Aave
Entity9 coinsAuditedAave is a multichain non-custodial lending protocol for supplying, borrowing, and earning interest. The Aave DAO governs parameters, listings, and emissions; Aave Labs is the primary development company.
Savings for Everyone — open-source non-custodial liquidity protocol.
Protocol TVL
Latest data
Users
Depositors
APR
Coins under Aave
Member products
Coins under Aave
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Main components (5)
Lending markets
Core/Prime/Plus/Horizon markets: supply assets to pools, borrow against collateral, earn real-time interest. Not a token — the protocol product.
aTokens
Interest-bearing deposit receipts (e.g. aUSDC) minted on supply — accrue yield, redeemable for underlying + interest.
GHO
Native Aave stablecoin minted by locking approved collateral via Aave.
sGHO / StkGHO
GHO savings product — yield-bearing, not the stablecoin itself. New sGHO experience live May 2026.
AAVE / stkAAVE
AAVE governs the DAO; stkAAVE is the legacy Safety Module position being superseded by Umbrella.
Differentiator
Scale and breadth: large multichain lending network plus native overcollateralized stablecoin (GHO), staking/backstop mechanics (stkAAVE → Umbrella), and institutional/RWA lending (Horizon) under DAO governance.
Key facts
Curated off-chain facts with source + freshness.
Off-chain facts
- BuybackUpdated periodically
Aavenomics directs protocol revenue to recurring AAVE buybacks (~$1M/week, ~$50M/yr scale) alongside the Umbrella safety backstop.
Aave - Safety ModuleCurated
Umbrella replaces the legacy Safety Module; stkGHO and stkABPT absorb first-loss to cover protocol shortfalls and bad debt.
Aave
Commonly asked questions
What is the GHO / sGHO distinction?Key
GHO is the overcollateralized stablecoin. sGHO is the yield-bearing savings wrapper — same pattern as USDe/sUSDe or USDS/sUSDS.
Is Aave custodial?Key
No. Aave is a non-custodial liquidity protocol; users retain control of assets in smart contracts.
What replaced the Safety Module?
Umbrella is the new insolvency backstop; legacy stkAAVE/stkABPT positions remain on-chain but the module role is superseded.
Timeline & news
Key milestones in the entity's history.
LEND → AAVE migration
ExecutedLEND migrates to AAVE at 100:1, fixing a 16M max supply and launching the Aave governance token.
SourceGHO stablecoin launches
ExecutedAave introduces GHO, a native overcollateralized stablecoin minted against Aave collateral.
SourceAavenomics + Umbrella go live
ExecutedProtocol revenue funds AAVE buybacks (~$50M/yr scale); Umbrella replaces the legacy Safety Module.
SourcesGHO savings + Aave V4 direction
StatedA new sGHO savings experience ships and governance advances Aave V4 (e.g. deployment on Arc).
SourceOrganizational structure
Units & roles
- Development company
Aave Labs
Primary DAO service provider under the Aave Will Win framework.
- Governance
Aave DAO
Tokenholder governance over parameters, listings, emissions, and buybacks.
- Insolvency backstop
Umbrella
New backstop replacing the legacy Safety Module ($246.6M cited May 2026).
Tokenomics
Max supply
16.0M
Buyback policy
Aavenomics buys back AAVE with protocol revenue (~$1M/week, ~$50M/yr scale).
Distribution
- 16M AAVE max supply.
- stkAAVE/stkGHO/stkABPT provide Safety Module / Umbrella first-loss capital.
Risks identified
- Collateral
Bad collateral or oracle failures can create bad debt in lending pools.
- Oracle
Stale price feeds impair liquidations and collateral valuation.
- Smart Contract
Risk across V3/V4 markets, GHO, and Umbrella upgrades.
- Liquidity
Thin markets impair exits and liquidations during stress.
- Regulatory
Aave App is not a regulated financial product; jurisdictional exposure.
- Governance
Concentration and coordination risk over emissions, buybacks, and listings.
- Counterparty
Dependency on bridges, external vaults, and partner infra (e.g. Whop/Veda).
Partnerships
Active partnerships
Whop
2026-06-04
Treasury balances routed to Veda vault → Aave Plasma V3 (up to 6% APY).
Circle / Arc
2026-05-29
Governance temp-check to deploy Aave V4 on Arc (proposal).
Similarity to traditional finance products
How Aave maps onto established TradFi structures, and where it diverges.
| TradFi product | Similarity to Aave | Key differences |
|---|---|---|
| Money-market fund + secured lending desk | Supply/borrow markets resemble secured lending with interest-bearing deposit receipts (aTokens). | Overcollateralized onchain pools vs bank balance-sheet lending; governance via AAVE tokenholders. |
| Overcollateralized dollar liability | GHO maps to a decentralized overcollateralized dollar. | Minted via Aave collateral vs fiat or Treasury reserves. |
Research agentERC-8004
A passkey-owned AI agent that lives on Aave and answers from its stablecoins, tokens, and RWAs — with its own on-chain ERC-8004 identity.
