Aave V3 weETH is a lending pool on Ethereum Core Market where users supply wrapped eETH as collateral to borrow WETH and stablecoins. Yield accrues from the underlying ether.fi liquid restaking rewards, while borrowing is disabled on this reserve.
AUM
$2b
Net APY
0%
Active Users
1k
Type
Lending
Network
Ethereum
BBB+
Elevated RiskCeiling A+
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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 A+ 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
LLiquidity100
CCollateral67
PMProtocol Mechanics93
ICEInfra Counterparty Exposures67
PCEProtocol Counterparty Exposures100
GGovernance100
FRFinancial Resilience87
TLCTeam Legal Compliance93
DTDocumentation Transparency100
Performance
Assets Under Management · 30D▼ 15.22%
$2b
Over the last 30 days, the total value of Aave v3 weETH has dropped 15.22% with $345.47M 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▼ 0.26%
1k
Over the last 30 days, active users have decreased by 0.26%, reaching 1.1K wallets.
Market Details
ChainEthereum
Treasury$125.00M
Stated Withdrawal TimeInstant
Component Ratings
Contract Addresses
Smart Contract0xBdfa...275129
Collector0x464C...d6e18c
ACLManager0xc2aa...eddd42
LendingPool0x8787...4fA4E2
weETH Token0xCd5f...59b7ee
PoolConfigurator0x64b7...9EbB27
PoolAddressesProvider0x2f39...d94E9e
Key Strengths
S1Extensive audit coverage across both the Aave lending platform and the underlying ether.fi LRT from top-tier firms including OpenZeppelin, Trail of Bits, Certora, and Zellic
S2weETH borrowing is disabled on Aave Core Market, eliminating bank-run risk and utilization-driven withdrawal constraints that affect other reserves
S3Full on-chain DAO governance via token voting with structured proposal process, timelocked execution, and two independent Guardian multisigs
S4Near-zero utilization provides essentially 100% withdrawal availability at all times with no liquidity constraints
Key Risks
R1CAPO oracle architecture has no redundant fallback -- the same system that caused wrongful wstETH liquidations is used for weETH exchange rate validation
R2weETH has never been stress-tested under token-specific duress, unlike wstETH which survived a mass exit event with sustained depeg over multiple weeks
R3weETH carries additional EigenLayer restaking slashing risk beyond standard ETH consensus staking, with losses socialized across all eETH/weETH holders
R4Key service providers departing the ecosystem create significant organizational transition risk for the platform
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