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 Plasma:
- Increase supply cap for sUSDe from 300,000,000 to 450,000,000.
sUSDe (Aave V3 Plasma)
sUSDe has reached 100.0% supply cap utilization (299,996,148 / 300,000,000) on the Aave V3 Plasma instance.
Supply Distribution
Source: LlamaRisk, June 18, 2026
This supply cap increase will help accommodate the users who need to deposit into sUSDe while rotating from the PT-sUSDe June 18 maturity to the new PT maturity being onboarded into Aave V3 Plasma. The top sUSDe suppliers on Plasma have a median health factor of 1.02. Borrowing is concentrated in USDT0 at $201M (75.3% of debt), followed by USDe at $65M (24.3%), with positions primarily utilizing the correlated stablecoin E-Mode (92% LT).
Recommendation
We recommend raising the supply cap from 300,000,000 to 450,000,000 on Aave V3 Plasma. The reserve is at full supply cap utilization (299,996,148 / 300,000,000), and the proposed cap is approximately 1.5x current outstanding supply, landing at approximately 66.7% post-change utilization. The supplier base supplies sUSDe as E-Mode collateral against stablecoin debt, and borrowing on the reserve is disabled, so the borrow cap is unchanged.
Specification
| Instance | Asset | Current Supply Cap | Recommended Supply Cap |
|---|---|---|---|
| Aave V3 Plasma | sUSDe | 300,000,000 | 450,000,000 |
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.