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