Aave v3 WETH Core Market is a lending pool on Ethereum for supplying and borrowing wrapped ETH. Yield comes from borrower interest payments on the battle-tested Aave v3 protocol, governed by AAVE tokenholders with timelocked on-chain execution.
AUM
$4b
Net APY
1.46%
Active Users
45k
Type
Lending
Network
Ethereum
A
Qualified GradeCeiling 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 A 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 Mechanics100
ICEInfra Counterparty Exposures92
PCEProtocol Counterparty Exposures100
GGovernance100
FRFinancial Resilience87
TLCTeam Legal Compliance93
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 12.62%
$4b
Over the last 30 days, the total value of Aave v3 WETH has dropped 12.62% with $506.42M in outflows.
Supply APY · 30D▼ 48.04%
1.46%
Over the last 30 days, the APY has decreased from 2.81% to 1.46%.
Active Users · 30D▲ 0.06%
45k
Over the last 30 days, active users have increased by 0.06%, reaching 45.4K wallets.
Market Details
Component Ratings
Contract Addresses
Smart Contract0x4d5F...C514E8
ACLManager0xc2aa...eddd42
LendingPool0x8787...4fA4E2
PoolConfigurator0x64b7...9EbB27
PoolAddressesProvider0x2f39...d94E9e
Key Strengths
S1Extensive audit coverage from top firms including OpenZeppelin, Trail of Bits, Certora formal verification, Sigma Prime, and Sherlock with continuous coverage through V3.6
S2Battle-tested through major stress events including record liquidation volumes with zero bad debt during a severe ETH crash, where the interest rate model ultimately restored liquidity
S3Robust governance with dual Guardian multisigs, timelocked execution, on-chain DAO voting, and Risk Stewards with automated parameter updates
S4100% organic yield from overcollateralized borrower interest with no emissions dependency across a deep liquidity pool
Key Risks
R1WETH utilization spiked to near-total capacity during severe market stress, temporarily constraining supplier withdrawals; inherent to lending model
R2DAO-Labs governance tension over fee allocation escalated to a large funding request, with significant token price impact during the dispute
R3Large leveraged position unwind demonstrated concentration risk from single-borrower exposure
R4Backstop-to-TVL ratio remains thin relative to total value locked, with DAO Treasury funds requiring governance vote to deploy and not part of automated coverage
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