It started as an idea. Now it processes more lending volume than most people will ever see in a lifetime. Aave, the decentralized finance protocol that lets users borrow and deposit crypto without going through a traditional bank, has crossed $1 trillion in total cumulative lending — a milestone that has never been reached by any other protocol in the DeFi industry.
From A 2017 Startup To A Trillion-Dollar Lending MachineAave crossed $1 trillion all-time loans.
Over the past 30 days alone, Aave generated more than $83 million in fees — nearly four times more than its nearest competitor, Morpho. Other well-known lending platforms including JustLend, SparkLend, Maple, and Compound Finance each hold over $1 billion in total value locked, but none come close to matching Aave’s scale.
His longer-term ambitions are even bigger. Kulechov has said he wants Aave to become the largest and most efficient liquidity network on the planet — one that banks, builders, and financial technology companies connect to by default.
Big Finance Names Are Already At The TableFeatured image from BTCCard, chart from TradingView
