Aave has become a leading force in decentralized finance by allowing users to borrow and deposit cryptocurrency without involving traditional banks. The protocol has surpassed $1 trillion in total cumulative lending volume, making it the largest lending platform in the DeFi industry.
This milestone was achieved through Aave's peer-to-peer lending model on the Ethereum blockchain. The platform allows users to lend and borrow cryptocurrencies, with over $27 billion in total user funds currently secured on the platform.
Aave's founder, Stani Kulechov, has ambitious plans for the protocol. He aims to make Aave the largest and most efficient liquidity network on the planet, connecting banks, builders, and financial technology companies by default.