# Aave approves eUSDe and two dated PT collaterals for Ethereum Core

> The earlier eUSDe ARFC approval advanced to on-chain authorization and expanded to two dated principal-token collaterals using capped, maturity-aware oracles and E-modes.

- URL: https://riadefi.com/on-chain/2025-04-27-aave-v3-ethereum-core-eusde-collateral-arfc-approval/
- Type: Economic change
- Stage: Approved, not executed
- Evidence: confirmed
- Materiality: material
- Event date: 2025-05-26
- Version: 2, published 2026-08-22 (first published 2026-08-22)
- Follow-up: 2025-06-02
- Advisor-relevant: no
- Affects: Aave v3 (protocol)

## What happened

Aave governance approved a payload covering eUSDe, PT-USDe-31JUL2025, and PT-eUSDe-14AUG2025 collateral configurations.

## What changed

The earlier eUSDe ARFC approval advanced to on-chain authorization and expanded to two dated principal-token collaterals using capped, maturity-aware oracles and E-modes.

## What did not change

Execution and final reserve state were not established within May, and none of the assets became Ketju-approved.

## Confirmed

- eUSDe used a 550 million supply cap and 90%/93% stablecoin E-mode parameters.
- PT-USDe-31JUL2025 used a 40 million supply cap.
- PT-eUSDe-14AUG2025 was included in the payload.

## Still open

- Execution and final reserve, oracle, and E-mode state.
- Ethereal withdrawal, owner, backing, and concentration risks.
- PT liquidity, maturity handling, oracle behavior, and stressed liquidations.

## What it means for an advisor

- Supersede the April ARFC-stage entry with an approved-but-unverified execution posture.
- Review eUSDe and both PT assets as separate dependencies.

## Previous interpretation

The April record described eUSDe as approved only at the ARFC stage, with no on-chain authorization or dated-PT payload established.

## Sources

1. [Onboard eUSDe and eUSDe-based PT tokens to Aave V3 Core](https://app.aave.com/governance/v3/proposal/?proposalId=316) · Aave Governance · 2025-05-22


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.