Aave's new Monad market has seen deposits exceed $100 million in just two days since launch, with V4 total deposits surpassing $250 million, setting a new record high.

BlockBeats news, July 5th, about two days after the decentralized lending protocol Aave launched its V3 market on the Monad network, the deposit scale has exceeded $100 million.

Aave deployed the V3 version on Monad on July 3rd, introducing lending functions and the GHO stablecoin to the network for the first time. It initially supports 12 assets including USDT0, USDC, GHO, WETH, and cbBTC. Within 24 hours of launch, the deposit scale exceeded $75 million.

According to the Aave governance proposal, the Monad Foundation has committed to providing $15 million in incentives over the next 12 months, and to purchase and hold at least 10 million GHO for at least 6 months; Aave DAO will also provide an additional 500k GHO to support the development of the stablecoin ecosystem.

In addition, Aave founder Stani Kulechov stated that the deposit scale of Aave V4 on the Ethereum mainnet also exceeded $250 million on July 5th, setting a new historical high for this version. He said he looks forward to the V4 deposit scale further growing to $1 billion in the future, and continuing to expand businesses such as crypto asset collateralized loans and securities-backed lending.