WETH on Aave Celo

Wrapped Ether (WETH, Celo native bridge) is listed on the Aave V3 Celo market. Lenders have supplied $1.41M (628.89 WETH) and borrowers owe $114K, so 8.1% of the pool is lent out and $1.29M is left to borrow. The supply cap is 30% used.

Suppliers earn 0.02% a year, and variable-rate borrowers pay 0.24%. The rate follows utilization: up to 90% the borrow rate rises gently from 0.00% to 2.70%, and above that it climbs steeply to 82.70% when everything is lent out. At 8.1% 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 78% of its value, and a loan is liquidated once it reaches 80%, with a 7.5% penalty. The best WETH supply rate elsewhere on Aave is 1.70% on the Ethereum Main spoke (V4). The cheapest place to borrow it is the Avalanche Main spoke (V4) at 0.27%. Compare WETH rates on every Aave market.

Among the 14 Aave markets with at least $1M of WETH supplied, this one pays the 13th highest supply rate. Its borrow rate is the lowest of the 14 markets with at least $250K of WETH to lend. A week ago suppliers earned 0.03% and borrowers paid 0.32%, with 10.7% of the pool lent out. Over the past 30 days, the supply rate ranged from 0.02% to 0.03%, and the borrow rate from 0.24% to 0.33% (one reading a day).