# Aave Risk Stewards propose V3 reserve-cap and USDe interest-rate changes

> A concrete Risk Steward implementation plan now specifies proposed cap levels and interest-rate-curve changes. If executed, the changes would alter capacity for new supply and borrowing and modestly reduce below-kink USDe borrowing rates on three deployments.

- URL: https://riadefi.com/on-chain/2026-09-15-aave-v3-risk-steward-cap-irm/
- Type: Economic change
- Stage: Proposed
- Evidence: confirmed
- Materiality: watch
- Event date: 2026-09-15
- Version: 1, published 2026-09-15 (first published 2026-09-15)
- Follow-up: 2026-09-18
- Advisor-relevant: no
- Affects: Aave v3 (protocol)

## What happened

LlamaRisk published a Risk Steward specification proposing supply-cap changes for eleven Aave V3 reserves, borrow-cap reductions for USDe on Plasma and WETH on Monad and Base, and lower USDe Slope1 parameters on Plasma, Monad, and Mantle.

## What changed

A concrete Risk Steward implementation plan now specifies proposed cap levels and interest-rate-curve changes. If executed, the changes would alter capacity for new supply and borrowing and modestly reduce below-kink USDe borrowing rates on three deployments.

## What did not change

The cached record does not provide executed transaction hashes or independently verify that any parameter is already operative. It does not change liquidation thresholds, loan-to-value settings, optimal utilization, Slope2, or existing account balances, and the proposed reduced caps remain above reported outstanding amounts.

## Confirmed

- The proposed Aave V3 Core supply caps are 1,500,000 weETH, 250,000,000 sUSDe, and 10,000,000 PT-srUSDe-22OCT2026.
- The proposal changes Plasma supply caps for syrupUSDT, PT-sUSDE-22OCT2026, and USDe, and reduces the Plasma USDe borrow cap from 335,000,000 to 100,000,000.
- The proposal reduces WETH supply and borrow caps on Monad and Base and reduces the Base cbETH supply cap to 50,000.
- The proposal reduces USDe Slope1 from 1.00% to 0.25% on Plasma, Monad, and Mantle while leaving optimal utilization and Slope2 unchanged.
- The author states that implementation will proceed through the Risk Steward process.

## Still open

- Whether and when each specified change will execute on-chain.
- Whether implementation will exactly match the published specification.
- Whether any approved or client-held position relies on capacity near the proposed caps or on the affected USDe borrowing curves.

## What it means for an advisor

- Monitor the Risk Steward execution record and verify final on-chain parameters before updating diligence conclusions.
- Review approved or held Aave V3 positions for exposure to the affected reserves, especially capacity assumptions involving Core sUSDe, Base WETH or cbETH, Plasma USDe, and the October 2026 Pendle assets.
- Do not treat the proposed cap reductions as forced deleveraging: the primary record reports proposed caps above current outstanding supply or borrowing.

## Sources

1. [Risk Stewards: Cap and IRM Changes on Aave V3 / 2026.09.15](https://governance.aave.com/t/risk-stewards-cap-and-irm-changes-on-aave-v3-2026-09-15/25641) · Aave Risk Stewards / LlamaRisk · 2026-09-15


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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.