Sentora Seeks Aave V4 Markets With a 50% Revenue Share

Sentora has asked the Aave DAO for control over the risk settings of a planned set of lending markets on Ethereum. The proposal would give Sentora 50% of protocol revenue, but there is no active deployment or public demand data yet.

The request was posted as an Aave Request for Comments, or ARFC, on September 28. It is still a discussion proposal. It needs a positive Snapshot vote, followed by an onchain Aave Improvement Proposal, before approval.

The original forum proposal would establish Sentora's first Aave V4 instance as a Hub and Spokes structure.

What Sentora wants to control

Sentora would curate the collateral assets, risk parameters, borrowing rate curves and oracles for the instance. The Aave DAO would retain smart contract and administrative ownership through its Governance Short Executor.

Sentora would receive operational roles, not permanent control of the contracts. The roles would be revocable through an onchain governance proposal.

The division of responsibility would go beyond asset selection. Sentora alone would set the risk parameters. They would not be reviewed under Aave's Risk Framework, and Aave's risk service providers would have no mandate to monitor the instance, recommend parameter changes or respond to incidents.

Risk-reducing actions could execute immediately. Risk-increasing changes would face a 48-hour onchain delay. New Hubs and collateral markets would go through a two-week optimistic review.

Aave could not cancel an individual operation during that 48-hour window. It would have to revoke Sentora's roles through governance.

Revenue would be split evenly

All protocol revenue from the instance would be divided equally between Aave and Sentora. That includes reserve factor earnings, protocol liquidation fees and related fee streams.

The split would be settled onchain. The proposal says the Aave DAO would bear no operating cost for the instance.

The proposed borrowable assets are RLUSD, PYUSD and OUSD. Other assets would be accepted as collateral but could not be borrowed, with a zero borrowing rate and no draw cap.

USDC and USDT would be permanently excluded. Sentora said this would avoid competing with liquidity already available in Aave's existing markets.

Every Hub asset would have a reserve factor of at least 20%. Sentora could raise the factor but could not lower it.

The first markets are mostly planned

The launch plan calls for three Spokes, with a fourth to follow later.

The proposed set includes:

• An RLUSD Yield Spoke, with USDe and Huma PST as initial collateral and PRIME and mWIN planned as additions.
• A Bluechip Spoke offering RLUSD borrowing against kBTC.
• An OUSD Yield Spoke, with a PYUSD Yield Spoke planned for later.

The RLUSD Yield Spoke has a proposed $100 million add cap and a $90 million draw cap. The Bluechip Spoke has a proposed $33.3 million add cap and a $30 million draw cap.

Those are proposed limits. They are not current deposits, loans or trading volumes.

There is no live Sentora deployment described in the proposal. It is seeking authority for a first instance on Ethereum. No lending or borrowing demand data is available for these markets, and the research did not establish Sentora's current total value locked or activity on other venues.

CryptoSlate reported on September 30 that the proposal remained under community discussion. It also identified inconsistencies between the proposal's narrative and its collateral tables.

The OUSD price feed is still undefined and must be confirmed before launch. The market status of kBTC, PRIME, mWIN and PST was not independently established beyond the asset addresses listed in the proposal.

Borrowing costs would rise with use

The three borrowable stablecoins would share one rate curve. The base rate would be 0.50%.

The rate would rise to 4.00% at 90% usage and reach 16.00% at full usage. The proposal also specifies a 20% liquidity fee.

Aave's stated case is that Sentora's deposits currently sit on external venues. Moving the strategy into Aave would add liquidity and create a venue for growth in RLUSD, PYUSD and OUSD.

Sentora's rationale is different. It says its markets across isolated venues fragment liquidity and duplicate risk operations. The Aave V4 structure would let it operate related markets under one curated framework.

The main risk gaps remain open

The proposal gives Sentora immediate tools to pause reserves, freeze reserves, halt an asset or halt an entire Spoke. The described role has no named path for reversing an emergency action.

Loss protection is also unclear. CryptoSlate reported that suppliers bear Hub deficits under Aave's V4 Umbrella design. Neither the Sentora proposal nor the Umbrella proposal names Sentora's planned Hub or specifies a Sentora-funded first-loss layer or deficit offset.

That leaves two questions for Aave voters:

• Will suppliers bear losses that Sentora's risk settings cause?
• Will the 50% revenue share compensate the DAO and its users for taking on that risk?

The answer will depend on the final AIP, including the risk providers' role, the price feeds and any deficit coverage.

New asset listings would face a two-week forum window, but no provider is paid to review them. An objection from an appointed service provider would escalate the decision to a binding Snapshot vote. Silence would not prove that a risk review occurred.

Governance has not started

No vote date, Snapshot link or delegate sentiment count has been published. Sentora's first step is community feedback.

If sentiment is positive, the proposal would move to a Snapshot vote. Final parameters would then enter an AIP for onchain approval.

The requested structure is clear. The market demand is not. The DAO is being asked to approve a risk and revenue model before there is a live instance from which to measure deposits, borrowing, revenue or losses.