Title: Onboard USDC Vault onto Arbitrum
Author(s): Chris B
Related Discussions: SIP2.x proposal for the Arks to follow
Submission Date: 20-Feb-2025
Summary
Onboard USDC Vault onto Arbitrum with Aave V3, Compound V3, Fluid and Gearbox Arks.
Overview
Based on requests from some potential integrators and users, proposing to onboard a USDC Vault on Arbitrum.
Motivation
After an extremely successful first week, where the protocol quickly reached over £26M in TVL, we have had several enquiries about additional USDC Vaults on other L2s, in particular on Arbitrum. These requests have come from both potential integrators into the protocol and also users.
On both Ethereum and Base, we have seen solid adoption of USDC vaults, with over 10M deposited, representing just over 1/3 of the TVL across the protocol.
Specification
Code changes to follow by someone who understand the code required.
Specifically what would be added though, as per this proposal:
Vault Deposit Token: USDC
Network: Arbitrum
Supported Arks at launch: AaveV3, CompoundV3, Fluid, Gearbox (will propose SIP2.X and link here when done to support these)
Risk Level: Lower Risk (as no exposure to swaps or peg)
Depending on Block Analitica Risk models, I would propose adding the same relative amount of SUMR token rewards to the Arb USDC (currently 27k a day, based on 7.5M Vault cap).
Voting:
For this initial proposal, it would be good to get initial feedback and intentions from delegates, and if no major objections, move to onchain vote where a yes vote would deploy the Vault and supported Arks all with 0 caps.
Edit: Added Ark Onboarding SIP2 proposal to related proposals.
