Aave (AAVE)

Kraken Ink has been one of the most successful Aave deployments, structured as a white-label lending market with full ownership that provides onchain DeFi infrastructure for a centralized exchange. Eventually, all exchanges will transition their backends to onchain-first systems.

Ethena isn’t a basis-trade protocol anymore: only $21M (0.5%) of AUM is in basis trades. It’s now a stablecoin yield aggregator. An onchain money market fund. Yields come from DeFi lending, fully tied to crypto risk and rates. The risk also shifted from CEXs exposure to DeFi. And Defi isn’t having the best days when it comes to security.

What’s next for DeFi lending. Aave will win. https://t.co/kQJpdcrTWq

Best protocols by fees generated: (excluding Tether and Circle as they are always on top of the list). + @Pumpfun | $72.75m | a surprise that PumpFun can be at this high rank of fees generated; I guess that users are still fond of meme sniping + @aave | $72.75m | largest money market, maintaining their fees via Aave V4 + @CantonNetwork | $64.75m | Canton is expanding its AMB network; DefiLlama also notes: "Canton is currently distributing massive incentives, so its fees and revenue should be interpreted in that context." + @HyperliquidX | $56.84m | undoubtedly since HIP-4 was released + @LidoFinance | $47.3m | largest ETH staking platform, one of the best niches when users are looking for yields + @Uniswap | $40.12m | largest DEX, still in the top 10 even during a vague market + @Polymarket | $35.89m | not a surprise that the top prediction market is included in the top 10 + @SkyEcosystem | $32.79m | Sky generates over $1m in fees daily, coming from the fees charged on DAI/USDS loans - a real cash cow for Sky + @trondao | $30.99m | outstanding for their niche in stablecoin payments and transferring + Fragment | $30.37m | totally a surprise that Fragment defeats Ethereum for this spot, rising due to the hype of TON and Telegram payments. All these metrics are gathered on a 30-day basis; longer ranges reflect better insights. Some may ask why I'm not ranking protocols by revenue; my answer is simple: revenue is a financial metric that measures all incomes from any services. In this case, fees only refer to how much users have spent on the protocols, which tends to reflect how well the protocol operates better than revenue. When fees = revenue, it means that the protocol has only one source of income.

Only 14 lending protocols have generated more than $1M in revenue over the last 365 days @aave - $137.8M @sparkdotfi - $102.7M @maplefinance - $13.6M @0xfluid - $12.5M @VenusProtocol - $11.6M @eulerfinance - $9.2M Cash - $7.7M @Compound_xyz - $4.8M @SiloFinance - $2.8M @MoonwellDeFi - $2.3M @Dolomite_io - $2.0M @BendDAO - $1.1M @BenqiFinance - $1.0M @jup_lend - $1.0M

Whale Deploys $1M #USDT Into $AAVE, Supplies Tokens to Aave V3. On-chain data indicates that wallet 0x0bb8 allocated 1 million USDT to buy 11,206 AAVE tokens at an average entry cost of $89.24, approximately seven hours ago, and subsequently deposited the acquired assets into Aave V3. Meanwhile, the same wallet continues to hold 5,007 Ethereum (ETH), valued at approximately $10.56 million, with indications it may further expand its AAVE position.

What if you didn’t have to give up your capital to donate it? @aave governance has a temp-check live for a principal-preserving charitable giving layer. Deposit assets, earn yield, direct that yield to humanitarian causes… all while keeping full liquidity on the underlying capital. Three structural problems with traditional charity solved through protocol design rather than goodwill. Still temp-check only: formal governance vote required before anything moves. If it passes, it’s a replicable primitive any yield-bearing protocol could adopt. Does on-chain yield infrastructure finally give humanitarian organizations something banks never could?

Quite dope