# Aave Labs proposed PAXGy collateral for the Aave v4 Global Dollar Hub

> The proposed collateral would include exposure to institutional gold lending.

- URL: https://riadefi.com/on-chain/2026-08-18-aave-v4-paxgy-onboarding-25499/
- Type: Governance
- Stage: Proposed
- Evidence: confirmed
- Materiality: watch
- Event date: 2026-08-18
- Version: 1, published 2026-10-13 (first published 2026-10-13)
- Follow-up: 2026-10-20
- Advisor-relevant: no
- Affects: Aave v4 (protocol)

## What happened

Aave Labs proposed adding PAXGy, a gold-yield vault share, to the Ethereum Global Dollar Hub in Aave v4.

## What changed

The proposed collateral would include exposure to institutional gold lending.

## What did not change

Ketju has found no approved configuration and no executed listing. Ketju does not approve Aave v4.

## Confirmed

- The ARFC leaves the final configuration to risk service providers.
- The ARFC calls for confirmation off-chain, followed by execution by the Security Council.

## Still open

- The token address in the original proposal differs from the deployment address in the assessment.
- The final Spokes, caps, oracle behavior, live liquidity and execution need checking against primary sources.
- Researchers report borrower concentration and limits on redemption, and Ketju has not verified those reports.

## What it means for an advisor

- Ketju will record the exact Hub and Spokes in its Aave v4 file and reconcile the addresses and loss limits before it reviews v4 again.

## Sources

1. [[ARFC] Onboard PAXGy to Aave V4 Global Dollar Hub](https://governance.aave.com/t/arfc-onboard-paxgy-to-aave-v4-global-dollar-hub/25499) · Aave governance; Aave Labs · 2026-08-18


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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.