The decentralized finance (defi) open-source protocol built on Ethereum, Aave, has surpassed the Maker Dao project in terms of total-value-locked (TVL) this week. The lending and borrowing platform Aave has $1.43 billion locked on Tuesday climbing 7.7% in the last 24-hours.

On August 25, the defi project Aave (the Finnish word for ‘ghost’) has seen it’s TVL supersede the Maker Dao project. Essentially Aave is an open-source, noncustodial protocol that has allowed individuals to stake credit lines by leveraging a myriad of digital assets.

After the first month of launch, Aave’s protocol TVL had over $5 million in liquidity locked and it jumped 28,500% since then. At the time of publication, Aave is the top defi application on the website defipulse.com representing $1.43 billion locked into the protocol.

Aave Protocol Outpaces Maker With $1.4B Locked, Defi Project Granted UK Electronic Money License
On Tuesday, August 25, 2020, the Aave protocol’s TVL reached $1.43 billion.

Maker Dao holds around $1.42 billion on Tuesday, as the lending protocol Maker is usually the top defi app in terms of TVL.

Basically, Aave (previously…

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Source: https://news.bitcoin.com/aave-protocol-outpaces-maker-with-1-4b-locked-defi-project-granted-uk-electronic-money-license/