OKX integrates Aave with the Ethereum L2 X layer
OKX's X Layer is the 21st blockchain to integrate Aave, which recently surpassed $1 trillion in aggregate loan volume.
Ave, the largest decentralized lending protocol with a total value of $23.5 billion locked in, is launched on X Layer, the Ethereum layer-2 blockchain launched by crypto trading platform XX.
In the year For X Layer, which is locked in a total value of $25 million starting in 2024, the integration will allow users of OKX Wallet and X Layer to lend, borrow and access products without having to connect to another chain.
An OKX spokesperson told Cointelegraph, “This is a very versatile expansion of our DeFi ecosystem and should benefit our entire customers on the X Layer.”
X Layer launched in May 2024 in the very crowded Ethereum Layer-2 market. Like many of its competitors, X Layer is focused on providing transactions at an average of $0.0005 per second.
Other popular DeFi platforms integrated with X Layer include Uniswap for decentralized swaps, Chainlink for word services and Stargate for cross-chain money transfers.
Ave recently passed a historic event
The launch comes after Ave surpassed $1 trillion in outstanding loan volume in late February, surpassing the industry's highest.
The protocol currently has a total value of about $23.5 billion locked up and runs on more than 20 chains, including Ethereum, Arbitrum, and Base. On rival platform Morpho, it also has more than $40.4 billion in net deposits.
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The $23.5 billion figure in the DeFi lending market is more than three times that of Eve's closest competitor, Morpho.
Ave has taken in over $6.2 million in revenue over the past 30 days, five times more than second-place Morpho.
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