WETH on Aave Base

Wrapped Ether (WETH) is listed on the Aave V3 Base market. Lenders have supplied $214.9M (96.14K WETH) and borrowers owe $175.8M, so 81.8% of the pool is lent out and $25.39M is left to borrow. The supply cap is 77% used.

Suppliers earn 1.43% a year, and variable-rate borrowers pay 2.07%. The rate follows utilization: up to 92% the borrow rate rises gently from 0.00% to 2.30%, and above that it climbs steeply to 10.30% when everything is lent out. At 81.8% now, the pool is below that point. Aave keeps 15% of the interest as its reserve factor.

WETH counts as collateral here: you can borrow up to 81% of its value, and a loan is liquidated once it reaches 84%, with a 5.0% penalty. In E-Mode it can back loans of up to 90%. The best WETH supply rate elsewhere on Aave is 1.70% on the Ethereum Main spoke (V4). The cheapest place to borrow it is Celo at 0.24%. Compare WETH rates on every Aave market.

Among the 14 Aave markets with at least $1M of WETH supplied, this one pays the 4th highest supply rate. Its borrow rate is the 11th lowest of the 14 markets with at least $250K of WETH to lend. A week ago suppliers earned 1.47% and borrowers paid 2.09%, with 82.9% of the pool lent out. Over the past 30 days, the supply rate ranged from 1.32% to 1.48%, and the borrow rate from 1.98% to 2.10% (one reading a day).