Overview
- Aave launched the Equities Hub on Base that accepts seven Coinbase tokenized stocks—Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla—as collateral-only for USDC loans.
- The market went live on Sept. 25 with per-asset collateral factors and hard caps set by Aave and its risk steward LlamaRisk, including a $32 million USDC supply cap, a $21 million USDC borrow cap, and roughly $29 million in combined stock collateral capacity.
- Coinbase issues the tokens through an Abu Dhabi SPV with underlying shares held in segregated custody by Alpaca Securities and dividends and corporate actions handled via an onchain multiplier that makes the tokens total-return instruments.
- Prices for the tokenized stocks are fed by Chainlink on a 24/5 schedule that holds the last published price over weekends and U.S. market holidays, a feature that can create reopening price-gap and corporate-action risks for always-on lending positions.
- Aave’s rollout remains governed by formal DAO steps and risk reviews with plans to consider more tokenized stocks and additional borrowable assets later, and the announcement coincided with a near-term uptick in AAVE market price.