Aave April Newsletter
Aave introduced April Update: Record growth, liquidity incentives, & governance power distribution.
April was an exciting month full with new governance proposals votes. This excitement was reflected in the Aave Protocol’s growth this month, as the protocol surpassed $14B in market size.
Pool Together released the first Aave-powered no-loss prize pool on Polygon. Curve Finance also launched a pool on Polygon, which is deposited into Aave. Users can swap between $DAI, $USDT, and $USDC and earn trading fees and $MATIC. Instadapp reeleased a tool to seamlessly migrate your Aave L1 positions over to Polygon with just 1 click. DeFi Saver launched a migration tool to move from Aave Protocol v1 to Aave Protocol v2. Finoa integrated AAVE custody support for institutions, and dydx introduced an AAVE perpetual market.
In April, the Aave Polygon market gained mass adoption with 11,000 users and 7,000 borrowers in just a month. In parallel, the market reached $2 billion of liquidity with $1 billion of outstanding loans; generating $13m for depositors and borrowers. This includes interests net of reserve factor, Flash Loan fees and $WMATIC distribution.
What is Aave?
Aave is an open source and non-custodial protocol for earning interest on deposits and borrowing assets.
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