Aave and Lido Exceed $70 Billion in Total Net Deposits

Overview of DeFi's Rising Stars: Aave and Lido

In a remarkable achievement, data from Odaily highlights that the decentralized finance (DeFi) protocols Aave and Lido have surpassed a staggering $70 billion in net deposits for the first time in December. As of the latest reports, these two platforms hold a collective total of $67.42 billion, dominating the DeFi landscape.

Aave's Performance

Aave stands out as the leader among these protocols, currently boasting net deposits of $34.3 billion. This figure places Aave slightly ahead of its closest competitor, Lido, by approximately $1.1 billion.

Lido's Growth

On the other hand, Lido has been pushing its limits, with net deposits reaching $33.1 billion. The competition between these two protocols highlights the dynamic nature of the DeFi sector as they collectively account for about 45.5% of the total deposits among the top 20 DeFi applications, which sum up to $148 billion.

Total Value Locked (TVL) Comparison

When considering Total Value Locked (TVL), Lido once again takes the lead with $33.8 billion. In comparison, Aave follows behind with a solid $20.6 billion TVL. It is important to differentiate between net deposits and TVL: net deposits reflect the total amount put into DeFi protocols, excluding any fees and synthetic tokens, while TVL includes the complete value tied to all assets within these platforms.

Conclusion

The impressive figures of Aave and Lido demonstrate the growing adoption and evolving technology of decentralized finance. As they continue to innovate and expand their user bases, these protocols are essential players in shaping the future of finance.

Additional Insights

• Stay updated with real-time data on DeFi platforms.
• Explore more about the implications of high TVL and net deposits.
• Understand the trends that are driving DeFi adoption.

For further reading, check out our article on DeFi Trends of 2023.