Hare Develops Aave-Powered Vaults for Stablecoins and Tokenized Gold

Hare is developing Aave-powered onchain vaults for dollar stablecoins and tokenized gold, expanding a product model that pools supplied assets into lending markets.

The business is being built with Turtle, a liquidity-distribution platform. Hare USD Earn is planned to accept major dollar stablecoins, while Hare Gold Earn is expected to support Pax Gold (PAXG) and PAXGy products.

The planned gold product would apply the vault model to tokenized gold. PAXG represents one fine troy ounce of allocated London Good Delivery gold. Roughly 452,355 tokens were outstanding against reserves attested on a one-to-one basis as of June 2026.

A launch date and final details on supported assets, yields, fees, networks, withdrawal terms and risk controls have not been disclosed. The products' availability to U.S. investors and governing regulatory framework have not been disclosed.

In Aave’s model, supplied assets enter liquidity pools that support overcollateralized borrowing. Suppliers earn interest based on borrowing activity, pool utilization and governance parameters.

Hare’s plans come as the curated-vault market expands but remains concentrated. Curated vaults held $11.29 billion across 856 vaults as of Aug. 20, 2026, spanning 131 curators and 18 protocols across Ethereum Virtual Machine and Solana networks.

Five curators controlled 69% of curated-vault total value locked, while Morpho represented 46.2% of the market. A separate July estimate counted $8.6 billion across 788 vaults, reflecting a different measurement period or coverage set.

The next concrete step is the disclosure of Hare’s launch schedule and final product specifications.