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title: "CRVUSD onboarding on Aave V3 Ethereum" author: "@Marczeller - Aave-chan Initiative" discussions: "https://governance.aave.com/t/arfc-crvusd-onboarding-on-aave-v3-ethereum-pool/15161"

Simple Summary

This AIP proposes the onboarding of the CRVUSD stablecoin, minted by the Curve Protocol, into the Aave V3 Ethereum pool.

Motivation

CrvUSD is a USD-peg stablecoin minted by the Curve Protocol. While it's relatively young, it has grown to a circulating supply of over $130M with strong peg resilience. Onboarding this asset into Aave will:

• Reinforce synergies between Aave and Curve.
• Offer Aave users an additional decentralized stablecoin option matching the ACI diversity support ethos.
• Strengthen the relationship between the CRVUSD & the GHO stablecoins.

As the primary usecase for stablecoins is to be deposited by users looking for a passive yield and used as a borrowable asset and not as much as a collateral asset, the ACI proposes a CRVUSD onboarding outside isolation mode but without collateral properties.

Following CrvUSD maturity, the Aave governance can propose a collateral activation for crvUSD at a later stage.

Specification

Ticker: crvUSD
Contract address: 0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E
Price Feed: 0xEEf0C605546958c1f899b6fB336C20671f9cD49F

We propose the following parameters for a crvUSD onboarding:

References

• Implementation: AaveV3Ethereum
• Tests: AaveV3Ethereum
• Snapshot
• Discussion

Copyright

Copyright and related rights waived via CC0.