Onboard USDe November expiry PT tokens on Aave V3 Core Instance
Onboard USDe November expiry PT tokens on Aave V3 Core Instance
Author
Aave-Chan Initiative
Creator
0x57ab7ee15cE5ECacB1aB84EE42D5A9d0d8112922
Simple Summary
This AIP proposes to onboard USDe November expiry PT tokens on Aave V3 Core Instance.
Motivation
We propose onboarding the 27th November 2025 expiry USDe PT token after successful July and September onboardings. The addition of the November expiry of the same will maintain this TVL and associated revenue by making it easy for users to migrate to the updated expiry and keep Aave as the leading venue for PT collateral. We expect the majority, if not all of the September expiry USDe PT deposits to migrate to the November expiry once onboarded.
Specification
The table below illustrates the configured risk parameters for PT_USDe_27NOV2025
| Parameter | Value |
|---|---|
| Isolation Mode | false |
| Borrowable | DISABLED |
| Collateral Enabled | true |
| Supply Cap (PT_USDe_27NOV2025) | 50,000,000 |
| Borrow Cap (PT_USDe_27NOV2025) | 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 27NOV2025 |
| Underlying Oracle | Capped USDT/USD |
| Underlying Oracle | Chainlink USDT/USD |
| Oracle Latest Answer | (2025-08-25) USD .97807106 |
| discountRatePerYear | 9.51% |
| maxDiscountRatePerYear | 28.90% |
PT-USDE Stablecoins E-mode
| Asset | PT-USDe-27NOV2025 | PT-USDe-25SEP2025 | USDC | USDT | USDS | USDe | USDtb |
|---|---|---|---|---|---|---|---|
| Collateral | Yes | Yes | No | No | No | No | No |
| Borrowable | No | No | Yes | Yes | Yes | Yes | Yes |
| LTV | 87.8% | - | - | - | - | - | - |
| LT | 89.8% | - | - | - | - | - | - |
| Liquidation Bonus | 4.2% | - | - | - | - | - | - |
PT-USDE USDe E-mode
| Asset | PT-USDe-27NOV2025 | PT-USDe-25SEP2025 | USDe |
|---|---|---|---|
| Collateral | Yes | Yes | No |
| Borrowable | No | No | Yes |
| LTV | 88.6% | - | - |
| LT | 90.6% | - | - |
| Liquidation Bonus | 3.2% | - | - |
The LTV, LT and LB of the previous emode will be managed by the Edge Risk Oracle.
Additionally 0xac140648435d03f784879cd789130F22Ef588Fcd has been set as the emission admin for PT_USDe_27NOV2025 and the corresponding aToken.
References
- Implementation: AaveV3Ethereum
- Tests: AaveV3Ethereum
- Snapshot: Direct-to-AIP
- Discussion
Copyright
Copyright and related rights waived via CC0.