BlockBeats News, July 5th, just two days after the Aave decentralized lending protocol launched on the Monad Network, the total deposited amount has exceeded $100 million.

Aave deployed the V3 version on Monad on July 3rd, introducing lending and borrowing functions as well as the GHO stablecoin to the network for the first time. Initially, it supports 12 assets including USDT0, USDC, GHO, WETH, and cbBTC. Within 24 hours of launch, the deposited amount surpassed $75 million.

According to an Aave governance proposal, the Monad Foundation has pledged to provide $15 million in incentives over the next 12 months, and to purchase and hold at least 10 million GHO tokens for a minimum of 6 months; Aave DAO will also provide an additional 500,000 GHO tokens to support the stablecoin ecosystem development.

Additionally, Aave founder Stani Kulechov announced that the total deposited amount on Aave V4 on the Ethereum mainnet also surpassed $250 million on July 5th, setting a new high for this version. He expressed expectations that the V4 deposited amount will further increase to $1 billion in the future, continuing to expand services such as crypto asset collateralized loans and securities-backed lending.