Listing PT Ethena 18JUN2026
Listing PT Ethena 18JUN2026
Author
Aave Chan Initiative @aci
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This AIP proposes to onboard USDe and sUSDe June expiry PT tokens on Aave V3 Plasma Instance.
Motivation
The previous USDe and sUSDe PT tokens that were onboarded have brought significant inflows to Aave, in preparation for the expiry and rollover we propose to onboard the next expiry of this PT token. We expect at a minimum that deposits will match those in the current expiry PT token, with potentially some sidelined demand.
Specification
PT sUSDe 18 Jun 2026:
https://plasmascan.to/address/0x30559e3d35e33ab69399a3fe9f383d32bd3c016e
PT USDe 18 Jun 2026:
https://plasmascan.to/address/0x23b17d3944742ace3d0c71586fcb320d1e4a1ed2
PT-USDe-18JUN2026
Initial E-mode Risk Oracle
| Parameter | Value | Value |
|---|---|---|
| E-Mode | Stablecoins | USDe |
| LTV | 91% | 93% |
| LT | 93% | 95% |
| LB | 3.1% | 2.1% |
Linear Discount Rate Oracle
| Parameter | Value |
|---|---|
| Oracle | PT Capped USDe USDT/USD linear discount 18JUN2026 |
| discountRatePerYear | 2.952% |
| maxDiscountRatePerYear | 13.5693% |
| Last answer (March 24th) | 99279807 ($0.99279807) |
| USDT/USD Oracle | Capped USDT/USD |
PT-USDe Stablecoins E-mode
| Asset | PT-USDe-18JUN2026 | PT-USDe-9APR2026 | USDe | USDT0 |
|---|---|---|---|---|
| Collateral | Yes | Yes | Yes | No |
| Borrowable | No | No | Yes | Yes |
| LTV | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
| LT | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
| Liquidation Bonus | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
PT-USDe USDe E-mode
| Asset | PT-USDe-18JUN2026 | PT-USDe-9APR2026 | USDe |
|---|---|---|---|
| Collateral | Yes | Yes | Yes |
| Borrowable | No | No | Yes |
| LTV | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle |
| LT | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle |
| Liquidation Bonus | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle |
PT-sUSDe-18JUN2026
Initial E-mode Risk Oracle
| Parameter | Value | Value |
|---|---|---|
| E-Mode | Stablecoins | USDe |
| LTV | 90% | 91.9% |
| LT | 92% | 93.9% |
| LB | 4.1% | 3.1% |
Linear Discount Rate Oracle
| Parameter | Value |
|---|---|
| Oracle | PT Capped sUSDe USDT/USD linear discount 18JUN2026 |
| discountRatePerYear (Initial) | 3.9617% |
| maxDiscountRatePerYear | 14.4575% |
| Last answer (March 24th) | 99043771 ($0.99043771) |
| USDT/USD Oracle | Capped USDT/USD |
PT-sUSDe Stablecoins E-mode
| Asset | PT-sUSDe-18JUN2026 | PT-sUSDe-9APR2026 | sUSDe | USDT0 | USDe |
|---|---|---|---|---|---|
| Collateral | Yes | Yes | Yes | No | No |
| Borrowable | No | No | No | Yes | Yes |
| LTV | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - | - |
| LT | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - | - |
| Liquidation Bonus | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - | - |
PT-sUSDe USDe E-mode
| Asset | PT-sUSDe-18JUN2026 | PT-sUSDe-9APR2026 | sUSDe | USDe |
|---|---|---|---|---|
| Collateral | Yes | Yes | Yes | No |
| Borrowable | No | No | No | Yes |
| LTV | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
| LT | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
| Liquidation Bonus | Subject to Risk Oracle | Subject to Risk Oracle | Subject to Risk Oracle | - |
The table below illustrates the configured risk parameters for PT_USDe_18JUN2026
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | false |
| Supply Cap (PT_USDe_18JUN2026) | 30,000,000 |
| Borrow Cap (PT_USDe_18JUN2026) | 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 | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | 0x0521d52A7eA98A8B737D367F81975019360e444f |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for PT_USDe_18JUN2026 and the corresponding aToken.
The table below illustrates the configured risk parameters for PT_sUSDE_18JUN2026
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | false |
| Supply Cap (PT_sUSDE_18JUN2026) | 150,000,000 |
| Borrow Cap (PT_sUSDE_18JUN2026) | 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 | ENABLED |
| Siloed Borrowing | DISABLED |
| Borrowable in Isolation | DISABLED |
| Oracle | 0x02d8BF797271E6e0AB65A6D235B93d6e673C055B |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for PT_sUSDE_18JUN2026 and the corresponding aToken.
Disclaimer
ACI is not directly affiliated with Pendle and did not receive compensation for the creation of this proposal. Some ACI employees may hold Pendle tokens.
References
- Implementation: AaveV3Plasma
- Tests: AaveV3Plasma
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.