Aave on herrenlos: pooled reserves and one health factor

herrenlos's Lending tab aggregates on-chain money markets from Morpho, Aave, and Compound III — you compare the real markets side by side and act on them from your own wallet. This post is about Aave specifically: what its pooled model means for what you see in the app, and precisely what's wired up today.

What Aave is

Aave v3 is a pooled money market. Each listed token is a reserve. You supply a reserve to earn its supply APY; supplied assets can also serve as collateral; and you borrow from the pool's shared liquidity rather than from one counterparty or one pair.

The consequence is that Aave doesn't think in pairs at all. Your collateral is the whole basket of what you've supplied, your debt is the whole basket of what you've borrowed, and the protocol tracks one portfolio-level health factor across all of it. Supplying more of anything lifts it; borrowing more lowers it.

That's a genuinely different shape from the other two providers herrenlos lists:

• Morpho is isolated pairs — one collateral asset against one loan asset, each pair with its own LLTV and utilisation.
• Compound III is one base asset plus collateral-only assets — deposit these to borrow that one.
• Aave is one pool, many reserves — supply anything listed, borrow anything listed, against a single health factor.

This is also why an Aave row in the herrenlos markets table has no collateral asset. Our table is provider-agnostic, and it carries a collateralAsset field for pair-shaped lenders; an Aave reserve is genuinely loan-only in that sense, so the field is null by construction and the row renders as a single-asset reserve. It's not missing data — it's an accurate rendering of a pooled market.

What you can do on herrenlos today

Compare reserves. Aave reserves appear in the same Lending markets table as Morpho and Compound, each with an Aave provider badge and reachable through the provider filter. herrenlos lists Aave markets on Ethereum, Base, Arbitrum, Optimism, and Polygon.

Read the reserve. Every row carries its live supply APY and borrow APY as fractions from the protocol. Open one and you get the detail header plus stats — total supplied, available liquidity, utilisation — and, where a rate-history series is available, an APY history chart. Where no series exists, the app draws nothing rather than an empty chart.

Act on it. The same four actions as the rest of the lending surface: supply, withdraw, borrow, and repay, each built as an unsigned transaction addressed to that market's pool contract and handed to your wallet.

Skip an approval where the token allows it. Aave's API reports whether a reserve's underlying token supports EIP-2612 permit. When it does, herrenlos uses a signed permit so supply and repay don't need a separate on-chain approval transaction — you sign a message instead of paying for an extra tx. When it doesn't, the app falls back to a standard exact-amount ERC-20 approve. No blanket approvals either way.

Watch one health factor. Because Aave is pooled, your position card is portfolio-level: one health factor and one net worth across all your Aave supplies and debts, using the same Health factor label the rest of the lending surface uses. The action panel tells you plainly which direction an action moves it — borrowing and withdrawing collateral reduce it, repaying raises it.

Non-custodial, and no lending fee

Every action is built server-side as an unsigned transaction and signed by you. herrenlos never holds your funds, never signs on your behalf, and there's no account or KYC. There is no herrenlos fee on lending — nothing is added to the supply, borrow, repay or withdraw path.

Your keys never leave your wallet. Non-custodial isn't a setting — it's the only way herrenlos works.

Honest about the limits

• Operator kill-switches. Supply and borrow sit behind the shared lending execution flags (NEXT_PUBLIC_LENDING_SUPPLY_EXECUTION_ENABLED / NEXT_PUBLIC_LENDING_BORROW_EXECUTION_ENABLED). When one is off, browsing and positions still work and the risk-reducing actions stay available — only that button is disabled, with honest copy.
• Incentive and net APY can be blank. Where our feed doesn't report a reward-adjusted net supply or borrow rate for a reserve, herrenlos shows the base APY and leaves the net figure empty. We don't synthesise one to fill the column.
• We show one health factor, not two. There's a single Aave health factor from the protocol; the app doesn't invent a second scale or a precise projected value for a transaction that hasn't happened yet.
• Liquidations are real. Let the health factor fall far enough and the position can be liquidated. herrenlos surfaces the number and the direction of travel; it doesn't manage the risk for you.
• No credit delegation, and no v4. herrenlos wires the four core actions against Aave v3 reserves. Credit delegation, e-mode strategies and anything from a future protocol version are not part of the app today.
• You need a wallet on the right chain, and any rate is a snapshot until a transaction settles.
• It's one of three providers, in beta. Sometimes a Morpho pair or a Compound Comet fits better — showing them together is the point.

Try it

Open Lending, filter to Aave, and pick a reserve to see its rates and act on it from your own wallet. For where lending and the rest of herrenlos are headed across providers, the roadmap lays it out.