Aave Protocol has passed Maker and Curve to reach the number one spot, according to DefiPulse. This is a day after Aave received a license authorizing Aave’s UK entity as an electronic money institution.
A total of $1.42 Billion USD is reported to be locked in staked and lending products offered by Aave. Considering their recent launch, the growth can be characterized as astronomical.
Leading DeFi Industry Growth
Aave rebranded from EthLend, having launched on Nov. 2017, their new brand comes from the word for “ghost” in Finnish. Their growth over the last 2 months has lead the DeFi industry as it continues to scale.
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