Aave v3 EURe Gnosis DeFi Yield & Risk Rating
Aave v3 EURe Gnosis is a lending pool on Gnosis Chain for supplying and borrowing EURe, Monerium's MiCA-compliant EUR e-money stablecoin. Yield comes from overcollateralized borrower interest payments driven by EUR-denominated leverage and Gnosis Pay adoption.
AUM
$17m
Net APY
2.21%
Active Users
641
Type
Lending
Network
Gnosis
BB+
Elevated RiskCeiling BBB
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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 BB+ to BBB 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
LLiquidity51
CCollateral67
PMProtocol Mechanics85
ICEInfra Counterparty Exposures44
PCEProtocol Counterparty Exposures87
GGovernance100
FRFinancial Resilience87
TLCTeam Legal Compliance93
DTDocumentation Transparency100
Updated Sep 8, 2026Framework v0.1-betaDetailed scoring breakdown ↗Challenge this rating ↗Learn about our ratings ↗
Performance
Assets Under Management · 30D▼ 6.75%
$17m
Over the last 30 days, the total value of Aave v3 EURe Gnosis has dropped 6.75% with $1.23M in outflows.
Supply APY · 30D▼ 9.05%
2.21%
Over the last 30 days, the APY has decreased from 2.43% to 2.21%.
Active Users · 30D▼ 18.55%
641
Over the last 30 days, active users have decreased by 18.55%, reaching 641 wallets.
Market Details
ChainGnosis
Treasury$382.00M
Code AuditsOpenZeppelin ↗Trail of Bits ↗Sigma Prime ↗Certora ↗PeckShield ↗Sherlock ↗MixBytes ↗Pashov ↗Ackee Blockchain Security ↗
Oracles UsedChainlink EUR/USD Price Feed (Gnosis) ↗
Stated Withdrawal TimeInstant
Component Ratings
Contract Addresses (11)
Key Strengths
S1Extensive audit coverage from top security firms across the Aave V3 codebase, with the EURe token separately audited for its V2 migration
S2Large bug bounty explicitly covering the Gnosis deployment at all severity levels
S3Two independent Guardian multisigs with diverse institutional signers and timelocked execution
S4Fully organic yield from overcollateralized borrower interest with no emissions dependency; the reserve factor was reduced via governance to incentivize supply
Key Risks
R1EURe total supply across all chains barely exceeds the deposits in this pool, creating a structural bank-run vulnerability; secondary market liquidity was further impaired after a major exploit froze key trading pools
R2Gnosis Chain executed a hard fork to recover exploited funds, setting a precedent for chain-level state changes that raises immutability concerns
R3High utilization leaves only a small fraction of TVL immediately available for withdrawal, materially tighter than comparable Aave euro markets on Ethereum
R4Major collateral assets on this chain are bridged from Ethereum via a multisig-validated bridge; bridge compromise could cause collateral loss and bad debt for lenders
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