Aave has expanded its reach by launching on X Layer, an Ethereum layer-2 blockchain developed by the crypto trading platform OKX. The move marks the 21st blockchain integration for Aave and represents a notable step for X Layer, which currently holds about $25 million in total value locked after launching in 2024.
X Layer Integration Enables Lending and Borrowing Without Bridging
The integration allows users of OKX Wallet and X Layer to lend, borrow and earn yield directly on the network without bridging assets to other blockchains. X Layer operates in a highly competitive Ethereum layer-2 environment and focuses on improving scalability. The network reports average transaction costs of about $0.0005 and block times of roughly one second.
Other decentralized finance platforms already operating on X Layer include Uniswap for token swaps, Chainlink for oracle services and Stargate for cross-chain transfers. The addition of Aave strengthens the broader decentralized finance ecosystem available on the network.
Aave Surpasses $1 Trillion Lending Milestone
The expansion follows Aave reaching more than $1 trillion in cumulative lending volume in late February, marking an industry milestone. The protocol currently holds about $23.5 billion in total value locked and more than $40.4 billion in net deposits, significantly exceeding Morpho, which manages around $10 billion. Aave has also generated over $6.2 million in revenue during the past 30 days, more than five times its closest competitor.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.