Wrapped Aave Ethereum Lido GHO
WAETHLIDOGHO
Evaluation Score
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Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WAETHLIDOGHO (Wrapped Aave Ethereum Lido GHO) functions as a non-rebasing wrapper receipt token for GHO deposited within Aave v3's Ethereum Lido market. Upstream protocol fundamentals are strong, benefiting from the Aave DAO's rigorous governance, active smart contract upgrades (including v3.7 deployments in May 2026), and a comprehensive multi-firm audit profile (OpenZeppelin, ABDK, Certora, Sigma Prime) with zero historical exploit losses. However, as an independent asset, WAETHLIDOGHO exhibits severe standalone weaknesses: it lacks dedicated developer initiatives, has negligible secondary market liquidity (~$6K), no standalone community or communication channels, and a concentrated holder base of around 70 addresses. Furthermore, holding the wrapper compounds GHO peg and smart-contract exposure while offering redundant utility relative to interacting directly with Aave. No qualifying red-flag events or data gaps were identified.
Development Activity
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Community Support
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Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped Aave Ethereum Lido GHO (WAETHLIDOGHO)
Wrapped Aave Ethereum Lido GHO (WAETHLIDOGHO) is an ERC-20 token on the Ethereum Mainnet that functions as a non-rebasing wrapper receipt token for GHO deposited into the Aave v3 Ethereum Lido market. It represents an interest-bearing aEthLidoGHO position, allowing users to hold an asset derivative of Aave's Lido market yield dynamics and wstETH collateral usage. The token does not have an independent development roadmap or dedicated team, relying entirely on the underlying Aave v3 protocol infrastructure and smart contract deployments.
Governance of the token and its underlying market parameters is administered on-chain by the Aave DAO. While the wrapper itself lacks dedicated audits, the underlying GHO token and Aave protocol maintain a security history reviewed by multiple audit firms, including OpenZeppelin, ABDK, Certora, and Sigma Prime. In November 2023, a technical vulnerability in GHO's variable borrow rate discount mechanism was identified; it was confirmed to be unexploited with no loss of user funds and was remediated through Aave governance proposal AIP 399 in December 2023.
WAETHLIDOGHO carries specific structural and market risks. As an independent asset, it exhibits low adoption, characterized by a micro market cap, a small holder base of approximately 70 addresses, and negligible secondary market liquidity of around $6,000 in its primary pool. Holding the wrapper token introduces layered exposure to wrapper contract implementation, Aave DAO parameter adjustments, and GHO stablecoin peg stability, while offering redundant functionality compared to directly interacting with the native Aave protocol.