The total funds deposited on DeFi lending and borrowing protocol, Aave [AAVE], grew steadily since the start of 2023. As per Token Terminal, the monthly average total value locked (TVL) for March jumped 10%  from the previous month’s data, and as much as 18% from January.

Additionally, the governance token of the ecosystem, AAVE, exhibited a remarkable year-to-date (YTD) growth of 42% and a weekly expansion of over 1o%, per CoinMarketCap data.

The latest data from Token Terminal showed that BNB Chain was the second largest blockchain in terms of daily active users.

Apart from this, Aave was also looking to branch out to layer-2 blockchains. As per details from a temperature check that was released, the Aave team put forward a proposal to begin phase-2 deployment of V3 on the zero-knowledge rollup (Zk-rollup), Starknet. Phase-2 will mark the full deployment of V3 on Starknet after the successful completion of phase-1

Notably, the voting for the proposal has started and will go on till 10 April. The proposal received overwhelming support from the Aave community with a 99.99% vote going in its favor.

(By Suzuki Shillsalot)