Aave Reaches $300M in Flash Loans Issuance

Aave Reaches $300M in Flash Loans Issuance

By Abhimanyu Krishnan | News | 1 Sep 2020


Decentralized lending and borrowing platform Aave (LEND) has hit a new milestone, crossing $300 million in flash loans on August 30, according to Aave tracker Aavewatch.

  • A flash loan worth $14 million executed on August 29, with trend of an overall increase in flash loans values also apparent
  • Flash loans are used in arbitrage trades; Aave CEO Stani Kulechov has said arbitrage traders have been using flash loans to make operations more efficient
  • The biggest source of flash loan usage is DeFi Saver, a DeFi app for managing one’s portfolio
  • Aave recently surpassed Maker (MKR) in terms of total value locked in, with $1.61 billion as opposed to Maker's $1.55 billion
  • Contributing to Aave’s growth are several significant announcements in recent months, including the upcoming Aavenomics update and credit delegation
  • Aave has also received a license to operate from the UK’s Financial Conduct Authority

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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