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BREAKING01:34 AM
Fluid Co-founder Admits Vaults Rehypothecate Collateral and Are Not Fully Isolated↗
Alert01:34

Fluid Co-founder Admits Vaults Rehypothecate Collateral and Are Not Fully Isolated

Alert01:06

Lighter Spot Goes Live with ETH: Launch Details & Incentives

Gov01:05

X Terminates EU Commission Ad Account Citing Reach Manipulation

Alert00:54

Jupiter COO Admits 'Zero Contagion Risk' Marketing Was Inaccurate

Alert00:21

Whale Fat-Fingers $2M HYPE Sell Order, Triggering 2.6% Flash Crash

Crypto00:06

Spot XRP and Solana ETFs See Sustained Inflows; SOL Products Hit $638M Cumulative

Macro00:05

US Home Delistings Surge 28% to Highest September Level Since 2017

Crypto23:06

Paxos' Stablecoins (USDG & PYUSD) See Rapid Growth and Lead Major Market Cap Segment

Alert22:06

Justin Sun Alleges $500M Techteryx Fraud Scheme Involving FDT, Legacy Trust, and Vincent Chok

Crypto22:06

Aztec Network Concludes First CCA on Uniswap with $59M Committed; Settlement 59% Above Floor

Alert22:06

Kevin Hassett reportedly poised to be next Fed Chair; predicts rate cut

Macro22:06

US Market Share Volume Hits Record Highs Amid Retail Boom

Crypto22:06

Centrifuge Records $1.3 Billion Inflows with Sky Ecosystem Allocation

Crypto22:06

Rayls Labs Secures $1B Tokenized Credit Commitment for 2026 Mainnet

Crypto22:06

Base Network TVL Nears ATH as Armstrong Teases December 17 Update

Summary22:00

24H Summary: Hyperliquid Integrates Native USDC & French Bank BPCE Enters Crypto

Summary21:15

6 Hour Summary: Jupiter Retracts 'Zero Risk' Claims & Hyperliquid Lists SOL Ticker

Gov21:06

Poland Becomes Sole EU MiCA Holdout After Parliament Fails to Overturn Veto

Crypto21:06

CZ Emphasizes Strict Private Key Isolation for Hardware Wallets

Macro21:06

US Small Business Bankruptcies Surge to Records as Inflation Persists

 
Alert

Aave Limits Spark's USDS Collateral Usage Citing Low Revenue Share

12/04/2025, 02:34
12/05/2025, 04:07
AI SUMMARY
●Aave restricts Spark's $11.2B TVL from using USDS collateral following a governance vote setting LTV to 0%.
●The decision stems from a dispute over low revenue share ($1.7M) and allegations of fee routing through Morpho.
●Risk Reserve Factor for USDS and DAI has been increased to 25% amidst these economic tensions.
The Aave community has successfully passed a governance proposal to remove USDS and DAI from collateral eligibility on Aave V3 instances. The approved changes set the Loan-to-Value (LTV) ratio for both assets to 0% and increase the Risk Reserve Factor to 25%. According to the proposal, these adjustments were driven by concerns over USDS profitability and asymmetric issuance risks. The decision highlights growing tensions regarding protocol economics and revenue sharing models within the DeFi ecosystem. [Update 1] Leading DeFi protocol Aave has reportedly restricted Spark's $11.2 billion TVL from using USDS as collateral, effectively implementing the governance decision. Market observers note that the primary driver was a dispute over revenue sharing: Spark had delivered approximately $1.7 million in revenue share to the Aave DAO, a figure deemed insufficient relative to its volume. The conflict has sparked discussions regarding protocol economics, with allegations that Spark routed fees through Morpho to circumvent payments to Aave.

Sources (2)

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