Aave Tracker

Aave V4 Ethena Ecosystem spoke on Ethereum

A spoke is where people supply and borrow on Aave V4, much like a market on V3. This one runs on Ethereum and lists 10 assets. Click an asset for its history, rate curve and risk settings.

Data from Aave's V4 API · updated

Total supplied

$40.48M

 

Total borrowed

$27.61M

68.2% of supply

Assets

10

7 can be borrowed

Liquidation target

1.03

health factor a liquidation aims to restore

Assets on the Aave V4 Ethena Ecosystem spoke
Asset Total supplied Supply APY Total borrowed Borrow APY Utilization
USDeUSDe$29.68M supplied $29.68M29.71M USDe <0.01% $7.9K7.89K USDe 7.25%base rate 0.0%
USDt (Plus hub)Tether USD$4.33M supplied $4.33M4.33M USDt 3.73% $3.98M3.99M USDt 4.80%base rate 91.9%
sUSDeStaked USDe$3.42M supplied $3.42M2.73M sUSDe 0.00% $00 sUSDe not borrowable– 0.0%
USDC (Plus hub)USD Coin$3.00M supplied $3.00M3.00M USDC 3.16% $2.54M2.54M USDC 4.42%base rate 84.8%
GHOGHO$50.9K supplied $50.9K50.88K GHO 3.60% $45.1K45.12K GHO 4.53%base rate 88.7%
frxUSDFrax USD$0 supplied $00 frxUSD 2.69% $15.01M15.01M frxUSD 3.91%base rate 86.5%
PT USDePT USDe (May 2026)$0 supplied $00 PT USDe 0.00% $00 PT USDe not borrowable– 0.0%
PT sUSDePT sUSDe (May 2026)$0 supplied $00 PT sUSDe 0.00% $00 PT sUSDe not borrowable– 0.0%
USDt (Core hub)Tether USD$0 supplied $00 USDt 3.72% $3.01M3.01M USDt 4.56%base rate 91.2%
USDC (Core hub)USD Coin$0 supplied $00 USDC 4.59% $3.01M3.01M USDC 5.61%base rate 91.4%

About the Ethena Ecosystem spoke

The Ethena Ecosystem spoke runs on Ethereum and lists 10 assets: 7 can be borrowed and 4 can back loans. It draws its liquidity from 2 hubs. By deposits it is the 10th largest of the 24 Aave V4 spokes. $40.48M is supplied and $27.61M borrowed, so 68.2% of deposits are lent out.

The largest pools are USDe ($29.68M), USDt (Plus hub, $4.33M) and sUSDe ($3.42M). Borrowers mostly take frxUSD ($15.01M), USDt (Plus hub, $3.98M) and USDt (Core hub, $3.01M). Stablecoins make up 100% of all borrowing here, which is typical: most people use Aave to borrow dollars against crypto they want to keep.

When a loan here falls below a health factor of 1, a liquidation repays just enough to bring it back to 1.03, rather than a fixed share of the debt. See Aave V4 explained and the V4 overview.

Aave V4 Ethena Ecosystem spoke: quick answers

How big is the Aave V4 Ethena Ecosystem spoke?

$40.48M is supplied and $27.61M borrowed across 10 assets on Ethereum. The largest are USDe ($29.68M), frxUSD ($15.01M) and USDt (Plus hub, $4.33M).

What is the best supply rate on the Aave V4 Ethena Ecosystem spoke?

USDt (Plus hub) pays 3.73%, the highest among assets with at least $1M supplied.

What is the cheapest asset to borrow on the Aave V4 Ethena Ecosystem spoke?

USDC (Plus hub) at a 4.42% base rate, among assets with at least $250K available. A borrower's risk premium comes on top.

Draws liquidity from: Plus hub, Core hub. Spoke contract: 0xba1B…08AF