Aave V3 wstETH is a lending pool on Ethereum Core Market where users supply wrapped staked ETH to earn lending interest. Yield comes from borrower interest payments, while wstETH also serves as primary collateral for ETH-correlated E-Mode borrowing strategies.
AUM
$2b
Net APY
0%
Active Users
4k
Type
Lending
Network
Ethereum
BBB+
Elevated RiskCeiling AA
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CurrentPotential
This rating is based solely on publicly available information. DeFi protocol risk assessed across Security, Strategy and Operations on the AAA–D scale. The range from BBB+ to AA reflects the gap between the current assessment and the potential rating achievable if all identified improvement areas are addressed.
SCSSmart Contract Security100
KMPKey Management Permissions91
MMarket100
LLiquidity85
CCollateral100
PMProtocol Mechanics93
ICEInfra Counterparty Exposures67
PCEProtocol Counterparty Exposures100
GGovernance100
FRFinancial Resilience87
TLCTeam Legal Compliance93
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 0.37%
$2b
Over the last 30 days, the total value of Aave v3 wstETH has dropped 0.37% with $6.00M in outflows.
Supply APY · 30D▲ 0.00%
0%
Over the last 30 days, the APY has increased from 0.00% to 0.00%.
Active Users · 30D▼ 0.21%
4k
Over the last 30 days, active users have decreased by 0.21%, reaching 4.3K wallets.
Market Details
ChainEthereum
Treasury$125.00M
Stated Withdrawal TimeInstant
Component Ratings
Contract Addresses
Smart Contract0x0B92...9E9371
Collector0x464C...d6e18c
ACLManager0xc2aa...eddd42
LendingPool0x8787...4fA4E2
wstETH Token0x7f39...5E2Ca0
PoolConfigurator0x64b7...9EbB27
PoolAddressesProvider0x2f39...d94E9e
Key Strengths
S1Extensive audit coverage from top security firms including OpenZeppelin, Trail of Bits, and Certora formal verification, with continuous coverage through V3.6
S2Large-scale protocol with wstETH pool at $3.73B and conservative 4.08% utilization providing ample withdrawal liquidity under normal conditions
S3Robust governance structure with two 5-of-9 Guardian multisigs, timelocked execution, on-chain DAO voting, and over 1,100 automated parameter updates via Risk Stewards
S4Rapid incident response demonstrated during the March 2026 CAPO event with post-mortem within one day and full user reimbursement committed
Key Risks
R1CAPO oracle misconfiguration in March 2026 caused wrongful E-Mode liquidations with no redundant fallback, and a near-identical issue one month earlier went undetected
R2E-Mode tight liquidation buffers (93% LTV / 95% LT) amplify any oracle or pricing error into large-scale liquidation cascades
R3Combined backstop reserves represent less than 1% of total protocol TVL, modest relative to the scale of potential exposure
R4Organizational instability from simultaneous departure of two critical service providers (BGD Labs and ACI) during 2026
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