592f740c69163dd028dcb0f50182d0ad3a50e744b0"
+---
+
+## Simple Summary
+
+This proposal seek approval for the addition of USDe to Aave V3 on Ethereum
+
+## Motivation
+
+Ethena’s synthetic dollar, USDe, provides a stable crypto-native solution for a cash and carry structured product. The staked version of USDe, sUSDe, earns yield from the protocol and has high potential for strong borrow demand.
+
+## Specification
+
+The table below illustrates the configured risk parameters for **USDe**
+
+| Parameter                          |                                      Value |
+| ---------------------------------- | -----------------------------------------: |
+| Isolation Mode                     |                                       true |
+| Borrowable                         |                                    ENABLED |
+| Collateral Enabled                 |                                       true |
+| Supply Cap (USDe)                  |                                 80,000,000 |
+| Borrow Cap (USDe)                  |                                 72,000,000 |
+| Debt Ceiling                       |                             USD 40,000,000 |
+| LTV                                |                                       72 % |
+| LT                                 |                                       75 % |
+| Liquidation Bonus                  |                                      8.5 % |
+| Liquidation Protocol Fee           |                                       10 % |
+| Reserve Factor                     |                                       25 % |
+| Base Variable Borrow Rate          |                                        0 % |
+| Variable Slope 1                   |                                        9 % |
+| Variable Slope 2                   |                                       75 % |
+| Uoptimal                           |                                       80 % |
+| Stable Borrowing                   |                                   DISABLED |
+| Stable Slope1                      |                                        9 % |
+| Stable Slope2                      |                                       75 % |
+| Base Stable Rate Offset            |                                        0 % |
+| Stable Rate Excess Offset          |                                        0 % |
+| Optimal Stable To Total Debt Ratio |                                        0 % |
+| Flashloanable                      |                                    ENABLED |
+| Siloed Borrowing                   |                                   DISABLED |
+| Borrowable in Isolation            |                                    ENABLED |
+| Oracle                             | 0x55B6C4D3E8A27b8A1F5a263321b602e0fdEEcC17 |
+
+## References
+
+- Implementation: [AaveV3Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.sol)
+- Tests: [AaveV3Ethereum](https://github.com/bgd-labs/aave-proposals-v3/blob/main/src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.t.sol)
+- [Snapshot](https://snapshot.org/#/aave.eth/proposal/0xc1b6d0d390a2dabf81206f592f740c69163dd028dcb0f50182d0ad3a50e744b0)
+- [Discussion](https://governance.aave.com/t/arfc-onboard-usde-to-aave-v3-on-ethereum/17690)
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
diff --git a/...0240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum_20240528.s.sol b/...0240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum_20240528.s.sol
@@ -0,0 +1,61 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/GovV3Helpers.sol';
+import {AaveV3Ethereum} from 'aave-address-book/AaveV3Ethereum.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+import {EthereumScript} from 'aave-helpers/ScriptUtils.sol';
+import {AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528} from './AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528.sol';
+
+/**
+ * @dev Deploy Ethereum
+ * deploy-command: make deploy-ledger contract=src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum_20240528.s.sol:DeployEthereum chain=mainnet
+ * verify-command: FOUNDRY_PROFILE=mainnet npx catapulta-verify -b broadcast/OnboardUSDeAaveV3Ethereum_20240528.s.sol/1/run-latest.json
+ */
+contract DeployEthereum is EthereumScript {
+  function run() external broadcast {
+    // deploy payloads
+    address payload0 = GovV3Helpers.deployDeterministic(
+      type(AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528).creationCode
+    );
+
+    // compose action
+    IPayloadsControllerCore.ExecutionAction[]
+      memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
+    actions[0] = GovV3Helpers.buildAction(payload0);
+
+    // register action at payloadsController
+    GovV3Helpers.createPayload(actions);
+  }
+}
+
+/**
+ * @dev Create Proposal
+ * command: make deploy-ledger contract=src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum_20240528.s.sol:CreateProposal chain=mainnet
+ */
+contract CreateProposal is EthereumScript {
+  function run() external {
+    // create payloads
+    PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);
+
+    // compose actions for validation
+    IPayloadsControllerCore.ExecutionAction[]
+      memory actionsEthereum = new IPayloadsControllerCore.ExecutionAction[](1);
+    actionsEthereum[0] = GovV3Helpers.buildAction(
+      type(AaveV3Ethereum_OnboardUSDeAaveV3Ethereum_20240528).creationCode
+    );
+    payloads[0] = GovV3Helpers.buildMainnetPayload(vm, actionsEthereum);
+
+    // create proposal
+    vm.startBroadcast();
+    GovV3Helpers.createProposal(
+      vm,
+      payloads,
+      GovernanceV3Ethereum.VOTING_PORTAL_ETH_POL,
+      GovV3Helpers.ipfsHashFile(
+        vm,
+        'src/20240528_AaveV3Ethereum_OnboardUSDeAaveV3Ethereum/OnboardUSDeAaveV3Ethereum.md'
+      )
+    );
+  }
+}