Aave launched on Sept. 25 on Base a dedicated hub for equity-backed loans, allowing borrowers to draw USDC against seven Coinbase-listed stock tokens (AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, TSLAc). The market carries a $21 million USDC borrowing cap, with collateral factors ranging from 65% to 79%. Its price feeds freeze from Friday evening to Sunday evening while the protocol remains open for borrowing and liquidations, exposing opt-in USDC lenders to potential bad debt if the reopening gap exceeds modeled buffers. LlamaRisk, which recommended the initial parameters, acknowledges its historical record cannot capture declines rarer than those it contains. Opt-in USDC suppliers constitute the creditor group exposed to that potential shortfall.
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