Aave vs Moonwell

How Aave vs Moonwell compare on our ratings, lending protocol specs, funding, pros and cons.

Aave4.0/5

Feature	Aave Visit	Moonwell Visit
Ratings
Our score	4.0/5	3.0/5
User rating	No reviews yet	No reviews yet
Security & track record	3.5	1.5
Rates	3.5	3.5
Market depth	5.0	3.5
Ease of use	3.5	4.0
Decentralization	4.5	3.5
Specs
KYC required	No	No
Lending model	Pooled	Pooled
Chains	Ethereum, Base, Arbitrum, Avalanche, BNB Chain, Other	Base, Optimism, Ethereum
Main collateral assets	USDC, USDT, WETH, wBTC, LINK, wstETH, cbBTC, GHO, AAVE, ETH-correlated assets	ETH, USDC, USDT, cbBTC
Flash loans	Yes	Not disclosed
Permissionless markets	No	Not disclosed
Audited	Yes	Yes
Bug bounty	Yes	Yes
Governance token	AAVE	WELL
Isolated markets	Yes	Yes
Real-world-asset collateral	Yes	Not disclosed
Own stablecoin	Yes	No
Rates	Variable	Variable
Company
Founded	2017	2022
Headquarters	Finland	Finland
Investors	Blockchain Capital, Framework Ventures, Standard Crypto	Arrington Capital, Hypersphere, C Squared, Charterhouse Strategic Partners +10
Strengths and weaknesses
Pros	$18.006B combined TVL in October 2026 Operates across 23 blockchain networks Non-custodial wallet-based access V3 includes Isolation Mode and Efficiency Mode	No KYC checks or account registration required to lend or borrow Smart contracts audited by firms including Halborn and Code4rena Integration with Morpho for automated onchain yield vaults
Cons	Variable borrowing rates can rise with market utilisation Liquidation can sell collateral after health-factor deterioration Smart contract and oracle risks remain Collateral depends on external bridges and asset issuers	Suffered an $8.7M oracle manipulation exploit on Base in August 2026 cbETH oracle misconfiguration in February 2026 triggered $1.78M in bad debt Core market borrowing on Base was halted following security incidents
Best for	Multi-chain DeFi borrowers, Collateralised crypto lending, Stablecoin liquidity strategies	DeFi lenders on Base and Optimism, Borrowers supplying ETH or stablecoin collateral, Yield aggregators integrating Morpho vaults

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