what's aave?
Aave is a leading DeFi crypto lending protocol with over $50 billion in net deposits and a market cap of $4.07B. The project generated over $90M in fees during September 2025, setting pace for a monthly all-time high, though only $12M stayed with the protocol. Active USDC loans have surged 150% since the start of the year, helping Aave maintain its leadership position in active loans within the DeFi space. The protocol is preparing to launch its V4 update by the end of 2025, promising a major transformation of the ecosystem. Aave has achieved significant growth on the Plasma network, reaching $5.5B market size in just 3 days and representing 81% of Plasma's total activity. The platform continues to expand with new features including liquidity incentives through Aave Arc and lower interest rates to attract more users.
Founder acquired AAVE tokens; protocol had $4.6B liquidations, $4.73M revenue, RLUSD deposits grew.
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RLUSD borrow rate on Ethereum is approximately 3.58% variable as of February 2026.
Generated roughly 2× more annual revenue than the other top 10 lending protocols combined.
wrsETH became available for trading and liquidity provision on Merchant Moe DEX on the Mantle network.
Liquidated $500M in collateral automatically during the week ending February 11, 2026.
IPOR published a pre-integration preparation article for integrating with Aave.
Offers 9% yield with $1 million protection.
Integrated Centrifuge's JAAA and JTRSY tokens into Aave Horizon.
Integrated with Theoriq's AlphaVault 2.0 upgrade, which added leveraged looping functionality on Aave alongside Pendle integration.
Integrated with Chainlink Scale oracle on mainnet launch, providing day-one access to Aave, GMX, and Lido wstETH price feeds.
Expands to Mantle network.
Launched v3 on Mantle on February 11, 2026.
Reached approximately $30 million in additional TVL following the listing of PT-srUSDe a few days prior to February 11, 2026.
Co-founder Stani is an angel investor in Aztec Network.
Earns $157 million in annualized revenue and deploys it into structured buybacks.
Completed security audit by Trail of Bits for Aave V4.
Proposes mandatory compensation disclosures and stricter conflict-of-interest voting norms to strengthen transparency and ethical governance across the DAO.
Deployed on MegaETH network on February 10, 2026.
Garrett Jin repaid a loan on Aave using 77.48M USDT withdrawn from Binance.
Hiring for three positions: Senior Graphic Designer (EU/UK), Consumer Product Marketing Manager (SF, NYC, London), and Senior Event Marketing Manager (London).
Increased token buybacks by 52% during recent market volatility while token price declined 23%.
USDT lending on V3 Ethereum has reached $6B supply at 1.87% APR, while USDC has reached $4B supply at 2.23% APR, with both yields declining due to reduced borrowing demand.
Share of DeFi TVL grew from approximately 8% to 28% over the past two years.
ETH deposits on the Ethereum Core market reached an all-time high in January 2026.
Integrated as the underlying protocol for Flying Tulip's ftUSD stablecoin at launch, functioning as a USDC wrapper.
Serves as the primary yield deployment venue for Flying Tulip's $1 billion deposit cap, where 100% of depositor funds are currently allocated.
New Ethena markets, including PT-srUSDe, are scheduled to launch on Aave in May 2026.
Hiring a Staff DevOps Engineer for a full-time remote position in Australia, New Zealand, or Singapore.
Flayer Labs supplies over 5% of the total ETH deposited in Aave on Base as of February 9, 2026.
Surpassed Klarna in AUM, reaching $18.6 billion.
Experienced a crash during the February 2026 market downturn, with the project categorized among DeFi blue chips that were "hammered" in the crash alongside UNI and MKR.
Reached peak TVL of over $74 billion in 2025.
Trend Research liquidated 651,757 ETH ($1.34 billion) from $1.2 billion ETH longs with a $1,835 liquidation level, moving to Binance between February 5-9, 2026, resulting in an estimated $747 million loss at an average exit price of $2,055.
Received $588.3M in whale inflows over a 24-hour period ending on 2026-02-08.
Supports agentic credit lines as AI borrows funds.
Founder Stani.eth acquired 3,072.7 AAVE tokens by swapping 1,700 ETH (valued at $3.53 million) through single-sided liquidity provision over a 13-hour period ending on 2026-02-07.
Crossed $4.6 billion in all-time cumulative liquidations as of February 5, 2026.
Generated approximately $4.73M in revenue from Chainlink SVR integration on Ethereum Core V3 market in the past week, with SVR recapturing non-toxic liquidation MEV and returning value to the protocol.
RLUSD deposits on Aave increased by approximately 300% in H2 2025, from approximately $200M to approximately $800M.
Founder Stani Kulechov sold 4,503 ETH ($8.36M) at $1,857 on February 5th, 2026.
A whale deposited 9,484.5 ETH into Aave after previously selling 6,899.5 ETH at an average price of $2,052.
World Liberty Financial sold $11.7M in wrapped Bitcoin on February 5th, 2026 to avoid liquidation on its Aave USDC loan position.
LlamaRisk published research on Aave V4 Reinvestment Controller designed to boost capital efficiency.
DAO treasury reached $89 million.
Integrated with Rabby mobile app to enable borrowing and earning yield directly within the app.
deployed on Base Sepolia testnet with deposit, borrow, repay, and withdraw functionality
GHO stablecoin generated approximately $14 million in annualized revenue by end of 2025.
Reached over $50 billion in total deposits across all deployments.
Voting to shut down deployments on zkSync, Metis, and Soneium due to low usage and lack of organic growth.
Founder Stani Kulechov purchased a £22 million Victorian mansion in London's Notting Hill in November 2025.
