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Sharpe FinanceDID YOU KNOWnext in 7s
Most depeg events happen on weekends. Market makers don't sleep — they just close their books.
Morpho Blue · Aave V3 · 11 chains · scoring refreshed every 5 min
Most depeg events happen on weekends. Market makers don't sleep — they just close their books.
PT-srUSDe-25JUN2026 supply on Aave V3 (Ethereum). Read-only on Sharpe — deposits, withdrawals, and borrows execute on app.aave.com. We surface parameters, rates, and risk so you can compare this reserve against Morpho vaults on the same asset cohort.
Plain-English summary of this vault — what it does, who runs it, where the yield comes from, and what could break it. Generated from the same deterministic inputs shown elsewhere on this page; the numbers are the source, this is just the explanation.
You deposit PT-srUSDe-25JUN2026, a principal-protected token expiring June 2026, and it gets lent out to borrowers. You are not eligible to use this as collateral — it's borrow-only. Your deposit earns the variable supply rate, which is currently 0.00% because borrow demand is zero. You can redeem at the $7.5k available liquidity; the supply cap is already full.
Aave governance has marked this reserve borrow-only, signaling restricted use and low priority for collateral mechanics. No active flags (paused/frozen) are set, but the supply cap is at 100% utilization.
Supply APY is 0.00% because no one is borrowing. The borrow rate is also 0.00%, so even at positive utilization, the formula (borrow APY × utilization × (1 − reserve factor)) yields nothing. Any borrowing yield will be recalculated in real time; Aave takes 45% as reserve factor.
Supply cap is fully consumed at $7.5k; new deposits will revert. The 19/100 risk score reflects structural constraints. Principal protection expires June 2026—after that date, this asset may have no clear redemption path.
Avoid unless you specifically need to borrow against a small, capped principal-protected position. Supply side offers no yield and hits the cap immediately.
On Aave V3, a supplier can withdraw up to the reserve's available liquidity instantly. Above that, the withdrawal must wait for borrowers to repay or new suppliers to deposit. Markets at 95%+ utilization can keep large redemptions waiting for hours to days at current rates.
Reserve parameters are set by Aave governance (BGD Labs + Aave Chan Initiative + Risk Council). Listings, caps, IRM curves, and LLTVs change through on-chain votes.
This reserve isn't usable as collateral, so LTV / Liquidation LLTV / liquidation bonus don't apply. Borrowers can take it against other collateral; suppliers earn the variable rate driven by borrow demand.
On Aave V3, supply APY = borrow APY × utilization × (1 − reserve factor). There is no curator skim; the only intermediation cost is the reserve factor, which funds the Aave treasury. No emissions slice in v1 of this integration — the headline is fully sustainable.
Aave V3 reserves carry parameter risk (LTV/LLTV adequacy vs collateral volatility), liquidity risk (high utilization slows exit), and depeg risk on the underlying. Governance can pause / freeze / adjust caps in response to incidents. Sharpe's full risk decomposition for Aave reserves rolls in v1.1.
How the composite risk score breaks down. Every number traces to an explicit input — /methodology documents each factor's formula.
Per-collateral decomposition: Sharpe-style realized σ from 30 daily log returns, blended 50/50 with the asset-taxonomy tier fallback. Phase 2 will replace the tier slot with liquidity depth, mechanism classification, and holder concentration. Methodology in /methodology.
The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.
Supply cap is 100% filled. New deposits revert once the cap binds; cap raises require an on-chain governance vote.
Aave V3 prices and liquidations route through Chainlink's aggregator feed for this asset. A stale, manipulated, or wrong-side update is the protocol's largest single-point-of-failure for this reserve. Chainlink has a strong track record but the failure mode is binary.