Token profile

Aave (AAVE)

Mature DeFi benchmark with relatively transparent protocol economics and a token case tied to governance, safety, and value capture decisions.

Monitor with caution

Overview

Aave · Ethereum · Lending. Websites and governance links are included for direct source review.

Metric	Value	Evidence
Current price	Example seed value onlyneutral	Research methodology Open source example-seed Confidence: low Illustrative seed example. Not live market data; verify against current sources before acting.
Market capitalization	$2,600,000,000positive	Illustrative seed Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Primary sources	On-chain governance and protocol dashboardspositive	Research workflow Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Overall score

60.6

/ 100

Monitor with caution

Confidence

99%

Missing-data penalty

-0.0

Data-age penalty

-1.0

Penalties

Revenue and revenue growth

Rewards durable fee generation, growth, and quality while discounting incentive-dependent revenue.

8.0 / 15

Token-holder value capture

Measures whether protocol success translates into token demand, buybacks, burns, or revenue sharing.

6.4 / 15

Net buyback yield

Separates gross buyback narratives from net sellable supply after emissions, unlocks, and incentives.

8.7 / 15

User and volume growth

Rewards adoption, transaction activity, and share gains rather than isolated token marketing.

3.6 / 10

Utility

Measures whether the token is genuinely required for access, collateral, governance, or economic participation.

7.2 / 10

Supply quality

Rewards healthier float and lockups while penalizing aggressive unlocks and concentration.

7.8 / 10

Relative valuation

Compares valuation against peers on revenue, fees, TVL, and user monetization.

7.1 / 10

Liquidity and exitability

A high score requires enough volume and depth to enter or exit size without severe slippage.

8.6 / 10

Competitive moat

Captures network effects, switching costs, distribution, and structural advantages.

4.2 / 5

Four-quadrant tokenomics

Utility, locking, buybacks, and burns all require evidence, not just charts.

Utility: 7.2 / 10

Governance and ecosystem integration are meaningful.

Aave remains embedded in core DeFi workflows.

Locking and loyalty: 5.9 / 10

Loyalty exists, but locking is not the main story.

The moat matters more than mechanical lockups.

Buybacks: 6.4 / 10

Policy tailwind exists but is not yet extreme.

Value capture depends on governance decisions rather than a purely automatic rule.

Burns and scarcity: 3.5 / 10

Scarcity is secondary to governance-driven utility.

Supply quality matters more than burns.

Net token flow

Gross demand and sellable supply remain separated across low, base, and high cases.

Scenario	Gross buying pressure	New sellable supply	Net token flow	Net buyback yield
low	$34,400,000.00	$14,400,000.00	$20,000,000.00	0.77%
base	$43,000,000.00	$12,000,000.00	$31,000,000.00	1.19%
high	$51,600,000.00	$9,600,000.00	$42,000,000.00	1.62%

Protocol fundamentals

Measures whether the underlying protocol is succeeding.

Metric	Value	Evidence
TVL	High and diversifiedpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Revenue	Established and recurringpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Market share	Defensible in lendingpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Developer activity	Strongpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Token fundamentals

Measures whether protocol success benefits the token itself.

Metric	Value	Evidence
Governance	Meaningfulpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Fee alignment	Improving but policy dependentneutral	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Collateral utility	Present in ecosystempositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Supply analysis

Float, unlocks, concentration, and future sell pressure matter directly to token quality.

Metric	Value	Evidence
Float percentage	Healthypositive	Illustrative seed Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Insider concentration	Manageablepositive	Illustrative seed Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Unlock risk	Lowpositive	Illustrative seed Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Value capture, liquidity, and valuation

Direct cash-flow alignment is weighed against exitability and price paid.

Metric	Value	Evidence
Revenue sharing	Governance-contingentneutral	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Buyback path	Potentially improvingpositive	Seed research Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Net token flow	Positive in seed base casepositive	Internal model Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Metric	Value	Evidence
Daily spot volume	$180,000,000positive	Seed example Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Slippage at $100,000	0.9%positive	Seed example Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Exitability rating	7.8 / 10positive	Internal model Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Metric	Value	Evidence
Relative valuation	Reasonable versus qualitypositive	Internal model Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.
Net buyback yield	Positive but not extremepositive	Internal model Open source example-seed Confidence: medium Illustrative seed example. Not live market data; verify against current sources before acting.

Score history

Historical scores help show whether the thesis is strengthening or weakening.

Revenue versus price

Price and protocol usage should be inspected together.

Buybacks versus emissions

Gross positives can be cancelled by larger supply expansion.

Catalysts

Potential demand or thesis-improvement events.

Catalyst	Date	Tone	Why it matters
Governance revenue-capture update	2026-08-28	positive	Token score improves if value capture becomes more direct and durable.

Risks

High-conviction research includes explicit invalidation and structural risk handling.

Risk	Severity	Summary
Governance dependence	medium	Value capture is real only to the extent governance keeps it that way.

Claims and evidence

Claims remain separate from verified data until independently confirmed.

No special seeded claims for this token yet.

Research conclusion

Bull case: Aave compounds protocol strength with better token-holder economics over time. Base case: A mature quality asset where upside is more moderate but risk is also more legible. Bear case: Revenue remains strong while token economics stay merely acceptable, limiting multiple expansion. Invalidation: Governance or market-share deterioration weakens the protocol-token link. Required evidence: Updated revenue allocation, governance proposals, liquidity, and competitive market share.