wstETH on Aave Ethereum Prime

Wrapped liquid staked Ether 2.0 (wstETH) is listed on the Aave V3 Ethereum Prime market on Ethereum. Lenders have supplied $121.0M (43.37K wstETH) and borrowers owe $39.23M, so 32.4% of the pool is lent out. Borrowing wstETH is switched off here, so existing loans can only be repaid. The supply cap is 79% used.

Suppliers earn 0.06% a year, and variable-rate borrowers pay 0.20%. The rate follows utilization: up to 90% the borrow rate rises gently from 0.00% to 0.55%, and above that it climbs steeply to 40.55% when everything is lent out. At 32.4% now, the pool is below that point. Aave keeps 5% of the interest as its reserve factor.

wstETH counts as collateral here: you can borrow up to 82% of its value, and a loan is liquidated once it reaches 83%, with a 6.0% penalty. In E-Mode it can back loans of up to 95%. The best WSTETH supply rate elsewhere on Aave is <0.01% on Optimism. Compare WSTETH rates on every Aave market.

Among the 10 Aave markets with at least $1M of WSTETH supplied, this one pays the highest supply rate. A week ago suppliers earned 0.06% and borrowers paid 0.20%, with 32.3% of the pool lent out. Over the past 30 days, the supply rate ranged from 0.03% to 0.06%, and the borrow rate from 0.15% to 0.20% (one reading a day).