Aave has activated its first externally curated lending markets on the V4 protocol through a partnership with institutional DeFi platform Sentora, marking the inaugural governance-approved Hub and Spoke deployment operated by an external curator on Ethereum. The launch was announced by Aave on October 22, 2026, and introduces three independently managed markets available via Aave Pro.
Under the arrangement, Sentora manages collateral requirements, interest rate curves, price oracles, and liquidation parameters, while Aave DAO retains ownership of the underlying contracts. Risk-increasing changes are subject to a 48-hour timelock, and any new collateral asset must pass Aave governance review before listing. Sentora operates a dedicated Liquidity Hub on Ethereum that holds borrowable assets and supplies liquidity to the individual lending markets.
The first two yield markets let users borrow Ripple's RLUSD or Origin's OUSD against four collateral assets: USDe, PRIME, mWIN, and PST. A third Bluechip market supports borrowing RLUSD, PayPal's PYUSD, and OUSD against kBTC, a Bitcoin-backed asset. Each market has separate borrowing conditions despite drawing liquidity from the same hub, and a planned PYUSD Yield market is identified in Sentora's published architecture.
The V4 Hub and Spoke design separates liquidity accounting from individual lending markets. Sentora said its institutional DeFi platform has allocated more than $2 billion across onchain strategies and uses more than 1,000 risk models per strategy. Its Sentora Risk Radar now covers Aave V4 with block-level economic risk analytics across more than 40 DeFi protocols on 12-plus blockchain networks. In September, Aave reported V4 deposits above $1 billion and roughly $310 million in active loans. Aave has also received an October 14 proposal from Babylon Labs to support stablecoin borrowing against native Bitcoin held in vaults.
