Aave, the largest decentralized finance (DeFi) borrowing and lending protocol managing over $70 billion in assets, has officially launched on the Aptos blockchain. This deployment marks Aave's first expansion beyond Ethereum Virtual Machine (EVM)-compatible chains and is the first Move language deployment for the platform. The launch on Aptos integrates Chainlink Price Feeds to enhance market security and is supported by liquidity rewards from the Aptos Foundation to encourage adoption. Aptos' DeFi ecosystem is rapidly maturing, with protocols like Amnis Finance and Echo seeing significant total value locked (TVL) growth, reaching $390 million and $250 million respectively. Aave V3's presence on Aptos signifies recognition of top-tier DeFi protocols on the network, which now hosts over $540 million in real-world assets. Aave accounts for approximately 38% of Arbitrum's DeFi TVL and, if considered as a U.S. bank, would rank as the 37th largest by assets. The Aptos blockchain offers improved speed and usability, processing transactions faster than Ethereum's approximately 15 transactions per second. This strategic move by Aave Labs reflects ongoing efforts to expand market share and utility in the crypto space.
Aave V3 Live on Aptos, marking its first non-EVM deployment. Last week's DeFi Narratives - a click away : https://t.co/qlBqNrxtOo
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Cap Money Launches on Ethreum, introducing cUSD and stcUSD, along with apoint based Frontier Program. Last week's DeFi Narratives - a click away : https://t.co/qlBqNrxtOo