
Aave’s proposed interest rate hike threatens to crush Ethena’s most popular yield loop
The proposed curve change adds 13 to 89 basis points across a $323.8 million debt snapshot for USDe positions.
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Bitcoin can serve as collateral for a loan without being sold, but moving its value into blockchain lending markets introduces risks that owning BTC alone doesn't carry.

Anthias projects lower monthly debt accrual under unchanged market conditions, while reserve transfers and supplier cash access remain unverified.

With the same reserve and cover rates, one modeled default leaves 90,000 tokens of vault loss; ten smaller loans leave 4,500.

HIP-3* adds venue-scoped controls without changing existing permissionless markets.

Good Entry, Limitless and APX Finance could face separate off-chain ban votes, but the combined figure is not one repayable balance.

The proposal would grant bounded emergency roles now, but the current Risk Steward release cannot invoke their one-way safety calls.



