Aave on Avalanche (AVAX) is just hitting $ 1 billion, here’s why
After Aave was deployed on the Avalanche (AVAX) blockchain, the Total Value Locked (TVL) of this credit protocol rose by $ 1 billion in just a few hours. The Avalanche ecosystem is growing as more and more people pay attention to its network and liquidity.
“Aave is live on Avalanche – started with an AVAX Incentive Bounty of US $ 20 million,” the network expressed its appreciation for the implementation of the credit protocol.
An impressive amount of liquidity was seen within hours of launch as Aaves Total Value Locked (TVL) on Avalanche topped $ 1 billion. TVL on Avalanche could continue to rise as Avalanche Bridge (AB) enables wealth transfers to and from Ethereum. Aave currently lists around $ 15.17 billion in TVL, of which $ 12.18 billion for Ethereum, $ 1.98 billion for Polygon (MATIC) and recently $ 1.01 billion for Avalanche, so the data of DeFi Llama.
Currently, Avalanche TVL is valued at $ 4.4 billion, with its native protocols dominating the market share. The BENQI loan market is trading at $ 1.19 billion, while Trader Joe DEX follows at $ 1.17 billion at TVL.
With its enormous throughput, which enables over 4,500 transactions per second (TPS), Avalanche positions itself as a super-fast and energy-efficient competitor among the current Proof of Stake (PoS) blockchains. TVL on Avalanche has risen significantly lately, especially after the protocol’s new DeFi incentive program was launched.
Known as the Avalanche Rush, the $ 180 million liquidity mining and airdrop program was launched with the aim of bringing some of the best DeFi protocols to the network, Aave and Curve.
Aave allows users to borrow and lend cryptocurrencies while offering attractive rates on deposits, and Curve, a liquidity pool on Ethereum, makes trading stablecoin easier. This dynamic follows the introduction of AB, a cross-chain bridging technology that supports the transfer of assets between chains. Avalanche Rush, in partnership with AB, is designed to provide strong liquidity rewards and a seamless user experience for logs in the ecosystem.
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mango
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Aave on Avalanche (AVAX) is just hitting $ 1 billion, here’s why
After Aave was deployed on the Avalanche (AVAX) blockchain, the Total Value Locked (TVL) of this credit protocol rose by $ 1 billion in just a few hours. The Avalanche ecosystem is growing as more and more people pay attention to its network and liquidity.
“Aave is live on Avalanche – started with an AVAX Incentive Bounty of US $ 20 million,” the network expressed its appreciation for the implementation of the credit protocol.
An impressive amount of liquidity was seen within hours of launch as Aaves Total Value Locked (TVL) on Avalanche topped $ 1 billion. TVL on Avalanche could continue to rise as Avalanche Bridge (AB) enables wealth transfers to and from Ethereum. Aave currently lists around $ 15.17 billion in TVL, of which $ 12.18 billion for Ethereum, $ 1.98 billion for Polygon (MATIC) and recently $ 1.01 billion for Avalanche, so the data of DeFi Llama.
Currently, Avalanche TVL is valued at $ 4.4 billion, with its native protocols dominating the market share. The BENQI loan market is trading at $ 1.19 billion, while Trader Joe DEX follows at $ 1.17 billion at TVL.
With its enormous throughput, which enables over 4,500 transactions per second (TPS), Avalanche positions itself as a super-fast and energy-efficient competitor among the current Proof of Stake (PoS) blockchains. TVL on Avalanche has risen significantly lately, especially after the protocol’s new DeFi incentive program was launched.
Known as the Avalanche Rush, the $ 180 million liquidity mining and airdrop program was launched with the aim of bringing some of the best DeFi protocols to the network, Aave and Curve.
Aave allows users to borrow and lend cryptocurrencies while offering attractive rates on deposits, and Curve, a liquidity pool on Ethereum, makes trading stablecoin easier. This dynamic follows the introduction of AB, a cross-chain bridging technology that supports the transfer of assets between chains. Avalanche Rush, in partnership with AB, is designed to provide strong liquidity rewards and a seamless user experience for logs in the ecosystem.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
mango
According to Cryptoslate
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