feat: pt usdg may 26 listing on v3 core

src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.sol

@@ -0,0 +1,117 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {AaveV3Ethereum, AaveV3EthereumAssets} from 'aave-address-book/AaveV3Ethereum.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+import {AaveV3PayloadEthereum} from 'aave-helpers/src/v3-config-engine/AaveV3PayloadEthereum.sol';
+import {EngineFlags} from 'aave-v3-origin/contracts/extensions/v3-config-engine/EngineFlags.sol';
+import {IAaveV3ConfigEngine} from 'aave-v3-origin/contracts/extensions/v3-config-engine/IAaveV3ConfigEngine.sol';
+import {IERC20} from 'openzeppelin-contracts/contracts/token/ERC20/IERC20.sol';
+import {SafeERC20} from 'openzeppelin-contracts/contracts/token/ERC20/utils/SafeERC20.sol';
+import {IEmissionManager} from 'aave-v3-origin/contracts/rewards/interfaces/IEmissionManager.sol';
+
+/**
+ * @title Onboard PT-USDG 28MAY2026 on V3 Core
+ * @author Aave Labs
+ * - Snapshot: https://snapshot.org/#/s:aavedao.eth/proposal/0xaa29094accbcccd70088fb77dfd2800a4488319a0942b226c5699ea35d1c9e19
+ * - Discussion: https://governance.aave.com/t/arfc-onboard-pt-usdg-28may2026-to-aave-v3-core-instance/24345/4
+ */
+contract AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407 is AaveV3PayloadEthereum {
+  using SafeERC20 for IERC20;
+
+  address public constant PT_USDG_28MAY2026 = 0x9db38D74a0D29380899aD354121DfB521aDb0548;
+  uint256 public constant PT_USDG_28MAY2026_SEED_AMOUNT = 100e6;
+  address public constant PT_USDG_28MAY2026_LM_ADMIN = 0xac140648435d03f784879cd789130F22Ef588Fcd;
+
+  function newListings() public pure override returns (IAaveV3ConfigEngine.Listing[] memory) {
+    IAaveV3ConfigEngine.Listing[] memory listings = new IAaveV3ConfigEngine.Listing[](1);
+
+    listings[0] = IAaveV3ConfigEngine.Listing({
+      asset: PT_USDG_28MAY2026,
+      assetSymbol: 'PT_USDG_28MAY2026',
+      priceFeed: 0x90498d4334259FA769830ccA9114D8bcF3745F6c,
+      enabledToBorrow: EngineFlags.DISABLED,
+      borrowableInIsolation: EngineFlags.DISABLED,
+      withSiloedBorrowing: EngineFlags.DISABLED,
+      flashloanable: EngineFlags.DISABLED,
+      ltv: 0,
+      liqThreshold: 0,
+      liqBonus: 0,
+      reserveFactor: 45_00,
+      supplyCap: 80_000_000,
+      borrowCap: 1,
+      debtCeiling: 0,
+      liqProtocolFee: 10_00,
+      rateStrategyParams: IAaveV3ConfigEngine.InterestRateInputData({
+        optimalUsageRatio: 45_00,
+        baseVariableBorrowRate: 0,
+        variableRateSlope1: 10_00,
+        variableRateSlope2: 300_00
+      })
+    });
+
+    return listings;
+  }
+
+  function eModeCategoryCreations()
+    public
+    pure
+    override
+    returns (IAaveV3ConfigEngine.EModeCategoryCreation[] memory)
+  {
+    IAaveV3ConfigEngine.EModeCategoryCreation[]
+      memory eModeCreations = new IAaveV3ConfigEngine.EModeCategoryCreation[](1);
+
+    {
+      address[] memory collaterals = new address[](1);
+      address[] memory borrowables = new address[](4);
+
+      collaterals[0] = PT_USDG_28MAY2026;
+
+      borrowables[0] = AaveV3EthereumAssets.USDT_UNDERLYING;
+      borrowables[1] = AaveV3EthereumAssets.USDe_UNDERLYING;
+      borrowables[2] = AaveV3EthereumAssets.USDC_UNDERLYING;
+      borrowables[3] = AaveV3EthereumAssets.USDG_UNDERLYING;
+
+      eModeCreations[0] = IAaveV3ConfigEngine.EModeCategoryCreation({
+        ltv: 93_50,
+        liqThreshold: 95_50,
+        liqBonus: 2_00,
