CoinsAQ summary · neutral
Aave’s proposed interest rate hike threatens to crush Ethena’s most popular yield loop

What happened
The proposed curve change adds 13 to 89 basis points across a $323.8 million debt snapshot for USDe positions. LlamaRisk has proposed increasing borrowing costs for Ethena’s USDe across five Aave V3 markets, tightening the economics for positions that borrow the stablecoin and.
Related asset context
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