Wrapped Aave Ethereum USDC

WAETHUSDC

Stablecoin, stable asset weights

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.28–

Transparencywithheld×0.24–

Revenuewithheld×0.08–

Innovationwithheld×0.08–

Communitywithheld×0.12–

Tokenomicswithheld×0.20–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Wrapped Aave Ethereum USDC

Analysis of 17 Feb 2026

Wrapped Aave Ethereum USDC (waUSDC) is an ERC-4626 tokenized vault wrapper for Aave v3 aUSDC, with 110.86 million tokens in circulation and a market cap of $229.77 million as of February 17, 2026. The token wraps Aave's interest-bearing aUSDC into a non-rebasing standardized vault, enabling DeFi composability while earning variable yield from Aave's ~$30 billion TVL lending markets, up 50% from the 2026 YTD low of $20 billion.

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Aave Labs' February 12, 2026 'Aave Will Win' proposal to redirect 100% of protocol revenue to the DAO treasury strengthens long-term protocol sustainability. The upcoming Aave V4 is set to adopt native ERC-4626-style share accounting, directly enhancing waUSDC's architectural alignment with the protocol's future.

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