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Arbitrum One leads layer 2 networks for Aave v3 lending with $728M TVL

The network holds the top spot among layer 2s for borrowing and lending activity on Aave v3, underscoring its scale in decentralized finance.

ARB
AAVE

Summary

Arbitrum One is leading layer 2 networks in borrowing and lending activity on Aave v3 with $728 million in TVL (total value locked, or deposited crypto). The ranking points to Arbitrum One’s current dominance among layer 2s for one of DeFi’s largest lending protocols, where users supply assets to earn yield or borrow against collateral.

Terms & Concepts
  • TVL: Total value locked, or crypto deposited in a protocol.
  • layer 2: A network built on top of another blockchain to improve speed or lower costs.
  • Aave v3: The third version of Aave’s crypto lending and borrowing protocol.