Aave lists December AUSD principal token on Monad with 93% borrowing limit

Aave has added a fresh Pendle principal token to its V3 deployment on Monad. The new reserve, PT-AUSD-17DEC2026, has already filled its 30 million-token supply cap, with $29.67 million supplied. The previous version of this token matures on October 8, 2026, and its holders needed somewhere to go. What Aave actually listed The asset is a principal token tied to AUSD, a stablecoin. A principal token is a claim on an underlying asset that comes due on a fixed maturity date, which in this case is December 17, 2026. Aave copied the risk settings from the predecessor market, PT-AUSD-8OCT2026. Users cannot borrow the principal token directly. They can only post it as collateral. That collateral use is limited to a stablecoin-focused eMode. Inside that mode, the loan-to-value ratio is 93% and the liquidation threshold is 95%. The proposal to list the token was submitted on September 25, 2026. LlamaRisk, which advises Aave on risk, recommended it. The October market set the template The earlier PT-AUSD-8OCT2026 market launched with a supply cap of 20 million tokens. That cap was eventually raised to 80 million tokens. By October 2, 2026, 67.4 million tokens, roughly $67 million, had been su...