RP & ERC4626 Review - waMonsyrupUSDC on Monad

[tiago-hansen]

Additional Contract Information

• Is the rate provider reporting for a stable coin/FX/Yield tracking?
• Is the rate provider reporting a market rate?
• Is a combined rate provider needed (i.e. wstETH in aave)?
• Does this rate provider pertain to an ERC4626 contract?
• If so, is the intention for this ERC4626 asset to be boosted?
• If so, is the Buffer already initialized
• If so, shall the underlying asset be used to add/remove liquidity in a pool if possible? (i.e. add USDC for waUSDC)
• If so, shall the wrapped asset also be used to add/remove liquidity in a pool? (i.e. add waUSDC directly)

Network

monad

Rate provider contract address

0xd3499aCe546c32F554250b22D423F68ae7f55a1d

Asset contract address

0x6f2cdF03c8343E1eA608668812Fb094E46C41C80

audits

https://aave.com/security

Protocol Documentation

The rate provider is a combined rate provider that multiplies two rates to denominate waMonsyrupUSDC in USDC: (1) the waMonsyrupUSDC ERC4626 rate in terms of underlying syrupUSDC (rate provider 0x1717F2222dF2e91Da627A5E19C9b5E3CE9AC7912), and (2) the syrupUSDC/USDC exchange rate (rate provider 0xfA37855da71e45442ebC3eA5bde9955a00B4Afe1, which reads the Chainlink SYRUPUSDC / USDC Exchange Rate feed at 0xaeC21ef8f7aA33687c647BFEDaA8CD7F7855973F). The combination is required because the underlying syrupUSDC is itself a yield bearing asset.

ERC4626 Asset contract address

0x6f2cdF03c8343E1eA608668812Fb094E46C41C80

ERC4626 Asset contract audits

https://aave.com/security

ERC4626 Asset contract documentation

The waMonsyrupUSDC ERC4626 vault is a Static aToken wrapper developed by Aave that wraps Aave V3's interest-bearing aToken (syrupUSDC supplied to the Aave Monad market) into a non-rebasing ERC4626 token whose value continuously appreciates as lending yield accrues.

Link to passing fork tests

balancer/balancer-v3-erc4626-tests#147

Terms and Conditions

• The protocol to be integrated has been audited by at least one security firm or independent researcher.
• If deployed, the contract & all involved downstream contracts are verified on etherscan.
• The contract does not rely upon an EOA to supply any critical data (e.g., price).
• If upgradeable, the contract's administrator is not an EOA.