+        label: 'PT_USDG_28MAY2026__Stablecoins',
+        collaterals: collaterals,
+        borrowables: borrowables
+      });
+    }
+
+    return eModeCreations;
+  }
+
+  function _preExecute() internal override {
+    AaveV3Ethereum.COLLECTOR.transfer(
+      IERC20(PT_USDG_28MAY2026),
+      GovernanceV3Ethereum.EXECUTOR_LVL_1,
+      PT_USDG_28MAY2026_SEED_AMOUNT
+    );
+  }
+
+  function _postExecute() internal override {
+    _supplyAndConfigureLMAdmin(
+      PT_USDG_28MAY2026,
+      PT_USDG_28MAY2026_SEED_AMOUNT,
+      PT_USDG_28MAY2026_LM_ADMIN
+    );
+  }
+
+  function _supplyAndConfigureLMAdmin(address asset, uint256 seedAmount, address lmAdmin) internal {
+    IERC20(asset).forceApprove(address(AaveV3Ethereum.POOL), seedAmount);
+    AaveV3Ethereum.POOL.supply(asset, seedAmount, address(AaveV3Ethereum.DUST_BIN), 0);
+
+    if (lmAdmin != address(0)) {
+      address aToken = AaveV3Ethereum.POOL.getReserveAToken(asset);
+      address vToken = AaveV3Ethereum.POOL.getReserveVariableDebtToken(asset);
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).setEmissionAdmin(asset, lmAdmin);
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).setEmissionAdmin(aToken, lmAdmin);
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).setEmissionAdmin(vToken, lmAdmin);
+    }
+  }
+}

src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.t.sol

@@ -0,0 +1,116 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers} from 'aave-helpers/src/GovV3Helpers.sol';
+import {AaveV3Ethereum, AaveV3EthereumAssets} from 'aave-address-book/AaveV3Ethereum.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+import {IERC20Metadata, IERC20} from 'openzeppelin-contracts/contracts/token/ERC20/extensions/IERC20Metadata.sol';
+import {IEmissionManager} from 'aave-v3-origin/contracts/rewards/interfaces/IEmissionManager.sol';
+import {IPendlePriceCapAdapter} from 'src/interfaces/IPendlePriceCapAdapter.sol';
+
+import {ProtocolV3TestBase, ReserveConfig} from 'aave-helpers/src/ProtocolV3TestBase.sol';
+import {AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407} from './AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.sol';
+
+/**
+ * @dev Test for AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407
+ * command: FOUNDRY_PROFILE=test forge test --match-path=src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.t.sol -vv
+ */
+contract AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407_Test is ProtocolV3TestBase {
+  AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407 internal proposal;
+
+  function setUp() public {
+    vm.createSelectFork(vm.rpcUrl('mainnet'), 24829171);
+    proposal = new AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407();
+  }
+
+  /**
+   * @dev executes the generic test suite including e2e and config snapshots
+   */
+  function test_defaultProposalExecution() public {
+    defaultTest(
+      'AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407',
+      AaveV3Ethereum.POOL,
+      address(proposal)
+    );
+  }
+
+  function test_dustBinHasPT_USDG_28MAY2026Funds() public {
+    GovV3Helpers.executePayload(vm, address(proposal));
+    address aTokenAddress = AaveV3Ethereum.POOL.getReserveAToken(proposal.PT_USDG_28MAY2026());
+    assertGe(IERC20(aTokenAddress).balanceOf(address(AaveV3Ethereum.DUST_BIN)), 100e6);
+  }
+
+  function test_e2e_in_emode() public {
+    GovV3Helpers.executePayload(vm, address(proposal));
