The Aave governance proposal aims to peg Ethena's USDe to USDT, raising community concerns about potential conflicts of interest
ChainCatcher news, according to Protos, the Aave governance forum recently proposed to peg Ethena's USDe to USDT at a 1:1 ratio, raising concerns in the community about potential conflicts of interest. The proposal suggests replacing the current Chainlink USDe/USD oracle with the USDT price to avoid bad debt caused by liquidations.It is worth noting that the two authors of the proposal, ChaosLabs and LlamaRisk, have previously collaborated with Ethena. MakerDAO community member ImperiumPaper expressed concerns, stating that this is similar to "a real estate agent representing both the buyer and the seller."Critics point out that USDT is fully backed by off-chain assets, while USDe relies on a delta-neutral strategy of ETH long and short positions, facing the risk of negative funding rates when market sentiment shifts. Meanwhile, Ethena founder Guy Young denied any conflict of interest, emphasizing that the company has established a risk committee to ensure external oversight of product management.