Aave V3 vs SparkLend: Risk & Value Comparison
Aave V3
SparkLend
Sector
Lending
Lending
Risk Score
51/100
32/100
Risk Grade
C-
B-
Value Score
79/100
42/100
Value Grade
B+
C-
TVL
$13.4B
$3.3B
FDV
$1.3B
—
Mechanisms
10
5
Interactions
7
4
Quadrant
Promising
Safe but Stale
Risk Dimension Comparison
Mechanism Novelty/ 15
Aave V3
0
SparkLend
3
Interaction Severity/ 20
Aave V3
14
SparkLend
8
Oracle Surface/ 10
Aave V3
5
SparkLend
3
Documentation Quality/ 10
Aave V3
1
SparkLend
2
Track Record/ 15
Aave V3
10
SparkLend
2
Scale Exposure/ 10
Aave V3
9
SparkLend
7
Regulatory Risk/ 10
Aave V3
5
SparkLend
4
Protocol Vitality/ 10
Aave V3
7
SparkLend
3
Value Dimension Comparison
Fee Capture/ 25
Aave V3
22
SparkLend
8
Token Distribution/ 25
Aave V3
14
SparkLend
12
Emission Sustainability/ 25
Aave V3
20
SparkLend
12
Competitive Moat/ 25
Aave V3
23
SparkLend
10
Verdict
SparkLend is the safer protocol with a risk score of 32/100 (B-) compared to 51/100 (C-).
Aave V3 has stronger value accrual (B+, 79/100) compared to C- (42/100).