+
+    address collateralSupplier = vm.addr(3);
+    uint8 eModeId = _findEModeCategoryId('PT_USDG_28MAY2026__Stablecoins');
+    vm.prank(collateralSupplier);
+    AaveV3Ethereum.POOL.setUserEMode(eModeId);
+
+    ReserveConfig memory collateralConfig = _getStructReserveConfig(
+      AaveV3Ethereum.POOL,
+      proposal.PT_USDG_28MAY2026()
+    );
+    collateralConfig.usageAsCollateralEnabled = true; // workaround until https://github.com/aave-dao/aave-helpers/pull/686
+    ReserveConfig[4] memory borrowables = [
+      _getStructReserveConfig(AaveV3Ethereum.POOL, AaveV3EthereumAssets.USDT_UNDERLYING),
+      _getStructReserveConfig(AaveV3Ethereum.POOL, AaveV3EthereumAssets.USDe_UNDERLYING),
+      _getStructReserveConfig(AaveV3Ethereum.POOL, AaveV3EthereumAssets.USDC_UNDERLYING),
+      _getStructReserveConfig(AaveV3Ethereum.POOL, AaveV3EthereumAssets.USDG_UNDERLYING)
+    ];
+    uint256 snapshot = vm.snapshotState();
+    for (uint256 i = 0; i < borrowables.length; i++) {
+      borrowables[i].borrowingEnabled = true;
+      e2eTestAsset(AaveV3Ethereum.POOL, collateralConfig, borrowables[i]);
+      vm.revertToState(snapshot);
+    }
+  }
+
+  function test_PT_USDG_28MAY2026Admin() public {
+    GovV3Helpers.executePayload(vm, address(proposal));
+    address aPT_USDG_28MAY2026 = AaveV3Ethereum.POOL.getReserveAToken(proposal.PT_USDG_28MAY2026());
+    address vPT_USDG_28MAY2026 = AaveV3Ethereum.POOL.getReserveVariableDebtToken(
+      proposal.PT_USDG_28MAY2026()
+    );
+    assertEq(
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).getEmissionAdmin(
+        proposal.PT_USDG_28MAY2026()
+      ),
+      proposal.PT_USDG_28MAY2026_LM_ADMIN()
+    );
+    assertEq(
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).getEmissionAdmin(aPT_USDG_28MAY2026),
+      proposal.PT_USDG_28MAY2026_LM_ADMIN()
+    );
+    assertEq(
+      IEmissionManager(AaveV3Ethereum.EMISSION_MANAGER).getEmissionAdmin(vPT_USDG_28MAY2026),
+      proposal.PT_USDG_28MAY2026_LM_ADMIN()
+    );
+  }
+
+  function test_oracle_config() public {
+    GovV3Helpers.executePayload(vm, address(proposal));
+
+    address underlying = proposal.PT_USDG_28MAY2026();
+    address base = AaveV3EthereumAssets.USDG_UNDERLYING;
+    IPendlePriceCapAdapter source = IPendlePriceCapAdapter(
+      AaveV3Ethereum.ORACLE.getSourceOfAsset(underlying)
+    );
+
+    assertEq(source.ASSET_TO_USD_AGGREGATOR(), AaveV3Ethereum.ORACLE.getSourceOfAsset(base));
+    assertEq(source.MAX_DISCOUNT_RATE_PER_YEAR(), 18.82e16);
+    assertEq(source.discountRatePerYear(), 5.12e16);
+  }
+
+  function _findEModeCategoryId(string memory label) internal view returns (uint8) {
+    for (uint8 i = 1; i < 255; i++) {
+      if (
+        keccak256(bytes(AaveV3Ethereum.POOL.getEModeCategoryLabel(i))) == keccak256(bytes(label))
+      ) {
+        return i;
+      }
+    }
+    revert('eMode category not found');
+  }
+}

src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/OnboardPTUSDG28MAY2026OnV3Core.md

@@ -0,0 +1,79 @@
+---
+title: "Onboard PT-USDG 28MAY2026 on V3 Core"
+author: "Aave Labs"
+discussions: "https://governance.aave.com/t/arfc-onboard-pt-usdg-28may2026-to-aave-v3-core-instance/24345/4"
+snapshot: "https://snapshot.org/#/s:aavedao.eth/proposal/0xaa29094accbcccd70088fb77dfd2800a4488319a0942b226c5699ea35d1c9e19"
+---
+
+## Simple Summary
+
+This AIP proposes to onboard PT-USDG-28MAY2026 to the Aave V3 Core Instance on Ethereum.
