Decentralized lending protocol Aave has set a new benchmark for the sector, with total value locked climbing to roughly US$40 billion, surpassing the customer deposit base reported by fintech firm Revolut. Borrowing activity on the platform also reached an all-time high, while the AAVE governance token broke through the US$300 level amid continued inflows—about US$300 million in Tether and US$133 million in staked Ether—into the protocol. The surge in on-chain liquidity coincides with Aave’s expansion to Soneium, a Sony-backed Ethereum Layer-2 network aimed at mass adoption. The deployment, which went live on 10 June, makes Aave’s lending and borrowing markets available to more than six million wallet addresses and initially supports the stablecoin GHO, USDT0, USDC.e and wrapped Ether. Aave said the move forms part of a broader strategy to extend decentralized financial services to a wider audience. The rollout on Soneium is being carried out in partnership with Plasma Foundation, which described access to credit as a foundational but still unmet need for billions of people worldwide. The protocol’s financial position remains robust, with analytics firms estimating Aave’s treasury at roughly US$90 million, excluding its own token holdings. The latest milestones underscore Aave’s growing influence in decentralized finance as traditional and blockchain-based financial platforms increasingly vie for user deposits and lending activity.