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MarcZeller proposed disabling stable rate borrowing for the Aave V2 Ethereum pool to simplify the migration from the legacy version of Aave. The proposal, which won't affect current stable borrowing assets, now awaits community and risk team consensus before moving to the ARFC snapshot and potentially the AIP stage.
The discussion primarily revolved around a proposal put forth by MarcZeller to disable stable rate borrowing for the Aave V2 Ethereum pool. The intention behind this proposal is to simplify the offboarding process from the legacy version of Aave, as stable rates tend to create friction in this process. This is because borrowers with stable rates are less likely to be influenced by adjustments in the interest rate strategy, which are designed to encourage migration.
The proposal, if implemented, would prevent any new stable rate borrowing for the Aave V2 protocol. The assets that currently support stable borrowing in the Aave V2 Ethereum pool, including USDT, WBTC, WETH, ZRX, BAT, ENJ, KNC, LINK, MANA, MKR, REN, USDC, and LUSD, would not be affected by this change. However, it would prevent any new stable rate borrows from being initiated.
The next steps in this process involve gathering consensus from the community and risk teams. If consensus is achieved, the proposal will be escalated to the ARFC snapshot stage. If the snapshot outcome is YAE, the proposal will then be escalated to the AIP stage. This proposal and its potential implications were the main focus of the discussion1.
Posted 3 months ago
Last reply 3 months ago
Summary updated 2 months ago
Last updated 08/12 04:39