Aave V3 on Monad Tops $100M in Deposits in Under 48 Hours
AI Market Summary
Aave V3's rapid adoption on Monad, surpassing $100M deposits in ~48 hours, signals strong demand for lending liquidity on the new network and expands GHO's distribution. The Monad Foundation's $15M incentive commitment plus a 10M GHO buy-and-hold pledge improves near-term liquidity and stablecoin traction. Concurrent Ethereum mainnet V3 deposit ATH reinforces protocol momentum across chains.
Impact level
● Medium
Affected assets
AAVE/USDT-1.44%
AI Insight · AAVE/USDTAI Insight
▲ Bullish
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ChainCatcher reported that Aave’s V3 market on the Monad network crossed $100 million in total deposits roughly two days after launch.
Aave deployed V3 on Monad on July 3, bringing lending services and the GHO stablecoin to the network for the first time. The rollout began with support for 12 assets, including USDT, USDC, GHO, WETH and cbBTC. Deposits passed $75 million within the first 24 hours.
Per an Aave governance proposal, the Monad Foundation will provide $15 million in incentives over the next 12 months and will purchase and hold at least 10 million GHO tokens for a minimum of six months. The Aave DAO will also add 500,000 GHO to help strengthen the stablecoin ecosystem.
Aave founder Stani Kulechov said deposits in Aave V3 on Ethereum mainnet have exceeded $250 million, marking a new all-time high for this version. He said he expects V3 deposits to keep climbing toward $1 billion and for Aave to broaden into crypto asset-backed and securities-backed lending.
