Aave and Curve Finance Join DeFi's Billion Dollar Club
DeFi adds two more unicorns, and there's no stopping it now.
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DeFi is growing exponentially, adding a billion dollars of collateral locked in a mere two days. Aave and Curve have been the most potent drivers, as each project smashed past a billion dollars in locked collateral.
DeFi’s Exponential Growth
The DeFi exuberance continues, but Aave and Curve are now leading the way.
Value locked in the protocol grew from $200 million to $1.1 billion in just five days. Similarily, Aave accelerated from $500 million to $1.12 billion in a short three days.
DeFi making up for lost time. Exponential is so much fun. See you tomorrow! 😂
$0 – $1 billion: 917 days
$2 billion: 146 days
$3 billion: 20 days
$4 billion: 4 days
$5 billion: 12 days
$𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧: 𝟐.𝟐 𝐝𝐚𝐲𝐬 https://t.co/ojHhRP1S07
— Taylor Monahan 🦊💙 (@tayvano_) August 16, 2020
While this need not affect the total value locked, it will be a grand impetus for Aave’s native token.
Synthetix is on the verge of joining the club, with over $850 million of collateral locked in the ecosystem. yEarn Finance is also closing in on ten figures, and Compound has boasted supplied funds of over $1 billion since June.