risk managerLlama Riskllamarisk.com
↓LlamaRisk April 2025 Monthly Community Update
sUSD deprecation supported on Aave V3 Optimism due to diminished peg stability after Synthetix pool 420 changes, increasing bad debt vulnerability as liquidity fades.
Overview
sUSD (Optimism)(sUSD)
Token PriceN/A
Key Metrics
Risk Timeline
Risk-management actions published about sUSD by tracked risk managers and governance contributors, newest first.
contributor@misherforum.skyeco.com
→Synthetix bailout proposal withdrawn amid sUSD depeg
Synthetix's sUSD stablecoin has depegged to $0.89 with $50-60M outstanding against a $30M treasury, sparking bailout talks to switch to USDS; the proposal was withdrawn with confidence in natural peg restoration as in past events.
risk managerLlama Riskllamarisk.com
↓Further Deprecate sUSD on Aave V3 Optimism
sUSD has suffered severe peg deviation, eroding user confidence and heightening risks. The introduction of Synthetix’s Pool 420 has fundamentally altered collateral dynamics, compounding these issues and necessitating reduced exposure to limit systemic risk.
risk managerLlama Riskllamarisk.com
↓LlamaRisk January 2025 Monthly Community Update
Risk parameter adjustment for sUSD supports setting E-Mode LTV to 0% to prevent new exposure amid ongoing concerns.
risk managerLlama Riskllamarisk.com
↓sUSD Risk Parameter Adjustment on Aave Optimism
sUSD's secondary market price remains 2% below peg despite DEX liquidity recovery, with increased volatility and no signs of rebound, indicating a fundamental market shift and liquidity concentration risks. This prompts safety measures to limit USD exposure on Aave Optimism, including deprecating Stablecoins E-Mode by setting its LTV to 0 to block new borrows while allowing existing positions to be topped up.
risk managerGauntletgovernance.aave.com
→Gauntlet risk parameter updates for AVAX V3 and OP V3
Gauntlet's analysis for Aave V3 Optimism recommends a minor increase in sUSD's liquidation bonus to better optimize insolvencies, liquidations, and borrow usage, drawing from current market data and borrower position aggregates.
contributor@Llamaxyzgovernance.aave.com
↓Aave v2 Ethereum: Disable Borrowing on Volatile Assets
Recent market events and liquidity contraction have heightened volatility risks for sUSD, prompting a disable of borrowing to reduce exposure while allowing deposits.
risk managerGauntletgovernance.aave.com
↓Risk Parameter Recommendations for Aave V2 ETH
Current market volatility combined with Aave V2's lack of advanced risk controls like supply caps and isolation mode heightens exposure risks for sUSD, prompting a temporary freeze to derisk the protocol ahead of V3 migration.
risk managerGauntletgovernance.aave.com
↑Aave V3 Ethereum: Initial Assets and Configurations
SUSD's inclusion in the broader option is based on stablecoin liquidity and utilization data from V2, though collateral remains disabled to match prior risk settings.
risk managerLlama Riskllamarisk.com
→Risk Assessment: Synthetix Atomic Swaps
sUSD serves as the primary stablecoin for minting debt shares, with atomic swaps increasing volume in sUSD pools on Curve but exposing stakers to unhedged changes in total debt value if synth prices fluctuate relative to sUSD. Governance monitors parameters like target C-ratios to ensure liquidity without insolvency, supported by simulations from Gauntlet.
Markets
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Yields
Showing 10 of 13 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSᗞT-SUSD | $5.9m | 3.59% | 3.59% | 3.59% | |||||
| open in new tabSUSD-SUSDE | $872,375 | 5.75% | 0.56% | 0.54% | |||||
| open in new tabSUSD-SNX1% | $588,290 | 175% | 175% | 37.32% | |||||
| open in new tabUSDC-SUSDstable - 0.05% | $111,560 | 83.87% | 83.87% | 41.68% | |||||
| open in new tabUSDC-SUSDVelodrome | $83,109 | 114% | 49.34% | ||||||
| open in new tabSUSD-WETH | $73,180 | 75.23% | 75.23% | 11.89% | |||||
| open in new tabSUSD-WETH0.3% | $54,143 | 157% | 157% | 58.92% | |||||
| open in new tabSUSD-SUSDE | $32,328 | 12.11% | 0.41% | 0.74% | |||||
| open in new tabSUSD-SUSDEConvex | $29,264 | 12.40% | 0.75% | ||||||
| open in new tabSUSD | $13,192 | 1.24% | 1.24% | 1.74% |
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