The top lending platform in decentralized finance (DeFi) is now on the BNB Chain.
In a thread on social media platform X, BNB Chain says money market protocol Aave (AAVE) is now integrated into its network.
“We’re thrilled to announce that Aave, the largest DeFi money market protocol, has officially joined the BNB Chain ecosystem.
Aave’s integration is powered by strong governance support from the community. This aligns with BNB Chain’s commitment to decentralized decision-making, putting the power in the hands of the users.”
Aave is currently the largest DeFi lending protocol with $8.598 billion in total value locked (TVL), according to DeFi data aggregator DeFi Llama.
With its launch on the BNB Chain, Aave joins the roster of DeFi platforms in the blockchain’s ecosystem, which include Uniswap (UNI), Ambit Finance (AMBT), PancakeSwap (CAKE) and Lista DAO.
BNB Chain says the development will benefit the users of both Aave and its network.
“With Aave on board, BNB Chain users gain access to a leading lending platform and enhanced liquidity. FDUSD ensures robust liquidity from day one, enabling users to dive into a world of DeFi possibilities.
Aave users now enjoy BNB Chain’s competitive fees and seamless integration with one of the largest DeFi ecosystems; creating new opportunities and synergies between the two communities.”
AAVE and BNB see modest price jumps following the announcement. BNB is currently worth $382.15, up by 1.01% over the past 24 hours, while AAVE is changing hands for $92.45, up by 0.50%.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Decentralized Finance Money Market Protocol Aave Launches on BNB Chain appeared first on The Daily Hodl.
