injective

Prop 359: Upload Aeroscraper Lending & Borrowing Oracle Helper Contract Wasm Code to Injective

Background
Aeroscraper is a DeFi protocol that offers a zero percent interest rate on loans, unparalleled capital efficiency, complete decentralization, and immutability. Central to Aeroscraper's innovation is the use of AUSD, a stablecoin that ensures system over-collateralization and direct redeemability.

Summary
This proposal aims to introduce the Aeroscraper protocol to the Injective ecosystem. By integrating Aeroscraper, Injective can offer its users an innovative lending and borrowing platform that is free from governance, fully decentralized, and designed for optimal capital utilization.

Uniqueness of Aeroscraper
- Zero Percent Interest Rate: Aeroscraper eliminates the burden of accruing interest, offering a cost-effective borrowing experience.
- Governance-Free & Immutable: The protocol operates without any central authority or administrative intervention, ensuring a truly decentralized and immutable DeFi environment.
- Capital Efficiency: Aeroscraper introduces an efficient liquidation mechanism that significantly enhances capital utilization and minimizes the risks associated with under-collateralized positions.
- Innovative Liquidation Process: Unlike traditional CDP platforms, Aeroscraper employs a stability pool and a redistribution mechanism for swift and efficient liquidation, avoiding the need for collateral auctions or market sells.
- Stablecoin Assurance: AUSD maintains stability through over-collateralization and direct redeemability, offering USD worth of INJ for 1 AUSD stablecoin at any time.

Proposal for Injective
By adopting the Aeroscraper contract, Injective will embrace a lending and borrowing protocol that:
- Ensures a zero percent interest rate for borrowers.
- Utilizes a low minimum collateralization ratio, promoting more efficient use of assets.
- Provides a governance-free environment, enhancing decentralization and user trust.
- Guarantees the stability and redeemability of AUSD, enriching the Injective DeFi ecosystem.

Aeroscraper Audit Report
Aeroscraper protocol has completed its audit following the audit process carried out by Beosin Audit company and all the security vulnerabilities presented in the report have been resolved. You can access the detailed report from the link below.

Audit Link:
https://beosin.com/audits/Aeroscraper_202402020919.pdf

Contract Information
Release Version: aeroscraper-oracle-helper-v1.0.0
Compiler Version: cosmwasm/workspace-optimizer:0.12.7

TL;DR
Aeroscraper offers a 0% interest lending and borrowing through AUSD. The proposal to upload the Aeroscraper Oracle Helper Contract aims at integrating these services with the Injective network, promoting financial inclusivity and interoperability.

A "YES" vote supports the expansion of decentralized finance capabilities on Injective via Aeroscraper's lending and borrowing services.

By voting YES on this proposal, you endorse the uploading of the Aeroscraper Wasm Contract as described.

By voting NO, you do not support the uploading of the Aeroscraper Wasm Contract as outlined.

By voting NO WITH VETO, you deem this proposal spam/irrelevant/malicious to governance, risking a 100 INJ deposit burn if NoWithVeto votes surpass ⅓ of total voting power.

By voting ABSTAIN, you choose to contribute to the quorum while formally declining to vote either for or against the proposal.