[ARFC] Onboard syrupUSDC to Aave V3 Core Instance
AI summary
This proposal seeks to add syrupUSDC, a yield-bearing token from Maple Finance, as a collateral asset on Aave V3. syrupUSDC offers returns from overcollateralized institutional loans. Maple Finance, an on-chain asset manager, aims to bring over $500 million in USDC/USDT to Aave through this integration. Maple Finance is also offering $250,000 in incentives to encourage the use of syrupUSDC on Aave.
If passed, Aave users will gain a new collateral option that generates yield, potentially increasing Aave's total value locked (TVL) and USDC lending rates. Maple Finance and its institutional network will benefit from increased access to Aave's liquidity, and Aave could see increased adoption of its stablecoin, GHO. The $250,000 in incentives from Maple Finance will directly benefit Aave users who utilize syrupUSDC.
Voting results
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🐳 Whale votes
10 votes > 5% VPFull proposal
Summary
This proposal seeks to onboard syrupUSDC — a USDC-based yield-bearing token issued by Maple Finance — as a collateral asset on Aave V3 Core Instance. syrupUSDC is built on top of Maple’s infrastructure and offers access to overcollateralized, fixed-rate institutional loans, providing high and consistent yields to DeFi users.
Maple, launched in 2021, is an on-chain Asset Manager with decades of traditional finance and crypto experience.
Motivation
Onboarding syrupUSDC to Aave V3 Core Instance provides: New Token Type: A new collateral option backed by real yield from fixed…