The supply cap was raised, which sounds like Aave is loosening its risk controls. Don’t just focus on the cap that went up.
At 23:42 Beijing time on November 13, Aave risk manager LlamaRisk posted on the official governance forum that the cap for Coinbase-wrapped Bitcoin, cbBTC, in Ethereum’s Core market was nearly full, and recommended raising it from 20,000 to 22,500 tokens. The same proposal also planned to lower caps for weETH, WBTC, and some stablecoins on Mantle. They stated that the changes would be made directly through the Risk Steward process, without waiting for a full community vote. Public data shows the new cbBTC cap of 22,500 is already in effect, with about 20,700 tokens supplied; the reduction for weETH is also visible, though not every change has been completed yet.
Some people read the cap increase as the protocol taking on more leverage. What matters more is that the direction isn’t one-sided: making more room for an asset that’s nearly at its limit while also preparing to trim unused capacity. This is being carried out directly by the risk team, not following a recent community vote.
From Sunday to Monday, watch how much room remains under the new cap. If it quickly fills up again and is raised once more, or if concentrated collateral and low-health-factor positions get liquidated amid Bitcoin volatility, then the interpretation that this change represents looser risk controls won’t hold up.
$AAVE
#AAVE #Aave #加密货币
At 23:42 Beijing time on November 13, Aave risk manager LlamaRisk posted on the official governance forum that the cap for Coinbase-wrapped Bitcoin, cbBTC, in Ethereum’s Core market was nearly full, and recommended raising it from 20,000 to 22,500 tokens. The same proposal also planned to lower caps for weETH, WBTC, and some stablecoins on Mantle. They stated that the changes would be made directly through the Risk Steward process, without waiting for a full community vote. Public data shows the new cbBTC cap of 22,500 is already in effect, with about 20,700 tokens supplied; the reduction for weETH is also visible, though not every change has been completed yet.
Some people read the cap increase as the protocol taking on more leverage. What matters more is that the direction isn’t one-sided: making more room for an asset that’s nearly at its limit while also preparing to trim unused capacity. This is being carried out directly by the risk team, not following a recent community vote.
From Sunday to Monday, watch how much room remains under the new cap. If it quickly fills up again and is raised once more, or if concentrated collateral and low-health-factor positions get liquidated amid Bitcoin volatility, then the interpretation that this change represents looser risk controls won’t hold up.
$AAVE
#AAVE #Aave #加密货币
