Aave Hits $100M in Monad Deposits Within Two Days

Aave's lending market on Monad has achieved $100 million in total deposits within two days of its launch, marking a significant milestone for the DeFi protocol.

The top DeFi lending protocol went live on Monad with its V3 deployment on July 2, supporting 12 assets including USDT0, USDC, GHO, WETH, and cbBTC from Coinbase. This marks Aave's first official launch on the chain.

Aave's broadening of GHO stablecoin distribution is a key strategic change with Monad integration being the first to go beyond Ethereum Layer 2 networks. The rapid growth follows an equally strong start, attracting more than $75 million in deposits within its first 24 hours.

Monad Foundation promised $15 million in first-year incentives and agreed to hold 10 million GHO for over six months. Aave DAO is allocating 500,000 GHO to bootstrap stablecoin adoption on the chain.