Aave on Avalanche (AVAX) has reached $1 billion. Here’s why

After publishing Aave on the Avalanche (AVAX) blockchain, the value of assets deposited on the popular lending protocol increased by $1 billion in just hours.

The avalanche ecosystem is expansion The network also witnesses a pioneer flow of interest and liquidity, all backed by huge incentives.

cash flow

Read the network’s tweet, welcoming the publication of the lending protocol: “Aave is live on Avalanche – launch along with $20 million in AVAX incentives.”

.Tweet embed live on #Avalanche– Launch along with $20 million in dollar fax incentives.

…#AvalancheRush In full force this fall: https://t.co/8CNKNIEGtB pic.twitter.com/6mhppIsrDw

– Avalanche 🔺 (avalancheavax) October 4, 2021

Within hours after the launch, a massive influx of cash was recorded, with the total value of the closed Aave (TVL) in the avalanche exceeding $1 billion.

Aavelanche touched Billy 🥳 Congratulations to the Aave & Avalanche communities pic.twitter.com/iOQaP25iU8

– They keep building and supporting each other (👻, 🐻‍❄️) 👘 (StaniKulechov) October 4, 2021

TVL avalanche could continue to increase since the Avalanche Bridge (AB) allowed assets to be moved to and from Ethereum (ETH).

Those users who have assets on Ethereum can now connect them via Tweet embed To deposit in the Aave protocol. https://t.co/3xA1CPrsc2

– Aave (AaveAave) October 4, 2021

Aave currently records about $15.17 billion in TVL, of which $12.18 billion is on Ethereum, and $1.98 billion is on Polygon (matic), and most recently, $1.01 billion on avalanche, according to DeFi Llama’s data.

Currently, Avalanche’s TVL is worth $4.4 billion, with its original protocols in control. BENQI lending market records $1.19 billion, while Trader Joe’s DEX records $1.17 billion in TVL.

Incentives and Dapps

With a forced transfer rate, allowing more than 4,500 transactions per second (TPS), Avalanche positions itself as a fast and energy-efficient competitor among Proof of Stake (PoS) blockchains.

TVL’s avalanche has seen a significant uptick recently, particularly after the launch of the new protocol’s DeFi incentive program.

dubbed Avalanche RushA $180 million liquidity mining grant and airdrop program were launched with the goal of bringing together the network’s best DeFi protocols, Aave and Curve, to begin with.

Aave enables users to borrow and lend cryptocurrency while offering attractive interest on deposits, and Curve, a liquidity pool for exchanges on Ethereum, facilitates trading of stablecoins.

We called Tweet embed!

It’s still a work in progress (it will be more), but here’s a link to ape https://t.co/Vkr1kUgyO0

Curve Finance October 4, 2021

The impetus came after the launch of AB, a cross-chain bridging technology that moves assets between blockchains.

Avalanche Rush, in association with AB, is supposed to offer strong incentives for liquidity and a seamless user experience for the protocols within the ecosystem.

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