KVORUM
aaveSource: Aave governance v3 · #343

Add USDe to the sUSDe emode Category

executedJul 28, 2025, 01:05 PM UTCby570x57ab…2922

01Summary

AISummary by Kvorumclaude-haiku-4-5

Add USDe as collateral to the existing sUSDe/Stablecoins emode category (id:2) on Aave to improve capital efficiency for users of Ethena assets, allowing them to use either USDe or sUSDe as collateral while maintaining leverage.

Type
parameter change

Key changes

  • USDe added as collateral to sUSDe emode category (id:2)(high)
  • USDe joins sUSDe, USDC, USDT, and USDS as available collateral and borrowable assets in the emode category(medium)

Notable concerns

  • USDe and sUSDe have similar risk profiles and high correlation; risk management should monitor concentration in this emode category
Contracts0x3dfeabed49e218f6eb359e4e78cf02284aba8de7
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

227 words

Simple Summary

This proposal aims to add USDe as collateral to the existing sUSDe/Stablecoins emode category to improve capital efficiency and provide a more cohesive borrowing experience for users of Ethena assets on Aave.

Motivation

Currently, the sUSDe (Ethena Synthetic USD) has its own e-mode category in Aave, allowing for optimized borrowing for this specific asset. However, USDe, the native stablecoin from Ethena, is not included in this same e-mode category despite being the underlying asset for sUSDe.

Rationale

  • USDe and sUSDe are intrinsically linked, with sUSDe being the staked version of USDe
  • Both assets have similar risk profiles and high correlation
  • Adding USDe as collateral to the same e-mode category would allow users to add USDe exposure while maintaining their leverage.
  • This change would allow borrowers to use either asset as collateral more effectively

Specification

USDe will be added as collateral to the sUSDe stablecoin emode (id:2)

AssetCurrentProposed
sUSDeCollateralCollateral
USDeNoneCollateral
USDCBorrowableBorrowable
USDTBorrowableBorrowable
USDSBorrowableBorrowable

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorum

A calldata-vs-description analysis is not generated yet. Review the decoded actions →

04Actions

1 total
#0fallback()chain 0x1
Target
0x3dfe…8de7
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total

No votes recorded yet.

07Forum

No forum thread is confidently linked to this proposal.