# Aave Risk Steward proposes v3 cap and interest-rate changes

> If implemented, Aave v3 Core USDT optimal utilization would rise from 93% to 94%; USDe base rates would rise from 6.30% to 6.60% on Core, Avalanche, Mantle, Monad, and Plasma; multiple asset caps would be reduced; and the JAAA Horizon supply cap would increase from 50 million to 60 million.

- URL: https://riadefi.com/on-chain/2026-09-28-aave-v3-risk-steward-caps-irm/
- Type: Economic change
- Stage: Proposed
- Evidence: confirmed
- Materiality: material
- Event date: 2026-09-28
- Version: 1, published 2026-09-29 (first published 2026-09-29)
- Follow-up: 2026-10-06
- Advisor-relevant: no
- Affects: Aave v3 (protocol)

## What happened

LlamaRisk published a Risk Steward package proposing supply-cap, borrow-cap, optimal-utilization, and base-rate changes across multiple Aave v3 deployments.

## What changed

If implemented, Aave v3 Core USDT optimal utilization would rise from 93% to 94%; USDe base rates would rise from 6.30% to 6.60% on Core, Avalanche, Mantle, Monad, and Plasma; multiple asset caps would be reduced; and the JAAA Horizon supply cap would increase from 50 million to 60 million.

## What did not change

The cached governance record is a recommendation and implementation notice, not proof that the parameter changes are already operative. Collateral factors and liquidation thresholds are not changed by this package.

## Confirmed

- The proposal would reduce the Aave v3 Core USDT withdrawal buffer at optimal utilization by approximately 28.9 million USDT, according to the official record.
- The proposed Aave v3 Core USDe supply cap is 700 million and borrow cap is 50 million.
- The proposal includes supply-cap reductions for wstETH, USDe, sUSDe, syrupUSDT, weETH, and syrupUSDC across named v3 deployments.
- The post states that updates are intended to be implemented through the Risk Steward process.

## Still open

- The execution transactions and exact effective time were not present in the candidate evidence.
- It is unresolved whether all proposed changes will be executed without amendment.
- The direct effect on any client-held Aave reserve depends on the reserve and deployment used.

## What it means for an advisor

- Monitor the Risk Steward execution and compare final on-chain values with the proposal.
- Review liquidity assumptions for any exposure relying on Aave v3 Core USDT or reserves receiving materially lower caps.
- Do not describe the recommended values as operative until execution is confirmed.

## Previous interpretation

The Aave v3 memo reflects the parameter surface before this September 28 Risk Steward package.

## Sources

1. [Risk Stewards: Cap and IRM Changes on Aave V3 / 2026.09.28](https://governance.aave.com/t/risk-stewards-cap-and-irm-changes-on-aave-v3-2026-09-28/25718) · Aave governance forum · 2026-09-28


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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.