OIP-195: Aave Liquid Leverage Campaign - USDe Yield Enhancement

Summary:

This RFC proposes deploying $10M of Treasury USDe into Ethena's Aave Liquid Leverage campaign via Merkl. The strategy uses recursive USDe/USDT loops on Aave V3 to generate blended yields in the 9-11% APR range on principal, compared to the current approximately 3.5% earned on idle sUSDe holdings. Net income is routed through the YRF for automated OHM buybacks and burns.

Context & Rationale:

Olympus currently holds significant USDe exposure across its Treasury, with the majority sitting in sUSDe earning approximately 3.54% APY. While sUSDe remains a sound reserve asset, the Ethena ecosystem now offers a structured, on-chain yield amplification strategy that materially improves capital efficiency without adding directional exposure to volatile assets.

Ethena launched a Liq