KVORUM
aaveSource: Aave governance v3 · #495

Onboard PT-srUSDe-22OCT2026 to Aave V3 Core

executedJun 21, 2026, 04:10 PM UTCby660x66a2…73ff

01Summary

AISummary by Kvorumclaude-haiku-4-5

Proposal to onboard PT-srUSDe-22OCT2026 (a Pendle finance token expiring October 22, 2026) as collateral on Aave V3 Ethereum. The token will be supplied-only with a 25M supply cap, configured with specific risk parameters and E-Mode settings. This provides a rollover destination for users of the expiring PT-srUSDe-25JUN2026 token.

Type
protocol addition

Key changes

  • Add PT-srUSDe-22OCT2026 as collateral asset to Aave V3 Core on Ethereum with 25M supply cap(high)
  • Configure asset as non-borrowable with 0% LTV and LT in default mode to restrict usage as collateral in base markets(high)
  • Enable PT-srUSDe-22OCT2026 collateral in two E-Mode categories: PT-srUSDe Stablecoins (88.42% LTV) and PT-srUSDe USDe (91.06% LTV)(high)
  • Set up dynamic linear discount rate oracle with initial rate of 5.31% and max rate of 10.22% for token pricing(medium)
  • Configure 45% reserve factor and variable borrow rate slopes (10% slope 1, 300% slope 2) at 45% optimal utilization(medium)

Notable concerns

  • Token has expiration date of October 22, 2026 which will require users to migrate again
  • Borrowing is severely restricted (capped at 1 unit) and only available in E-Mode
  • Zero LTV and LT in base mode means asset cannot be used as collateral outside E-Mode categories
  • Dynamic oracle discount rate increases over time (5.31% to 10.22%), affecting token valuation as expiry approaches
Contracts0xbe8b76b55734f277156ec5702408bf210a6fc23b0xbd1bc41479d0b58167584980fe57fda913d4fb73
Generated by Kvorum
model: claude-haiku-4-5
provider: anthropic
profile: anthropic-fast-v1
prompt: v1.0
generated: 2mo ago
Read the description ↗

02Description

382 words

Simple Summary

This proposal seeks to onboard PT-srUSDe-22OCT2026 to the Aave V3 Core Instance on Ethereum.

Motivation

Given the established adoption of PT-srUSDe collateral on Aave and the upcoming expiry of PT-srUSDe-25JUN2026, this listing provides a natural rollover destination for existing users.

Specification

The table below illustrates the configured risk parameters for PT_srUSDe_22OCT2026

ParameterValue
BorrowableDISABLED
Collateral Enabledtrue
Supply Cap (PT_srUSDe_22OCT2026)25,000,000
Borrow Cap (PT_srUSDe_22OCT2026)1
LTV0 %
LT0 %
Liquidation Bonus0 %
Liquidation Protocol Fee10 %
Reserve Factor45 %
Base Variable Borrow Rate0 %
Variable Slope 110 %
Variable Slope 2300 %
Uoptimal45 %
FlashloanableDISABLED
Oracle0xbd1bc41479d0b58167584980fe57fda913d4fb73

PT-srUSDe Stablecoins E-Mode

AssetPT-srUSDe-22OCT2026sUSDeUSDCUSDTUSDe
CollateralYesYesNoNoNo
BorrowableNoNoYesYesYes
LTV88.42%88.42%---
LT90.42%90.42%---
Liquidation Bonus5.68%5.68%---

PT-srUSDe USDe E-Mode

AssetPT-srUSDe-22OCT2026sUSDeUSDe
CollateralYesYesNo
BorrowableNoNoYes
LTV91.06%91.06%-
LT93.06%93.06%-
Liquidation Bonus2.68%2.68%-

Pricing PT-srUSDe-22OCT2026 is done with a dynamic linear discount rate oracle.

Linear Discount Rate Oracle

ParameterValue
initialDiscountRatePerYear5.31%
maxDiscountRatePerYear10.22%

References

Copyright

Copyright and related rights waived via CC0.

03Mismatch analysis

AIMismatch analysis by Kvorumlow confidenceclaude-sonnet-5
Consistent

The proposal follows the standard Aave V3 governance pattern: a single on-chain action that calls execute() on a dedicated payload contract (0xbe8b76b55734f277156ec5702408bf210a6fc23b), which is typical for asset-listing proposals referenced by an implementation Solidity file. The decoded calldata contains no granular arguments (no risk parameters, e-mode settings, or oracle addresses are visible in the JSON), so it is not possible to directly verify each numeric claim (LTV, LT, caps, e-mode parameters, discount rates) against the calldata itself. However, this is expected behavior for Aave's payload-based governance execution model — the detailed configuration lives inside the payload contract's bytecode, not in the top-level calldata. Since the single decoded action does not contradict any claim in the description (it simply invokes the payload that presumably implements exactly what's described, and the target address matches the referenced implementation link), there is no basis to flag a value or target mismatch. Confidence is set to low because the calldata is too opaque (a bare execute() call) to fully cross-verify the many specific parameters listed in the description; this is a case where the calldata, not the description, is under-specified for direct comparison. No omissions, extra claims, or misleading phrasing were identified within the scope of what can be verified.

Generated by Kvorum
model: claude-sonnet-5
provider: anthropic
profile: anthropic-strong-v1
prompt: v1.0
generated: 2mo ago
Review the decoded actions ↗

04Actions

1 total
#0fallback()chain 0x1
Target
0xbe8b…c23b
Value
0 wei
Function
fallback()
Arguments
{}
Calldata

05Tally

Summed from votes

Voters0
VP participating0
Outcome (current)—
Current support—

06Voters

0 total
Filter:
VoterChoice% of totalRationale
330x3320…3bb7For107.2K0.00%—5mo ago
2C0x2cc1…4df1For88.4K0.00%—5mo ago
8B0x8b37…2a22For76.1K0.00%—5mo ago
B90xb933…8dd1For54K0.00%—5mo ago
EC0xecc2…6ac9For29.3K0.00%—5mo ago
360x3676…574dFor25K0.00%—5mo ago
070x0703…961bFor10K0.00%—5mo ago
EZezr3al.eth0x8659…7d0eFor5.8K0.00%—5mo ago
7F0x7fd5…caafFor161.60.00%—5mo ago
3D0x3ddc…05b0For102.40.00%—5mo ago
2F0x2f2f…f78aFor5.20.00%—5mo ago
CD0xcd9b…45b1Against20.00%—5mo ago
010x019e…2ee3For0.30.00%—5mo ago
530x53da…c14bFor00.00%—5mo ago
4D0x4d4a…1bdfFor00.00%—5mo ago
Showing 15

07Forum

No forum thread is confidently linked to this proposal.