Less than a month ago, Ethereum’s greatest dApp, the lending process MakerDAO, now. For a while, it seemed lending protocol Substance might be the second to attain the $1 billion total worth locked (TVL) tag, with TVL essentially meaning “possessions under management.
Aave Ascending
Among other activities, these developments are the following intrigues:
- The introduction of Credit Delegation, which lets users delegate crypto lines of credit.
- The introduction of Aave V2, which grant users new protocol features and optimizations.
- The introduction of Aavenomics, a fresh token system which will migrate LEND to AAVE.
- These rollouts took place as 1) Aave’s main offerings have already been proven in the open for months now, 2) the project’s community is blooming, and 3) the DeFi sector has been catching fire generally.
- The rise of Aavegotchi, a promising DeFi-NFT gaming meld. Taken altogether, the effect has been rapid growth for the Aave protocol, that is now the second-largest DeFi dApp with a TVL of $1.15 billion at press time.
Of course, compound, or yEarn for the near future.
Even still, the protocol’s a force to be reckoned with, and it’s here to remain.
Curve Joins the Club
1 day after Aave secured its $1 billion TVL milestone, Curve, the decentralized stablecoin exchange that’s among Ethereum’s breakout hits this season, became the third project going to that mark.
Next Contenders Up
At the rate DeFi has been growing this season and specifically in recent weeks, it appears likely that we’ll visit a handful projects cross the $1 billion TVL mark in the months ahead.
For the present time, lending protocol Compound, all three projects have already been on a tear up to now.
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