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Sharpe FinanceDID YOU KNOWnext in 7s
There are more EVM L2s now than there are countries in the eurozone.
Morpho Blue · Aave V3 · 11 chains · scoring refreshed every 5 min
There are more EVM L2s now than there are countries in the eurozone.
PT-sUSDE-7MAY2026 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-7MAY2026, a Pendle fixed-rate token maturing 7 May 2026, into Aave on Ethereum. Your deposit is lent out to borrowers and earns the variable borrow APY (currently 0.00%), multiplied by utilization and reduced by Aave's 45% reserve factor. This reserve cannot be used as collateral — only as a source of lending income. You can redeem at the available liquidity ($19.1k), but the supply cap is already 100% consumed.
Active and borrow-only; no pause, freeze, or isolation flags. Governance has not restricted borrowing or supplied-asset collateral mechanics.
Supply rate comes from borrower demand. At 0% utilization, no borrowers are currently using this reserve, so yield is zero. The 45% reserve factor means Aave keeps 45% of all future borrow interest; suppliers get 55%.
Supply cap is fully consumed at $19.1k — new deposits will revert until capacity increases. The asset itself (Pendle fixed-rate token) carries expiration and Pendle-protocol redemption risk; maturity is 7 May 2026. Low risk score (19/100) reflects illiquidity and niche asset profile.
Avoid unless you are certain you can exit before maturity and are comfortable with Pendle token mechanics. Better for sophisticated allocators familiar with fixed-rate yield products than general stablecoin suppliers.
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.