Simple Summary

This is a Direct-to-AIP proposal to raise the supply caps for weETH on Base to accommodate growing demand and participate in Superchain rewards programs.

Motivation

weETH has been consistently hitting its current supply cap across networks, often immediately after risk steward raises caps.

We propose this ARFC to increase the supply caps, which will bring in in line with market demand and allow new depositors to participate in OP rewards from Optimism’s Superfest program.

Specification

Supply cap for weETH on Aave V3 Base will be increased to 20,000 weETH. The borrow cap will be increased to 9,000 weETH.

References

• Implementation: AaveV3Base
• Tests: AaveV3Base
• Snapshot: Direct-to-AIP
• Discussion

Copyright

Copyright and related rights waived via CC0.

https://app.aave.com/governance/v3/proposal/?proposalId=129