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Sharpe FinanceDID YOU KNOWnext in 7s
On most chains, more than half the gas burned this year was paid by bots.
Morpho Blue · Aave V3 · 11 chains · scoring refreshed every 5 min
On most chains, more than half the gas burned this year was paid by bots.
PT-sUSDE-25SEP2025 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-sUSDE-25SEP2025, a Pendle fixed-yield token maturing 25 September 2025, and it gets lent out to borrowers on Ethereum. Because this is borrow-only, you cannot use it as collateral in Aave; your deposit is purely a lending position. You earn the variable supply rate, which is currently 0.00% because utilization is 0%—no one is borrowing against this reserve yet. Your deposit is redeemable at the $1.1k available liquidity.
Aave governance has not flagged this reserve with pause, freeze, isolation, or silo status; it is active and accepting deposits, though the supply cap is 100% consumed.
The supply APY is 0.00% because utilization is 0%. Supply rates come from borrow demand (borrow APY × utilization × (1 − 10% reserve factor)); at 0% utilization, there is no borrow demand and no yield to distribute.
The supply cap is nearly full, so new deposits may revert; this creates liquidity risk for entry. The token is a Pendle fixed-yield instrument with a defined maturity, introducing roll-over and redemption timing risk at the 25 September 2025 expiry.
Avoid unless you specifically need Pendle token exposure and accept zero current yield and entry friction from the full supply cap.
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.