Checking for your Aave agent…
AI Agent Skill
Machine-readable protocol knowledge for agents
Aave — Research Skill
Savings for Everyone — open-source non-custodial liquidity protocol.
aave · v1.0.0
Facts
| category | Umbrella Entity |
| symbol | AAVE |
| tagline | Savings for Everyone — open-source non-custodial liquidity protocol. |
| arbitrumNative | no |
| chains | Arbitrum One |
| security | audited (OZ-derived · reported audited (no public link)) |
| memberCoins | 9 (GHO, sGHO, AAVE, stkAAVE, stkGHO, aUSDC, aUSDT, aWETH, stkABPT) |
| tvl | $12.48B |
Sections
Overview
Aave is a multichain non-custodial lending protocol for supplying, borrowing, and earning interest. The Aave DAO governs parameters, listings, and emissions; Aave Labs is the primary development company.
What makes it different
Scale and breadth: large multichain lending network plus native overcollateralized stablecoin (GHO), staking/backstop mechanics (stkAAVE → Umbrella), and institutional/RWA lending (Horizon) under DAO governance.
Components
- Lending markets: Core/Prime/Plus/Horizon markets: supply assets to pools, borrow against collateral, earn real-time interest. Not a token — the protocol product. - aTokens: Interest-bearing deposit receipts (e.g. aUSDC) minted on supply — accrue yield, redeemable for underlying + interest. - GHO: Native Aave stablecoin minted by locking approved collateral via Aave. - sGHO / StkGHO: GHO savings product — yield-bearing, not the stablecoin itself. New sGHO experience live May 2026. - AAVE / stkAAVE: AAVE governs the DAO; stkAAVE is the legacy Safety Module position being superseded by Umbrella.
Member coins
- GHO (GHO) — Stablecoin, Native Aave overcollateralized stablecoin - sGHO (sGHO) — Stablecoin, Yield-bearing GHO savings (not the stablecoin itself) - AAVE (AAVE) — Token, DAO governance token (max supply 16M) - stkAAVE (stkAAVE) — Token, Legacy Safety Module staked AAVE - stkGHO (stkGHO) — Stablecoin, Staked GHO backstop (Safety Module / Umbrella) - Aave aUSDC (aUSDC) — Token, Interest-bearing USDC deposit receipt - Aave aUSDT (aUSDT) — Token, Interest-bearing USDT deposit receipt - Aave aWETH (aWETH) — Token, Interest-bearing WETH deposit receipt - stkABPT (stkABPT) — Token, Staked AAVE/wstETH LP backstop (first-loss)
Risks
- Collateral: Bad collateral or oracle failures can create bad debt in lending pools. - Oracle: Stale price feeds impair liquidations and collateral valuation. - Smart Contract: Risk across V3/V4 markets, GHO, and Umbrella upgrades. - Liquidity: Thin markets impair exits and liquidations during stress. - Regulatory: Aave App is not a regulated financial product; jurisdictional exposure. - Governance: Concentration and coordination risk over emissions, buybacks, and listings. - Counterparty: Dependency on bridges, external vaults, and partner infra (e.g. Whop/Veda).
TradFi analogue
- Money-market fund + secured lending desk: similar — Supply/borrow markets resemble secured lending with interest-bearing deposit receipts (aTokens).; differs — Overcollateralized onchain pools vs bank balance-sheet lending; governance via AAVE tokenholders. - Overcollateralized dollar liability: similar — GHO maps to a decentralized overcollateralized dollar.; differs — Minted via Aave collateral vs fiat or Treasury reserves.
Actions
| Name | Signature | Access |
|---|---|---|
getProfile Read the CanHav profile for Aave. | research_getEntity({ slug: "aave" }) | read-only |
listMembers List the member coins (stablecoins / tokens / RWAs) under this entity. | research_listByCategory({ category: "entities" }) | read-only |
readLiveMetrics Read live on-chain supply / metadata for a member contract (Arbitrum). | chain_readLive({ address: "0x..." }) | read-only |
getHistory Pull historical peg / TVL series for a member protocol. | research_getHistory({ slug: "<member-slug>", metric: "peg" | "tvl" }) | read-only |
Glossary
- TVL
- Total value locked — assets held or managed by a protocol, in USD.
- APR
- Annual percentage rate — yield before compounding.
- RWA
- Real-world asset — an off-chain asset represented as an on-chain token.
- ERC-8004
- Trustless-agent identity standard; an agent's portable on-chain identity (ERC-721).