Loading
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-5FEB2026 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-5FEB2026, a tokenized yield position maturing 5 February 2026, and it sits in the reserve earning 0.00% APY because currently no one is borrowing against it. Your deposit is redeemable at full value if liquidity is available — but the reserve is already at its supply cap ($164.81), so new deposits will be rejected. This asset is enabled as collateral, but with 0% LTV, it cannot be used to borrow; it serves only as a holder of the underlying position until maturity.
Aave Risk Council and BGD Labs manage this reserve; the 0% LTV reflects governance's choice to treat it as a maturity-gated position unsuitable for leverage.
No yield accrues because utilization is 0%—no borrowers. Supply APY is mechanically borrow rate × utilization × (1 − 0.45 reserve factor); with zero borrow demand, that chain breaks.
Supply cap is fully consumed; deposits revert immediately. This signals the reserve is closed to new inflows despite low utilization, likely because the underlying position's liquidity or risk profile constrains Aave's appetite.
Avoid if you want to enter now—cap is full. Only relevant if you already hold PT-sUSDE-5FEB2026 and want to redeem it via Aave after maturity.
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.
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.