A new direct-to-AIP governance proposal would add Pendle’s PT-USDe-22OCT2026 token as collateral on the Aave V3 deployment on Monad. The proposal was submitted by TokenLogic and targets a Pendle USDe market on Monad that matures on 22 October 2026 at 00:00 UTC.
The post argues that principal tokens, or PTs, have become a productive collateral type across Aave V3 markets. It points to earlier PT-sUSDe and PT-USDe listings on Aave’s Core and Plasma instances, where those assets have been used alongside leveraged fixed-yield strategies that drive stablecoin borrowing demand.
What the proposal would do
If approved, the Aave V3 Monad instance would accept PT-USDe-22OCT2026 as collateral. The stated goal is to improve usage of stablecoin reserves on Monad while also fitting alongside the incentive program already running on that deployment.
The governance post presents the move as an extension of patterns seen on other Aave V3 instances, where PT-based collateral has been associated with deeper stablecoin borrow activity. The proposal itself does not say the asset is live yet; it seeks approval through Aave’s Direct to AIP process.
Asset and market details
The proposed collateral is tied to Pendle’s USDe market on Monad. According to the specification, the asset is PT-USDe-22OCT2026, the network is Monad, and the maturity date is 22 October 2026 at 00:00 UTC.
The proposal lists the PT token address as 0x8382329da318db59c4e33706faac0a883740daea and the underlying USDe address as 0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34. It also identifies the SY address as 0x5fdbc1502e1a3742110730272c61a208758317bc, the YT address as 0xee0b5281dd0b0eacde23cc9029c8b442cafde67c, and the Pendle market LP address as 0x5389a23f8674f55bde2c6f95df2d2090eb84db6f.
Risk work still needs to be added
The post makes clear that key risk components are not final yet. Risk service providers are expected to supply the asset risk assessments and parameter recommendations that would be folded into the final AIP.
That work includes the PT linear discount rate oracle configuration and a dedicated E-Mode category designed to pair PT-USDe-22OCT2026 collateral with stablecoin borrowing. Those pieces are necessary before the governance package can move to a final on-chain vote.
Next confirmed steps
The roadmap in the forum post is straightforward. First, Aave’s risk service providers must deliver their assessments and recommended settings. After that, an AIP vote would be published for final confirmation and on-chain execution.
If that vote passes with a YAE outcome, PT-USDe-22OCT2026 would be onboarded to the Aave V3 Monad instance. Until then, the listing remains a proposal rather than a completed integration.
Source: governance.aave.com