Aave isn’t just big for DeFi. It’s the largest lending protocol in the sector by a mile, with more than $50 billion in assets deposited across its markets. That’s a balance sheet that would slot it roughly into the ranks of the top 50 U.S. banks by assets if it were a traditional institution.
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Stani Kulechov, founder of Aave and developer Aave Labs, has a straightforward version of what he’s building: “Aave will be the backbone of all credit,” he said. Not just leverage for crypto traders, but mortgages, credit cards, consumer and business loans, even sovereign debt — with DeFi running quietly in the background.
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The path there runs on two rails. On the consumer side, the upcoming Aave
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