Decentralized lending and borrowing platform Aave (LEND) has nearly tripled the total value locked in the protocol since the start of August, according to DeFi data platform from DeFiPulse.

• Aave has overtaken Maker in terms of the total value locked, with $1.45 billion compared to Maker's $1.44 billion at the time of publishing
• Aave has added roughly $1 billion in August; At the start of the month, Aave recorded a TVL of roughly $491 million
• The LEND token is currently priced at $0.742, growing by nearly 2.5x from the August 1 price of $0.305
• Aave launched in November 2017, with the protocol going live on the mainnet in January 2020
• Aave has announced multiple new features since launch, including a tokenomics upgrade called Aavenomics and the Credit Delegation feature, which have contributed to price growth

Related Reading:

• Aave adds support for fiat on-ramps
• Aave carries out its first credit delegation transaction