Aave’s New Market Accepts Coinbase Stock Tokens as USDC Collateral
- Aave’s Base market began accepting seven Coinbase stock tokens as collateral for USDC loans on Sept. 25.
- The Mag-7 lending spoke has a $21 million USDC draw cap, limiting borrowing capacity.
- Collateral tokens include AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, and TSLAc with collateral factors ranging from 65% to 79%.
- USDC is the only asset available for borrowing in this dedicated hub.
- LlamaRisk warns that price-driven declines during weekend closures may lead to bad debt if liquidators cannot recover sufficient value from seized tokens.
The Aave market remains operational while its equity feed holds Friday’s prices until Sunday evening, exposing lenders to potential risks during this period of illiquidity.
With a $21 million draw cap and specific collateral factors in place, Aave’s new lending structure could significantly impact USDC suppliers if liquidation thresholds are crossed during price gaps over weekends.(Source)
