Aave’s new Monad market tops $100 million in deposits two days after launch
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★ Tier-1 Source
Deposits on Aave's newly launched Monad market surpassed $100 million on Saturday morning, according to TokenLogic on X, roughly two days after the lending protocol went live on the network.
Key facts
- Monad (MON) is the high-throughput, EVM-compatible Layer 1 network built by former Jump Trading developers that launched its mainnet and MON token on Nov. 24 of last year
- Deposits topped $75 million within the first 24 hours, Aave said Friday
- Aave V4 separately crossed $250 million in deposits on Saturday, per Kulechov
- Can't wait to see Aave to grow towards [$1 billion] with more crypto-backed loans and expanding to securities backed-lending
Summary
Aave (AAVE), the largest decentralized lending protocol, deployed V3 on Monad on Thursday, bringing lending, borrowing, and its GHO stablecoin to the chain for the first time. Deposits topped $75 million within the first 24 hours, Aave said Friday. Monad (MON) is the high-throughput, EVM-compatible Layer 1 network built by former Jump Trading developers that launched its mainnet and MON token on Nov. 24 of last year. The early inflows are substantial relative to the size of Monad's DeFi ecosystem.