WETH on Aave MegaETH

Wrapped Ether (WETH) is listed on the Aave V3 MegaETH market. Lenders have supplied $343K (154.00 WETH) and borrowers owe $117K, so 34.3% of the pool is lent out. Borrowing WETH is switched off here, so existing loans can only be repaid. The supply cap is 3% used.

Suppliers earn 0.28% a year, and variable-rate borrowers pay 0.96%. The rate follows utilization: up to 90% the borrow rate rises gently from 0.00% to 2.50%, and above that it climbs steeply to 10.50% when everything is lent out. At 34.3% 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 81%, with a 5.5% penalty. In E-Mode it can back loans of up to 81%. 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.

A week ago suppliers earned 0.99% and borrowers paid 1.81%, with 64.6% of the pool lent out. Over the past 30 days, the supply rate ranged from 0.28% to 1.06%, and the borrow rate from 0.96% to 1.87% (one reading a day).