Aave weighs tokenized SpaceX shares as collateral, with LlamaRisk urging caution

Aave may soon let users borrow against a piece of Elon Musk’s rocket company. Aave Labs has put forward a governance proposal to accept tokenized SpaceX Class A common stock, trading as SPCXc, as collateral on the protocol’s Aave V4 Equities Hub. Risk advisory firm LlamaRisk has recommended a set of guardrails for the listing. What the proposal actually does The proposal was introduced on October 15, 2026. It targets the Equities Hub, a section of Aave V4 that went live on September 25, 2026. That hub already supports tokenized shares of the so-called Magnificent Seven, the mega-cap US tech stocks. Those tokens are issued through Coinbase’s B20 standard, which brings traditional equities onchain in a form DeFi protocols can use. SPCXc would join that lineup with a narrow job description. It would be listed as collateral-only, and the only asset users could borrow against it is USDC. Pricing would come from Chainlink, which the hub uses for continuous price feeds to track the value of listed assets. LlamaRisk’s numbers, translated First, the firm suggests a 55% collateral factor. A collateral factor caps how much you can borrow relative to what you deposit. Here, every $100 of SPCXc...