• Aave’s V3 iteration on the Ethereum network welcomed 10,000 unique addresses in just under six months.
• The total value of assets locked (TVL) within the decentralized finance (DeFi) platform has grown by 60% since its launch in January.
• Aave has surpassed MakerDAO to become the second-largest DeFi protocol with a TVL of $2.1 billion.
Aave V3 Reaches Milestone On Ethereum
Aave’s V3 launched on Ethereum in January and its total value of assets locked (TVL) within the decentralized finance (DeFi) platform has grown significantly since then. Its unique user count recently reached 10,000, resulting in an increase of over 300% in TVL since 1 January and surpassing MakerDAO to become the second-largest DeFi protocol with a TVL of $2.1 billion.
V3 Launch And Growth Of Unique Addresses
The Aave V3 iteration was deployed on the Ethereum network eleven months ago following unanimous support from community members, and since then has attracted $2.24 billion in deposits and $756.93 million in loans according to data from the lending protocol. This resulted it reaching 10,000 unique addresses as of July 20th, 2023 – a milestone achieved in under six months from its launch date.
Growth Of Total Value Locked
As Aave’s usage expanded post-V3 launch, so did their TVL growth which now stands at $6.12 billion having been at only $3.82 billion as of 1 January 2023 – an increase of 60%. It is now ahead MakerDAO which currently holds a TVL of $5.31 billion – 15% lower than it was as of 1 January this year when it stood at 6$31billion .
Deployment Across Multiple Blockchains
Upon launching V3 back in March 2022, Aave deployed versions across multiple blockchain networks including Polygon [MATIC], Arbitrum [ARB], Avalanche [AVAX], Fantom [FTM], Harmony and Optimism [OP]– leaving the deployment onto Ethereum up to a future vote amongst its community members which unanimously supported its launch 11 months later on that chain specifically..
Conclusion
Since launching V3 onto Ethereum back in January this year, Aave’s usage has seen significant growth leading to an impressive increase in their TVL and surpassing MakerDAO as the second-largest DeFi protocol after Lido Finance [LDO]. As it stands currently, Aaves’ TVL sits at over 6$12billion with over 10k unique addresses connected to their lending protocol