Funds locked in Aave soar past $20 billion amid layer-two embrace

Funds locked in Aave soar past $20 billion amid layer-two embrace

Aave has surged to the top of the DeFi ranking by total value locked (TVL) amid its recent embrace of layer-two for scaling.

According to Aave’s website, the v2 and Polygon deployments of the popular crypto-powered money market protocol currently represent more than $20 billion in locked capital, holding more than $12.6 billion and $7.8 billion in the respective versions.

According to DeFi Llama, Aave v2 is currently the largest decentralized protocol by assets locked, while Aave’s Polygon deployment would rank fourth despite launching just six weeks ago.

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Aave’e embrace of layer-two solution, Polygon, appears to have bolstered its adoption compared to other leading DeFi protocols

Using data provided by Dune Analytics, Twitter user “DeFi Dividends” found that the share of Aave’s monthly userbase represented by new users is roughly 50% greater than either MakerDAO and Compound, with 44% of Aave’s users comprising newcomers in May compared to 29.8% for MakerDAO and 26.3% for Compound.

Excluding its Polygon deployment, Aave outpaces Compound’s total value

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