Aave

Aave v3 weETH

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

$4.56b+4.98%

Supply APY

0.00%

BBB+Rated Protocol

Updated Mar 16, 2026

Risk Rating

BBB+

AAAAAABBBBBBCCCCCCD

This rating is based solely on publicly available information. 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.

SCS: Smart Contract Security

KMP: Key Management Permissions

M: Market

L: Liquidity

C: Collateral

PM: Protocol Mechanics

ICE: Infra Counterparty Exposures

PCE: Protocol Counterparty Exposures

G: Governance

FR: Financial Resilience

TLC: Team Legal Compliance

DT: Documentation Transparency

Potential Score

Provider risk assessed across Business, Operations, Reliability, and Security.

View the detailed scoring breakdown

Challenge this rating

Contract Addresses

aEthweETH (aToken)

0xBdfa...5129

Collector

0x464C...e18c

ACLManager

0xc2aa...dd42

LendingPool

0x8787...A4E2

weETH Token

0xCd5f...b7ee

PoolConfigurator

0x64b7...bB27

PoolAddressesProvider

0x2f39...4E9e

Key Strengths

Extensive 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
weETH borrowing is disabled on Aave Core Market, eliminating bank-run risk and utilization-driven withdrawal constraints that affect other reserves
Full on-chain DAO governance via token voting with structured proposal process, timelocked execution, and two independent Guardian multisigs
Near-zero utilization provides essentially 100% withdrawal availability at all times with no liquidity constraints
Battle-tested through major stress events with zero permanent user fund losses across an 8+ year protocol track record

Key Risks

CAPO oracle architecture has no redundant fallback -- the same system that caused wrongful wstETH liquidations is used for weETH exchange rate validation
weETH has never been stress-tested under token-specific duress, unlike wstETH which survived a mass exit event with sustained depeg over multiple weeks
weETH carries additional EigenLayer restaking slashing risk beyond standard ETH consensus staking, with losses socialized across all eETH/weETH holders
Key service providers departing the ecosystem create significant organizational transition risk for the platform
Combined backstop reserves represent less than 1% of total protocol TVL relative to the scale of assets under management