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
$19m
Net APY
2.67%
Active Users
6k
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
Performance
Assets Under Management · 30D▲ 3.39%
$19m
Over the last 30 days, the total value of Aave v3 EURe Gnosis has grown 3.39% with $628.06K in inflows.
Supply APY · 30D▼ 24.36%
2.67%
Over the last 30 days, the APY has decreased from 3.53% to 2.67%.
Active Users · 30D▲ 2.79%
6k
Over the last 30 days, active users have increased by 2.79%, reaching 6.4K 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
Smart Contract0xEdBC...CcBfb2
EUReV10xcB44...2FC56E
EUReV20x420C...Fa3430
Oracle0xeb0a...42F7c4
ACLManager0xEc71...472614
LendingPool0xb502...E326D8
EUReUSDOracle0xab70...829b7a
PoolConfigurator0x7304...A75D16
Key Strengths
S1Extensive audit coverage from top security firms with continuous formal verification, and EURe V2 separately audited by Ackee Blockchain Security with all findings remediated
S2$1M Immunefi bug bounty explicitly covering Aave V3 Gnosis at all severity levels with broad asset scope
S3Dual 5-of-9 Guardian multisigs with diverse institutional signers providing robust emergency controls and governance veto capability
S4100% organic yield from overcollateralized borrower interest with no emissions dependency, driven by EUR-denominated leverage and Gnosis Pay adoption
Key Risks
R1EURe total market cap is very small relative to pool deposits, creating a structural bank-run vulnerability where total supply barely exceeds the Aave pool; secondary market liquidity severely impaired after a major DEX exploit froze key pools
R2Gnosis Chain is classified as a lower-tier chain and executed a hard fork to recover exploit funds, establishing a precedent for chain-level state changes that raises immutability concerns
R3High utilization leaves a small fraction of TVL immediately available for withdrawal, significantly tighter than comparable EUR stablecoin pools on Ethereum
R4Major collateral assets on Gnosis are bridged from Ethereum via multisig-validated bridge infrastructure, introducing bridge compromise risk that could cause bad debt for lenders
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