DEFISCOREAUDIT
An Investgineer Company
Lending protocol · AAVE. Full quantitative scorecard under Methodology v1.0 — normalized bands, weighted scoring, fatal-flaw notching caps, and a stress-tested Solvency grade across four standardized shocks.
Sustainability ratio and treasury runway both score a full 100 — Aave earns far more than it emits, and revenue alone covers the DAO's operating budget with no net burn. The score is held back by a 35% max 90-day TVL drawdown and 74.8% utilization, which thin the liquidity buffer for withdrawals.
The Solvency scorecard is re-run under four standardized shocks. Published rating format: "Solvency: AA (stressed: A)" — the worst case across all four scenarios is a bank-run shock, which drops the grade to A.
| Scenario | Revenue Δ | Treasury Δ | Drawdown | Utilization | Score | Grade |
|---|---|---|---|---|---|---|
| Base | 0% | 0% | 35% | 74.8% | 89.3 | AA |
| S1 · Market crash | -40% | -30% | 50% | 88% | 81.8 | AA |
| S2 · Bank run | -50% | -10% | 60% | 90% | 78.0 | A |
| S3 · Stablecoin depeg | -20% | -10% | 45% | 80% | 80.5 | AA |
| S4 · Dependency failure | -30% | -10% | 40% | 78% | 76.5 | A |
Team transparency and the live bug bounty program both score a full 10/10 — Aave Labs is fully doxxed with a track record since 2017. The softest spot is governance activity: forum and Snapshot/AIP participation is real, but voting power is delegate-concentrated.
Aave dominates its category — 52.4% of DeFi lending TVL and the deepest integration surface in the ecosystem, both maxed out. But this is the drag on the overall rating: trailing 12-month trend is negative across TVL, revenue, and active users, reflecting a sector-wide drawdown (TVL down from a ~$30B peak to $12.45B).
DeFiScoreAudit publishes all three axis grades separately by design — but two composite conventions are available if a single headline number is needed.
"A chain is as strong as its weakest link." Growth caps the composite here — Solvency and Legitimacy alone would suggest AA, but adoption trend is genuinely soft.
Alternative composite that weights the balance-sheet dimensions more heavily. Whichever convention is chosen should stay fixed across every protocol for comparability.