Matic Aave Interest Bearing AAVE
MAAAVE
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MAAAVE (Matic Aave Interest Bearing AAVE) is a legacy interest-bearing receipt token (aToken) issued by the Aave protocol on Polygon PoS. While it inherits the top-tier codebase audit history and public leadership of the broader Aave ecosystem, MAAAVE as an individual asset exhibits severe dormancy and obsolescence. The token functions as a passive deposit receipt on the legacy Aave v2 Polygon market, which is undergoing active migration toward v3. Consequently, it has zero independent community, minimal to zero secondary liquidity ($0.60 24-hour volume), and conflicting supply data across market trackers. Additionally, Aave protocol-level collateral risk was evidenced by an April 2026 integration exploit involving KelpDAO/rsETH that created significant bad debt across Aave pools. Given its legacy status, ongoing migration, and complete lack of standalone utility or active trading, holding or trading this specific receipt asset is not recommended.
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Tokenomics
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Security & Audits
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About Matic Aave Interest Bearing AAVE (MAAAVE)
Matic Aave Interest Bearing AAVE (MAAAVE) is a legacy interest-bearing receipt token issued by the Aave protocol on the Polygon PoS network, associated with the Aave v2 market that has been subject to ongoing migration toward Aave v3. The token operates as a derivative representation (aToken) of AAVE deposited into Aave's Polygon lending pool. It has no independent governance or vesting schedule; its supply is designed to be minted against deposits and burned upon redemption, with value accrual linked to the protocol's interest rate mechanics.
MAAAVE does not possess a dedicated community, social media presence, or independent development roadmap, as all protocol governance and technical upgrades are managed by the parent Aave DAO and founder Stani Kulechov. Voting rights within Aave governance remain restricted to Ethereum-based AAVE tokenholders. In secondary markets, MAAAVE exhibits severe dormancy and negligible liquidity, characterized by 24-hour trading volumes under one dollar and conflicting supply metrics across data aggregators.
While Aave's smart contracts have undergone third-party audits by firms such as ChainSecurity, Certora, and MixBytes without direct core contract breaches, holders of Aave derivative receipts remain exposed to protocol-level composability and bad-debt risks. In April 2026, an exploit of the integrated KelpDAO platform led to the minting of approximately $292 million in unbacked rsETH, which was used as collateral to borrow wETH on Aave. This incident generated approximately $196 million in protocol bad debt, triggered a $6.6 billion drop in total value locked within 72 hours, and contributed to over $200 million in cumulative bad-debt losses across the broader protocol ecosystem, partially mitigated by an incomplete recovery effort raising around $160 million.