Aave, one of the largest decentralized credit protocols, was able to increase his net deposits to $ 100 billion before the end of this year, according to the founder of the platform, Stani Kulechov.
In a post of 10 August on X, Kulechov explained that the current growth rate of the Defi protocol could push it earlier than expected.
Antonio Garcia-Martinez, director of basic advertisements in Coinbase, claimed that the $ 100 billion scale would place an Aave among the 35 largest banks in the world and on the same footing with Deutsche Bank.
In particular, the statistics of the American Federal Reserve are re -comparing Aave’s DepositOolume 41st among American commercial banks. That places the Defi giant prior to established traditional financial institutional names such as Barclays.
These bullish positions are not surprising, since Aave has experienced a strong upward route this year.
In July, the protocol surpassed $ 50 billion in net deposits for the first time and has added $ 11 billion since then, which brings the total to $ 61.1 billion from the moment of the press.
Data from Token Terminal shows that this gives a commander of 66.7% to the share of $ 91.7 billion Defi -credit market. For comparison: the next biggest competitor, Morpho, has only $ 7.7 billion in deposits, making Aave almost eight times larger.
What drives Aave’s growth?
Aave’s remarkable growth is a product of its Defi roots and reflects increasing interest from traditional financial and fintech companies.
A good example is the recent disclosure through an Ethereum-oriented Treasury Company, the Nasdaq-Genten Blockchain Technology Consensus Solutions (BTCs), which uses the Aave to generate yield and to strengthen its ETH interests.
Aave’s growth can also be linked to Ethena’s used Stablecoin, which has seen significant deposits in the credit protocol.
According to Dise Analytics data, $ 6.4 billion in Ethena’s assets are parked on Aave, which quickly increased in just 10 days.
However, Usde’s growing exposure to Aave is some risks for the growing footprint of the Defi protocol.
Risk management company Chaos Labs recently warned that the growing presence of usde liquidity pressure could cause. The company pointed to extensive rehypothecation, in which collateral is reused between transactions, warning that systemic leverage could strengthen market risks.
