Onboard eUSDe and eUSDe based PT token to Aave V3 Core
Onboard eUSDe and eUSDe based PT token to Aave V3 Core
Author
Aave-Chan Initiative
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This proposal aims to onboard the eUSDe token as well as the USDe July expiry PT tokens and eUSDe August expiry PT tokens on the Aave V3 Core Instance.
Motivation
Last month listing of various PT tokens where met with massive support from the community and growth for the protocol. To capitalize on this interest we suggest onboard two additional PT tokens to the Core instances. The two PT tokens selected are the same as previously onboarded with a later expiry date.
Specification
eUSDe
The table below illustrates the configured risk parameters for eUSDe
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | true |
| Supply Cap (eUSDe) | 550,000,000 |
| Borrow Cap (eUSDe) | 1 |
| Debt Ceiling | USD 0 |
| LTV | 0.05 % |
| LT | 0.1 % |
| Liquidation Bonus | 7.5 % |
| 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 |
Pricefeed details
| Parameter | Value |
|---|---|
| Oracle | Capped eUSDe / USDe / USD |
| BASE/USD Oracle | Chainlink USDT/USD |
| Ratio Provider | eUSDe |
| Oracle Latest Answer | (2025-05-20) USD 1.0002 |
| min snapshot | 1 day |
| max yearly growth | 0% |
eUSDe/Stablecoin E-Mode(id:15)
| Asset | eUSDe | USDC | USDT | USDS |
|---|---|---|---|---|
| Collateral | Yes | No | No | No |
| Borrowable | No | Yes | Yes | Yes |
| LTV | 90% | - | - | - |
| LT | 93% | - | - | - |
| Liquidation Bonus | 2% | - | - | - |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for eUSDe and the corresponding aToken.
PT_USDe_31JUL2025
The table below illustrates the configured risk parameters for PT_USDe_31JUL2025
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | true |
| Supply Cap (PT_USDe_31JUL2025) | 40,000,000 |
| Borrow Cap (PT_USDe_31JUL2025) | 1 |
| Debt Ceiling | USD 0 |
| LTV | 0.05 % |
| LT | 0.1 % |
| Liquidation Bonus | 7.5 % |
| 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 |
Pricefeed details
| Parameter | Value |
|---|---|
| Oracle | PT Capped USDe USDT/USD linear discount 31JUL2025 |
| Underlying Oracle | Capped USDT/USD |
| Underlying Oracle | Chainlink USDT/USD |
| Oracle Latest Answer | (2025-05-21) USD .98398009 |
| discountRatePerYear | 8.47% |
| maxDiscountRatePerYear | 29.21% |
PT-USDe Stablecoins E-mode(id:10)
| Asset | PT-USDe | USDe | USDC | USDT | USDS |
|---|---|---|---|---|---|
| Collateral | Yes | Yes | No | No | No |
| Borrowable | No | No | Yes | Yes | Yes |
| LTV | Subject to Risk Oracle | - | - | - | - |
| LT | Subject to Risk Oracle | - | - | - | - |
| Liquidation Bonus | Subject to Risk Oracle | - | - | - | - |
PT-USDe USDe E-mode(id:12)
| Asset | PT-USDe | USDe |
|---|---|---|
| Collateral | Yes | Yes |
| Borrowable | No | Yes |
| LTV | Subject to Risk Oracle | - |
| LT | Subject to Risk Oracle | - |
| Liquidation Bonus | Subject to Risk Oracle | - |
Initial E-mode Risk Oracle
| Parameter | Value | Value |
|---|---|---|
| E-Mode | Stablecoin | USDe |
| LTV | 88.1% | 90.1% |
| LT | 91.1% | 92.1% |
| LB | 3.9% | 2.8% |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for PT_USDe_31JUL2025 and the corresponding aToken.
PT_eUSDe_14AUG2025
The table below illustrates the configured risk parameters for PT_eUSDe_14AUG2025
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | true |
| Supply Cap (PT_eUSDe_14AUG2025) | 100,000,000 |
| Borrow Cap (PT_eUSDe_14AUG2025) | 1 |
| Debt Ceiling | USD 0 |
| LTV | 0.05 % |
| LT | 0.1 % |
| Liquidation Bonus | 7.5 % |
| 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 |
Pricefeed details
| Parameter | Value |
|---|---|
| Oracle | PT Capped eUSDe USDT/USD linear discount 14AUG2025 |
| Underlying Oracle | Capped USDT/USD |
| Underlying Oracle | Chainlink USDT/USD |
| Oracle Latest Answer | (2025-05-21) USD .97942094 |
| discountRatePerYear | 9.037% |
| maxDiscountRatePerYear | 29.781% |
PT-eUSDe Stablecoins E-mode(id:13)
| Asset | PT-eUSDe | eUSDe | USDC | USDT | USDS |
|---|---|---|---|---|---|
| Collateral | Yes | Yes | No | No | No |
| Borrowable | No | No | Yes | Yes | Yes |
| LTV | Subject to Risk Oracle | - | - | - | - |
| LT | Subject to Risk Oracle | - | - | - | - |
| Liquidation Bonus | Subject to Risk Oracle | - | - | - | - |
PT-eUSDe USDe E-mode(id:14)
| Asset | PT-eUSDe | eUSDe | USDe |
|---|---|---|---|
| Collateral | Yes | Yes | No |
| Borrowable | No | No | Yes |
| LTV | Subject to Risk Oracle | - | - |
| LT | Subject to Risk Oracle | - | - |
| Liquidation Bonus | Subject to Risk Oracle | - | - |
Initial E-mode Risk Oracle
| Parameter | Value | Value |
|---|---|---|
| E-Mode | Stablecoin | USDe |
| LTV | 87.1% | 89% |
| LT | 90.1% | 91% |
| LB | 4.1% | 3.1% |
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for PT_eUSDe_14AUG2025 and the corresponding aToken.
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot: Direct-to-AIP
- Discussion: eUSDe, PT-USDe-31JUL2025, PT-eUSDe-14AUG2025, EMODE for PT Collateral
Copyright
Copyright and related rights waived via CC0.