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Rising Aave borrow rates threaten to flip Ethena’s USDe yield loops into negative carry

CryptoSlate Published 11.09.2026 06:40

LlamaRisk has proposed increasing borrowing costs for Ethena’s USDe across five Aave V3 markets, tightening the economics for positions that borrow the stablecoin and recycle it into yield-bearing sUSDe. The…

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