Aave Hits $1 Billion In Total Value Locked

Aave (The Block Crypto)
Aave (The Block Crypto)

Aave became the second DeFi protocol to hit the $1 billion mark in total value locked. The milestone means that users who are associated to the non-custodial lending and borrowing protocol have deposited $1 billion worth of assets.

This significant rise comes after Aave announced its new version of protocol. It has prepared new features for its users including native undercollateralized loans/credit delegation, improved borrow rates, and debt trading.

Before, Aave – MakerDAO – became the first DeFi protocol to achieve the feat. MakerDAO had achieved the milestone before three weeks.

Defi Pulse said that nearly $6 billion assets are currently locked in DeFi protocol.