Aave V4 اولین بازارهای وام با نظارت خارجی را با Sentora باز می کند

Aave V4 has launched its first externally curated lending markets, allowing an independent risk manager to operate dedicated borrowing markets on top of Aave's infrastructure. The first markets are being managed by institutional DeFi platform Sentora and are now live on Ethereum. According to Aave's official announcement, users can borrow RLUSD, PYUSD and OUSD against selected yield-bearing and blue-chip collateral across three new markets. The launch marks a significant shift in how Aave organizes lending liquidity and risk. Aave Opens Lending Infrastructure to External Curators Traditional Aave markets have generally relied on risk parameters managed through Aave governance and its associated service providers. Aave V4 introduces a different model. Its Hub-and-Spoke architecture separates liquidity from individual lending markets, allowing different Spokes to use a shared liquidity Hub while maintaining their own collateral rules and risk settings. Sentora is the first external curator to operate markets under this framework. The company manages collateral requirements, interest-rate curves, liquidation settings and oracles for the markets it operates. That gives an external organization considerably more control over how a lending market is configured while still using Aave's core smart-contract infrastructure. Three Lending Markets Are Live The initial deployment consists of three markets. The RLUSD Yield market allows users to borrow Ripple's RLUSD against USDe, PRIME, mWIN and PST collateral. The OUSD Yield market uses the same collateral set but allows users to borrow Origin's OUSD. A third Bluechip market allows borrowing RLUSD, PayPal's PYUSD or OUSD against kBTC. The structure gives each market its own risk profile rather than placing every collateral type inside the same lending pool. Sentora's original governance proposal describes the deployment as a dedicated Ethereum Liquidity Hub connected to separate Spokes for different collateral categories. Why Aave V4 Uses Hubs and Spokes The core idea behind Aave V4 is to separate liquidity from risk management. In previous lending architectures, each market often required its own isolated liquidity pool. That fragmentation can make capital less efficient. Under V4, liquidity providers deposit assets into a Hub. Individual Spokes can then draw liquidity from that Hub subject to their own collateral and borrowing rules. This means several lending markets can share liquidity without necessarily sharing the same risk assumptions. Sentora explains that the architecture allows each Spoke to maintain independent collateral assets, price feeds and risk parameters while drawing from a common liquidity source. For lenders, the potential advantage is better capital efficiency. For borrowers, it means more specialized markets can be created without requiring a completely separate pool for every use case. Sentora Controls Risk Parameters External curation does not simply mean adding another frontend to Aave. Sentora has operational control over several important parameters inside its markets.