Aave Risk Steward proposes USDT utilization, JAAA cap, and GHO rate changes

What happened

An Aave-funded Risk Steward published proposed parameter changes for Aave V3 Core and Horizon and stated that it would proceed through the steward implementation process.

What changed

A concrete proposal now exists to lower Core USDT optimal utilization from 94% to 93%, raise the Horizon JAAA supply cap from 40 million to 50 million, and raise the Horizon GHO base rate from 3% to 3.25%.

What did not change

The cached record does not establish that any parameter has been executed on-chain. USDT base rate, Slope1, and Slope2 are expressly unchanged by the proposal, and no protocol approval status or client restriction changed.

Confirmed

• The proposed Core USDT optimalUsageRatio is 93%, down from 94%.
• The proposed Horizon JAAA supply cap is 50 million, up from 40 million.
• The proposed Horizon GHO base rate is 3.25%, up from 3%.
• The record says the changes will be implemented through the Risk Steward process but does not supply an executed transaction.

Still open

• Whether and when each proposed parameter change is executed on-chain.
• The final on-chain payloads and effective block numbers.
• Whether prevailing utilization or position concentration changes before execution.

What it means for an advisor

• Monitor execution because the USDT change would increase the modeled withdrawal buffer at optimal utilization while reducing borrow headroom before Slope2.
• Review Horizon exposure assumptions if relevant because the JAAA cap would permit additional concentrated collateral supply and the GHO base-rate change would alter borrowing economics.
• Do not treat the proposal as an operative parameter change until execution is verified.

Previous interpretation

Aave V3 economic parameters remained governed by existing deployed settings; no execution of these three changes had been established.