The Aave governance forum has recently stirred up waves, proposing to peg Ethena's USDe to USDT on a 1:1 basis, 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 liquidation.

It is worth noting that the proposal authors ChaosLabs and LlamaRisk have a partnership with Ethena, which has raised concerns among some community members, such as MakerDAO's ImperiumPaper, who believe this is akin to "a real estate agent representing both the buyer and the seller."

Critics point out that USDT is backed by off-chain assets, while USDe relies on ETH strategies, which may face risks when market sentiment shifts. Ethena founder Guy Young denied any conflicts of interest, emphasizing that a risk committee has been established to ensure external oversight.