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ChaosLabs proposed the integration of ENS into the Ethereum Aave V3 Market, as part of the community's transition from V2 to V3, with specific parameters including a supply cap of 1M and a borrow cap of 40,000. Following a successful AIP, the proposal was executed, marking a significant step in the community's transition and setting a positive precedent for future migrations.
The discussion primarily revolved around the proposal by ChaosLabs to integrate ENS into the Ethereum Aave V3 Market. This move is part of the community's broader efforts to transition from V2 to V3. The proposal outlined a multi-phased plan to encourage the adoption of V3, with ENS, currently listed on V2 Ethereum with borrowing disabled, proposed to be listed on Aave V3 on Ethereum. The plan also included a cautious approach to setting borrowing caps, ensuring they account for no more than 1% of the average daily trading volume. The supply cap was determined using V2 data, and the proposal also suggested adjustments to the IR Slope1 to reflect changes in interest rates and the liquidation bonus levels to the current liquidity levels in DEXs1.
The proposal also detailed specific parameters for ENS, including a supply cap of 1M, a borrow cap of 40,000, a debt ceiling of $3.9M, and an LTV of 39.00% among others1. 0xkeyrock.eth voiced their support for the proposal, particularly praising the careful approach to setting borrowing caps for low market cap tokens2.
The discussion concluded with ChaosLabs publishing a Snapshot for the community to vote on the proposal3. Following a successful AIP, the proposal was executed, and ENS is now available on V3 Ethereum4. This marks a significant step in the community's transition from V2 to V3, and the careful planning and execution of this proposal set a positive precedent for future migrations.
Posted 7 months ago
Last reply 5 months ago
Summary updated 2 months ago
Last updated 03/12 08:00