Decentralised finance protocol Aave has surpassed $1 trillion in cumulative lending volume, becoming the first DeFi platform to reach the milestone as it pushes deeper into bank and fintech integrations.
The protocol currently secures more than $27.2 billion in total value locked and generated $83.3 million in fees over the past 30 days, nearly four times more than its closest competitor, Morpho.
“A decade ago, DeFi and Aave didn’t exist. They were just ideas. Today, Aave stands as the backbone of onchain lending, powering a new financial system that is open, global, and unstoppable,”
Said Aave Labs chief executive, Stani Kulechov.
Kulechov said the long-term objective is to become the “largest, most efficient liquidity network in the world,” positioning Aave as default infrastructure for builders, banks and fintech firms seeking blockchain-based liquidity solutions.
In August, Aave Labs launched Aave Horizon on Ethereum to serve institutional borrowers seeking stablecoin liquidity against tokenised real-world assets, with early participants including VanEck, WisdomTree and Securitise.
The milestone coincides with internal governance tensions, as AAVE token holders consider approving a package worth up to $42.5 million in stablecoins and 75,000 AAVE for Aave Labs in exchange for routing revenue from Aave-branded products to the DAO treasury.
Originally launched as ETHLend in 2017 before rebranding in 2018, Aave remains the dominant DeFi lending protocol by total value locked, ahead of platforms such as Morpho, JustLend and Compound Finance, as it seeks to expand its role in institutional liquidity markets.
At the time of reporting, Aave price was $118.71.