Experienced significant liquidations of large BAL positions overnight, leading to notable price volatility.
Deployed GHO on Mantle network, leveraging Bybit's user base with 10 million MNT and GHO allocated as incentives.
Liquidated over $140M in collateral across multiple networks on January 31, 2026 during a market stress test, with all liquidations executed automatically without issues.
Will be supported on Lighter EVM, a new platform launching EVM support to enable DeFi applications including Aave to run on its infrastructure.
experienced delayed liquidations on October 10, 2025, due to Ethereum mainnet congestion during a flash crash, with some users unable to add collateral or repay in time due to transaction fees reaching $400-$600+ for complex DeFi actions, leading to forced closures at unfavorable prices.
Integrated with Lombard Finance's LBTC token, providing DeFi composability alongside other protocols including Morpho, Pendle, Curve, and Uniswap.
Ranks third by 7-day fee generation, behind USDT and USDC, and ahead of HYPE and JUP, as of January 28, 2026.
Uses a buyback token revenue model with a 75x price-to-revenue multiplier, compared to fee-sharing protocols with lower multipliers.
Added syrupUSDC as a new asset on Base deployment with an initial deposit cap of $50M.
Reclaimed over 50% of the DeFi lending market share for the first time since 2020.
A whale deposited 61,000 ETH (valued at $174.3 million) into Aave and borrowed 60 million USDC from Aave on January 26, 2026.
Integrated with Otto AI's "Earn Yield" service on Virtuals ACP, enabling natural language deposits to Aave vaults across 6 chains.
Included in a tier list of crypto narratives for 2026 under "Neo Finance" S-tier category alongside tokenized commodities, insurance, stocks, yield-bearing stables, and sustainable yields from profitable businesses.
Integrated with Maple Finance on Ethereum, Base, and Plasma, accepting syrupUSDC and syrupUSDT as collateral, launched September 2025.
Ranked 7th among top 10 DeFi projects by development activity in January 2026 according to Santiment, maintaining the same position as the previous month.
Transitioning Lens Protocol stewardship to a new team focused on decentralized social and encrypted communication features.
Credit delegation feature is now live on Aave through integration with Twyne.
ETH borrowing rate on Aave is between 2%-2.3%.
Trend Research deposited 9,939 ETH (worth $30.85M) into Aave V3 and borrowed $20M USDT against it.
Trend Research holds total borrowings of 1 billion USDT on Aave with 636,819 ETH ($1.98 billion) deposited as collateral.
A newly created wallet (0x919c) deposited 6,000 ETH (approximately $19.03M) into Aave on 2026-01-20.
Deployment to X Layer is in progress.
Eth Mainnet lending rate is 1.27% APY as of January 19, 2026.
Approached $1 trillion in total loans originated since launch as of January 2026.
Published a technical analysis evaluating the suitability of megaETH network for potential Aave protocol expansion following positive community signal.
Has approximately $23.7 billion in active loans across all deployments, with approximately $19.4 billion of those on Ethereum mainnet.
Launched USDG incentives program on January 14, 2026.
Reached over $400 million in PYUSD deposits on the protocol.
Hiring for three staff-level positions: Partner Solutions Architect in London/NY, Staff DevOps Engineer in Australia/New Zealand/Singapore, and Staff React Native Engineer in the US.
Proposes revenue distribution to token holders.
Market cap and holder count increased approximately 200% over the past year (from January 2025 to January 2026).
TVL doubled from January 2025 to January 2026.
Mentioned as an example of a DeFi application that banks could integrate with tokenized deposits for future composability, in context of GENIUS Act discussion.
partnered with Babylon Labs to build the first native BTC-borrowing on Aave v4, enabling BTC lending and borrowing without wrappers and bridges
Listed as a spot trading asset on Lighter exchange alongside UNI, LINK, SKY, and LDO.
Partnered with CoW DAO in 2025 to enable smoother trading across DeFi.
$1 billion USDT was withdrawn from Aave on Ethereum and moved to HTX Global on the Tron chain.
Mentioned as a DeFi protocol that can be used anonymously through RAILGUN_Project's EVM privacy layer.
Queued PT-USDe and PT-sUSDe (April 2026 maturity) markets from Pendle for execution on Aave on Plasma on 2026-01-07.
Reduced token emissions via the Umbrella upgrade.
A compromised multisig wallet withdrew 1,000 ETH ($3.24M) from Aave as part of a $27.3M exploit, with the attacker still holding a $9.75M leveraged long position on the platform ($20.5M in ETH against $10.7M in DAI).
Boosting yields for verified humans on SelfProtocol with 10-12% APY on WETH and USDT.
ETH deposited on Ethereum mainnet reached an all-time high.
Plans to launch Aave App targeting mainstream adoption of DeFi savings features in 2026.
Joined the Ethereum Protocol Advocacy Alliance in 2025 alongside Uniswap, Lido Finance, Curve Finance, Aragon Project, and Spark, a coalition of protocols powering over $100 billion in onchain assets focused on policy advocacy.
RLUSD lending market is live on Aave core on Ethereum with 5% APR.
Reached $87 billion in trading volume during 2025, starting from $2.5 million average daily volume on January 1st, 2025.
Bitwise submitted an application to the U.S. SEC for a Bitwise AAVE Strategy ETF on December 30, 2025.
Deposited 8,900 AAVE tokens (approximately $1.34M) into Coinbase Prime on December 29, 2025
ParaFi transferred approximately $30 million worth of AAVE tokens (representing 1% of total supply) to Coinbase on December 27, 2025.
Enabled E-Mode for wrsETH and WETH on Aave v3 Base market, increasing LTV and capital efficiency for looping strategies.