Summary
LlamaRisk recommends the following parameter changes based on user behavior, on-chain liquidity, and position health observed in the latest review of Aave V3 reserves.
Aave V3 Mantle:
- Increase supply cap for sUSDe from 122,000,000 to 158,600,000.
Aave V3 X Layer:
- Increase borrow cap for xSOL from 17,100 to 34,200.
sUSDe (Aave V3 Mantle)
sUSDe has reached 97.9% supply cap utilization (119,440,026 / 122,000,000) on the Aave V3 Mantle instance.
Supply Distribution
Source: LlamaRisk, June 19, 2026
The top sUSDe suppliers have a median health factor of 1.02 on V3 Mantle. Borrowing is concentrated in USDT0 at $119M (90.2% of total debt), followed by USDC and GHO, against sUSDe collateral, with most positions utilizing the Stablecoin E-Mode category (90% LTV, 92% LT).
Recommendation
We recommend raising the supply cap from 122,000,000 to 158,600,000 on Aave V3 Mantle. The reserve sits at 97.9% supply cap utilization, and the proposed cap brings post-change utilization to approximately 75.3% at current supply.
xSOL (Aave V3 X Layer)
xSOL has reached 100.0% borrow cap utilization (17,092 / 17,100) on the Aave V3 X Layer instance.
Borrow Distribution
Source: LlamaRisk, June 19, 2026
The top xSOL borrowers have a median health factor of 1.44. Borrowing activity is predominantly concentrated in xSOL debt backed by USD₮0 collateral, with some positions utilizing a mix of other collateral assets whose oracle prices are not correlated with xSOL.
Recommendation
We recommend raising the borrow cap from 17,100 to 34,200 on Aave V3 X Layer. The reserve is fully utilized against its current borrow cap, and the proposed cap brings post-change borrow utilization to approximately 50% at current outstanding borrow.
Specification
| Instance | Asset | Current Supply Cap | Recommended Supply Cap | Current Borrow Cap | Recommended Borrow Cap |
|---|---|---|---|---|---|
| Aave V3 Mantle | sUSDe | 122,000,000 | 158,600,000 | - | — |
| Aave V3 X Layer | xSOL | 110,000 | - | 17,100 | 34,200 |
Next Steps
We will move forward and implement these updates via the Risk Steward process.
Disclosure
This review was independently prepared by LlamaRisk, a DeFi risk service provider funded in part by the Aave DAO. LlamaRisk is not directly affiliated with the protocol(s) reviewed in this assessment and did not receive any compensation from the protocol(s) or their affiliated entities for this work.
The information provided should not be construed as legal, financial, tax, or professional advice.