{
  "schema_version": "1.3",
  "dao": "Aave",
  "token": "AAVE",
  "slug": "aave",
  "snapshot_space": "aavedao.eth",
  "structure_label": "S1",
  "as_of": "2026-10-01",
  "first_scored": "2026-09-01",
  "determinations": {
    "GSA1": "pass",
    "GSA2": "near-miss",
    "GSA3": "fail",
    "GSA4": "fail",
    "GSA5": "near-miss",
    "GSA6": "fail",
    "GSA7": "fail",
    "GSA8": "fail"
  },
  "tier": "Tier 2",
  "tier_name": "Procedural Rights — on-chain governance, no economic rights",
  "key_finding": "Full on-chain AIP governance (Governor Bravo-style, app.aave.com/governance) with ARFC temp-checks on aavedao.eth Snapshot — AAVE holders control the treasury via on-chain proposal execution. But economic rights are discretionary: buybacks are committee-directed (Aave Finance Committee + TokenLogic, $50M/yr cut to $30M/yr, PAUSED Apr 2026 after rsETH incident), and the Aavenomics 3.0 automated on-chain buyback routing all protocol+GHO revenue to AAVE is proposed but not yet implemented.",
  "flags": [
    "GSA-1 pass with delegation flag: treasury control is on-chain via AIP, but bounded allowances are delegated to stewards (MainnetSwapSteward, Risk Stewards) and an emergency Protocol Guardian multisig holds pause/freeze powers — all revocable via AIP",
    "GSA-3 fail (soft): buybacks are discretionary governance approvals, not a hardcoded revenue router; program paused Apr 2026. Aavenomics 3.0 (automated buyback) pending — would upgrade to near-miss/pass if implemented",
    "GSA-2 near-miss: no standing elected council; service providers and Protocol Guardian powers are removable via full governance cycle, but there is no direct recall mechanism",
    "GSA-5 near-miss: strong disclosure cadence (monthly treasury reports, risk framework, Aavenomics transparency) but not contract-enforced",
    "Risk Stewards on Aave V4 approved on-chain 2026-09-29 (AIP#523), payloads queued — bounded-parameter event blocks to be recorded at execution; no cell move"
  ],
  "exercisability": {
    "control_cost_usd": null,
    "control_cost_pct_mcap": null,
    "control_path": null,
    "control_stack": null,
    "capture_feasibility": null,
    "hard_flow_ratio": null,
    "exit_premium": null
  },
  "anti_capture_flag": "none",
  "methodology": {
    "name": "Probity Institute GSA Methodology",
    "version": "0.1-frozen",
    "license": "CC-BY-4.0",
    "note": "A GSA score is a verified statement that specific governance rights are enforced by a specific smart contract at a specific block. Not a security rating, not investment advice, not a statement about team quality."
  },
  "source_dataset": {
    "file": "rights30.json",
    "sha256": "8b8f5fd96cae6fa548edb26c1e8129eb161461c902fdd3f719dbdba4f334385a"
  },
  "links": {
    "token_page": "/tokens/aave.html",
    "matrix": "/rights30.html"
  }
}