[ARFC] Add native USDC to the Arbitrum V3 pool

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The discussion focused on MarcZeller's proposal to add the native USDC token to the Aave V3 pool on Arbitrum, which would coexist with the current "USDC.e" token. The proposal, now escalated to the Snapshot stage as AIP-251, received support from community members and organizations like Gauntlet, who suggested a supply cap of 41M, and Balancer, who expressed interest in migrating bbaUSD to use the new native USDC.

The discussion primarily revolved around the proposal by MarcZeller to add the native version of USDC on Arbitrum to the Aave V3 pool on Arbitrum. The proposal suggests that the native USDC token will eventually supersede the current “USDC.e” token and become the primary version of the USDC stablecoin on the Arbitrum L2. It's important to note that the proposal does not suggest any action for USDC.e, meaning if the proposal is accepted, both USDC.e and the native USDC will be onboarded simultaneously on the Arbitrum V3 pool. The proposal also includes the parameters for both USDC.e and native USDC1.

The proposal received support from various community members including 0xkeyrock.eth and Gauntlet. Gauntlet also recommended setting the supply cap no higher than 60% of on-chain token supply, which implies a supply cap of 41M, and suggested setting the borrow cap equal to the supply cap3. Solarcurve mentioned that Balancer is keen to migrate bbaUSD on Arbitrum over to use the new native USDC4.

The discussion concluded with MarcZeller announcing that the proposal has been escalated to the Snapshot stage and voting will start the following day5. ChaosLabs also expressed support for the addition of native USDC to the V3 Arbitrum pool, following the parameters recommended in their post6. The proposal has been published as AIP-251, with voting set to commence the following day7.

Posted 6 months ago

Last reply 5 months ago

Summary updated 2 months ago

Last updated 09/12 13:52