# Aave opens final governance for ezETH collateral on Ethereum Core

> If executed, ezETH would become non-borrowable collateral with a 50,000-token supply cap and separate wstETH and stablecoin e-modes, including high correlated-mode leverage parameters.

- URL: https://riadefi.com/on-chain/2025-08-12-aave-v3-ethereum-core-ezeth-onboarding-aip/
- Type: Governance
- Stage: Proposed
- Evidence: confirmed
- Materiality: watch
- Event date: 2025-08-12
- Version: 1, published 2026-08-22 (first published 2026-08-22)
- Follow-up: 2025-08-19
- Advisor-relevant: no
- Affects: Aave v3 (protocol)

## What happened

Aave opened an on-chain proposal to add ezETH as collateral to the Ethereum Core instance.

## What changed

If executed, ezETH would become non-borrowable collateral with a 50,000-token supply cap and separate wstETH and stablecoin e-modes, including high correlated-mode leverage parameters.

## What did not change

The reviewed record does not itself confirm execution or establish that ezETH was live in Ethereum Core on August 12.

## Confirmed

- The proposed ezETH contract is 0xbf5495efe5db9ce00f80364c8b423567e58d2110.
- The proposed supply cap is 50,000 ezETH and borrowing is disabled.
- The ezETH/wstETH e-mode proposes 93% LTV and a 95% liquidation threshold.
- The ezETH/stablecoin e-mode proposes 75% LTV and a 78% liquidation threshold.

## Still open

- Final vote outcome and execution timing require operative on-chain confirmation.
- Final live oracle, e-mode, cap, and reserve configuration require reconciliation after execution.
- Liquidity concentration and Renzo withdrawal-buffer availability remain material diligence items.

## What it means for an advisor

- Monitor final execution before treating ezETH as Ethereum Core collateral.
- Review the leverage, depeg, liquidation-liquidity, Renzo administration, timelock, and withdrawal dependencies introduced by the listing.
- Do not infer safety or client approval from the proposed risk parameters.

## Sources

1. [[Direct-to-AIP] Add ezETH to Aave v3 Core Instance](https://governance.aave.com/t/direct-to-aip-add-ezeth-to-aave-v3-core-instance/22732) · Aave DAO · 2025-07-29
2. [Proposal 355](https://app.aave.com/governance/v3/proposal/?proposalId=355) · Aave Governance · 2025-08-12


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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.