+
+## Motivation
+
+We propose onboarding PT-USDG-28MAY2026 to the Aave V3 Core Instance.
+
+This PT token is attractive because the underlying asset is USDG, issued by Paxos, a highly regulated financial institution. This gives the market a dollar-denominated base asset with a straightforward reference point. A listing would allow users holding this Pendle maturity to access borrowing liquidity on Aave against that position, extending the utility of an already live market on Ethereum.
+
+The relevant Pendle market is already live, which allows the asset to be evaluated against observable market activity rather than hypothetical demand. Where demand scales, onboarding can allow Aave to capture additional collateral usage and related borrowing activity around this maturity.
+
+The underlying yield of PT-USDG has three components: a NIM rate pass-through, Paxos-denominated incentives, and PENDLE incentives. As a GDN member, Paxos passes yield to Pendle, which distributes it to YT holders via the Pendle Dashboard. PT holders capture this yield implicitly through the fixed discount at which PT is acquired, redeemable at par upon maturity.
+
+## Specification
+
+**PT-USDG-28MAY2026**: https://etherscan.io/address/0x9db38D74a0D29380899aD354121DfB521aDb0548
+
+The table below illustrates the configured risk parameters for **PT_USDG_28MAY2026**
+
+| Parameter                      |                                      Value |
+| ------------------------------ | -----------------------------------------: |
+| Isolation Mode                 |                                      false |
+| Borrowable                     |                                   DISABLED |
+| Collateral Enabled             |                                       true |
+| Supply Cap (PT_USDG_28MAY2026) |                                 80,000,000 |
+| Borrow Cap (PT_USDG_28MAY2026) |                                          1 |
+| Debt Ceiling                   |                                      USD 0 |
+| LTV                            |                                        0 % |
+| LT                             |                                        0 % |
+| Liquidation Bonus              |                                        0 % |
+| Liquidation Protocol Fee       |                                       10 % |
+| Reserve Factor                 |                                       45 % |
+| Base Variable Borrow Rate      |                                        0 % |
+| Variable Slope 1               |                                       10 % |
+| Variable Slope 2               |                                      300 % |
+| Uoptimal                       |                                       45 % |
+| Flashloanable                  |                                   DISABLED |
+| Siloed Borrowing               |                                   DISABLED |
+| Borrowable in Isolation        |                                   DISABLED |
+| Oracle                         | 0x90498d4334259FA769830ccA9114D8bcF3745F6c |
+
+**PT-USDG Stablecoins E-mode**
+
+| Asset             | PT-USDG-28MAY2026 | USDT | USDe | USDC | USDG |
+| ----------------- | ----------------- | ---- | ---- | ---- | ---- |
+| Collateral        | Yes               | No   | No   | No   | No   |
+| Borrowable        | No                | Yes  | Yes  | Yes  | Yes  |
+| LTV               | 93.5%             | -    | -    | -    | -    |
+| LT                | 95.5%             | -    | -    | -    | -    |
+| Liquidation Bonus | 2.0%              | -    | -    | -    | -    |
+
+**Linear Discount Rate Oracle**
+
+| Parameter                  | Value                                      |
+| -------------------------- | ------------------------------------------ |
+| initialDiscountRatePerYear | 5.12%                                      |
+| maxDiscountRatePerYear     | 18.82%                                     |
+| Oracle                     | 0x90498d4334259FA769830ccA9114D8bcF3745F6c |
+
+Additionally [0xac140648435d03f784879cd789130F22Ef588Fcd](https://etherscan.io/address/0xac140648435d03f784879cd789130F22Ef588Fcd) has been set as the emission admin for PT_USDG_28MAY2026 and the corresponding aToken.
