Aave said the figure is the highest ever across decentralized finance protocols.
Aave, a decentralized finance (DeFi) protocol, has reached a new record of funds onchain, according to data from DefiLlama.
In an X post, Aave said it topped $40.3 billion in total value locked (TVL) on May 12. Onchain data reveals that Aave v3, the latest version of the protocol, has approximately $40 billion in TVL.
Aave is a DeFi lending protocol that lets users borrow cryptocurrency by depositing other types of cryptocurrency as collateral. Meanwhile, lenders earn yield from borrowers.
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