Ethena's Aave bill went from $47K to $63K a day on the same loan
the loan didn't grow
since nov 9 other borrowers took more $USDC, and
@aave's main $USDC pool is now over 94% lent out
past that line Aave raises the rate fast to keep some cash in the pool for withdrawals
without Ethena's loan the rate would drop to 4%, so every other borrower now pays about $130K a day more
most of that money goes to $USDC lenders, and 45% of what they earn there today depends on
@ethena's loan staying in the pool