+
+## References
+
+- Implementation: [AaveV3Ethereum](https://github.com/aave-dao/aave-proposals-v3/blob/main/src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.sol)
+- Tests: [AaveV3Ethereum](https://github.com/aave-dao/aave-proposals-v3/blob/main/src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.t.sol)
+- [Snapshot](https://snapshot.org/#/s:aavedao.eth/proposal/0xaa29094accbcccd70088fb77dfd2800a4488319a0942b226c5699ea35d1c9e19)
+- [Discussion](https://governance.aave.com/t/arfc-onboard-pt-usdg-28may2026-to-aave-v3-core-instance/24345/4)
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/OnboardPTUSDG28MAY2026OnV3Core_20260407.s.sol

@@ -0,0 +1,63 @@
+// SPDX-License-Identifier: MIT
+pragma solidity ^0.8.0;
+
+import {GovV3Helpers, IPayloadsControllerCore, PayloadsControllerUtils} from 'aave-helpers/src/GovV3Helpers.sol';
+import {GovernanceV3Ethereum} from 'aave-address-book/GovernanceV3Ethereum.sol';
+
+import {EthereumScript} from 'solidity-utils/contracts/utils/ScriptUtils.sol';
+import {AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407} from './AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407.sol';
+
+/**
+ * @dev Deploy Ethereum
+ * deploy-command: make deploy-ledger contract=src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/OnboardPTUSDG28MAY2026OnV3Core_20260407.s.sol:DeployEthereum chain=mainnet
+ * verify-command: FOUNDRY_PROFILE=deploy npx catapulta-verify -b broadcast/OnboardPTUSDG28MAY2026OnV3Core_20260407.s.sol/1/run-latest.json
+ */
+contract DeployEthereum is EthereumScript {
+  function run() external broadcast {
+    // deploy payloads
+    address payload0 = GovV3Helpers.deployDeterministic(
+      type(AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407).creationCode
+    );
+
+    // compose action
+    IPayloadsControllerCore.ExecutionAction[]
+      memory actions = new IPayloadsControllerCore.ExecutionAction[](1);
+    actions[0] = GovV3Helpers.buildAction(payload0);
+
+    // register action at payloadsController
+    GovV3Helpers.createPayload(actions);
+  }
+}
+
+/**
+ * @dev Create Proposal
+ * command: make deploy-ledger contract=src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/OnboardPTUSDG28MAY2026OnV3Core_20260407.s.sol:CreateProposal chain=mainnet
+ */
+contract CreateProposal is EthereumScript {
+  function run() external {
+    // create payloads
+    PayloadsControllerUtils.Payload[] memory payloads = new PayloadsControllerUtils.Payload[](1);
+
+    // compose actions for validation
+    {
+      IPayloadsControllerCore.ExecutionAction[]
+        memory actionsEthereum = new IPayloadsControllerCore.ExecutionAction[](1);
+      actionsEthereum[0] = GovV3Helpers.buildAction(
+        type(AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core_20260407).creationCode
+      );
+      payloads[0] = GovV3Helpers.buildMainnetPayload(vm, actionsEthereum);
+    }
+
+    // create proposal
+    vm.startBroadcast();
+    GovV3Helpers.createProposal(
+      vm,
+      payloads,
+      GovernanceV3Ethereum.VOTING_PORTAL_ETH_AVAX,
+      GovV3Helpers.ipfsHashFile(
+        vm,
+        'src/20260407_AaveV3Ethereum_OnboardPTUSDG28MAY2026OnV3Core/OnboardPTUSDG28MAY2026OnV3Core.md'
+      )
+    );
+  }
+}