Aave passes $1T in lending as it targets bank and fintech integration

Decentralized finance protocol Aave has surpassed $1 trillion in cumulative lending volume. This marks a historic first in the DeFi industry. A decade ago, DeFi and Aave did not exist. They were only ideas. Today, Aave acts as the backbone of onchain lending, powering a financial system that is open, global, and unstoppable. Stani Kulechov, CEO of Aave Labs, stated this in an X post on Wednesday. I believe this milestone is another step toward Aave’s goal. We want to become the largest and most efficient liquidity network in the world. The protocol currently secures $27.2 billion in user value. It generated $83.3 million in fees over the past 30 days, nearly four times its closest competitor. We intend to integrate with traditional finance banks and fintechs. However, internal governance disputes over funding allocation are ongoing. We need to resolve these disputes to maintain trust and momentum.