Aave V4 · Ethereum

USDT (Plus)

Overview

The Aave V4 USDT pool on Ethereum is a single-asset lending position where suppliers earn variable interest on stablecoin deposits. Aave routes borrowing demand against pooled USDT liquidity and pays suppliers from the resulting interest spread. The pool stands as one of several venues for this asset on Ethereum, competing with other protocols for user funds.

Total APY of 16.62% comes from base lending alone, with no additional incentive layer. Over the past seven days, the trend is flat at +0.01%, and over the past thirty days, it has increased by 2.26%. The current rate sits above the 30-day mean of 15.23%, indicating expanding yield for suppliers.

TVL stands at $40K with a slight increase from the previous week. Given its modest size, any change in TVL is relatively significant compared to the absolute amount. Primary exposure here is depeg risk on the underlying stablecoin USDT. Utilisation rates sit within typical ranges for this type of lending pool, ensuring that supply-side interest rates remain responsive to borrower demand fluctuations.

Composed 2026-05-22 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 1.05%; 30-day mean is 0.33%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 64% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.