QIP230: Add AERO as Collateral for MAI

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network: Base
author: Benjamin.lens
implementor: Guardians
implementation-date: After approval
created: 2024-03-28

Summary

AERO is the governance token for Aerodrome Finance, the leading DEX on Base. It has a market cap of $623M and FDV of $1.5Bn.

The average daily price change is 11.18%, with the median at 6.38%. These figures are net of direction.

Security

AERO follows an emissions schedule that is tied to its incentives gauges. The team does not have admin minting rights.

Vault specifications:

• Collateral asset to be used: AERO
• Minimum collateral to debt ratio: 300%
• Fees: 25% variable interest rate
• Minimum debt: 100 MAI
• Maximum debt: 5M MAI
• Oracle provider: Chainlink
• Risk grading: B-
• Risk methodology: risk analysis](https://docs.google.com/spreadsheets/d/1_TbG6v9LzwuvibK09Q2TjuElnnIbjQGwqfTZcsuD0wg/edit?usp=sharing)

Motivation

AERO is the largest native governance token on Base, and represents an important opportunity for QiDao to grow on that ecosystem. QiDao's isolated lending model can provide a unique use case for AERO, attracting new TVL into the protocol.

Quorum Standards

The option with the most votes will be adopted

Options

• Approve proposal
• Further discussions needed
• Abstain