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Aave tops $100 million in deposits on Monad two days after launch

Decentralised lending protocol Aave has surpassed $100 million in deposits on the Monad blockchain, The Block reported on Friday, citing TokenLogic. The milestone came two days after Aave began services on Monad. Monad is an EVM-compatible layer 1 built by former Jump Trading developers. Monad’s total value locked stood at about $359.5 million as of June 8. The deposits include incentives from the Monad Foundation and Aave DAO.

Crypto

Aave deploys V3 lending protocol and launches GHO stablecoin on Monad

Aave has deployed its V3 lending protocol on Monad and begun supporting 12 assets, including the GHO stablecoin. The Monad Foundation plans to provide $15 million in incentives during the first 12 months after service activation. The deployment applies Chainlink Smart Value Recapture from the start, returning part of value generated during liquidations to the protocol. The Monad Foundation will buy 10 million GHO and hold it for at least six months.

Crypto

Aave founder denies report of Kraken talks to buy Aave stake

Aave founder Stani Kulechov denied a report that Kraken parent Payward is negotiating to acquire a 15 percent stake in Aave for $385 million, The Block reported on June 26. Kulechov said on X that he would not sell Aave at a 70 percent discount. He did not rule out a sale of some AAVE tokens held by Aave Labs and said discussions had taken place with market participants about direct or indirect purchases and deeper long-term partnerships.