Aave V4 Base Hub Holds About $4 Million in Tokenized Stocks

Aave V4’s Equities Hub on Base held approximately $4 million in tokenized-stock deposits on Oct. 5. The market is designed to back USD Coin (USDC) loans with equity exposure.

The dashboard, updated at 3:43 a.m. ET (0743 UTC), separately listed $9.24 million supplied across the hub. Approximately $4 million was in tokenized stocks, while $5.25 million was in USDC; the figures were not an exact mathematical breakdown of the total.

The hub allows eligible non-U.S. users to use seven Coinbase-issued tokenized stocks as collateral for USDC loans. The supported assets are AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc and TSLAc.

The stocks are collateral-only assets, while USDC is the sole borrowable asset. The market is isolated from other Aave markets on Base, keeping its liquidity and risk parameters separate.

Aave launched the Equities Hub on Sept. 25. Its initial parameters included approximately $29.3 million in collateral capacity, a $32 million USDC supply cap and a $21 million USDC borrowing cap.

Collateral factors range from 65% to 79%. Meta and Tesla have 65% factors, Nvidia 70%, Amazon 73%, Alphabet 76%, Apple 78% and Microsoft 79%.

Coinbase Onchain SPV Ltd. issues the certificates, while Alpaca Securities LLC holds the underlying shares in segregated custody. The offering is limited to eligible non-U.S. persons in permitted jurisdictions.

The structure lets users seek USDC liquidity without selling their tokenized stock exposure. It also carries pricing-timing risk on weekends and U.S. market holidays because the equity price feeds retain their last published values.

Chainlink’s pricing window runs from 8 p.m. ET Sunday (0000 UTC Monday) through 8 p.m. ET Friday (0000 UTC Saturday). Prices remain unchanged outside that window.

The Base market for tokenized-stock loans previously covered the seven eligible assets and the structure of the lending venue.