The largest decentralized lending protocol, Aave, has successfully integrated with X Layer, the Ethereum layer-2 blockchain launched by crypto trading platform OKX. This deployment, Aave’s 21st chain expansion, enables lending, borrowing, and yield earning directly on X Layer. The integration is a notable development for X Layer, which launched in 2024 and holds approximately $25 million in total value locked. It follows Aave’s recent milestone of surpassing $1 trillion in cumulative lending volume.
Aave, the largest decentralized lending protocol, has launched on X Layer, an Ethereum layer-2 blockchain launched by crypto trading platform OKX. The protocol secures $23.5 billion in total value locked according to data from DefiLlama, enabling users to earn interest on deposits and borrow using crypto as collateral.
This marks a significant milestone for X Layer, a blockchain with just $25 million in total value locked. An OKX spokesperson stated, “This is a very versatile expansion of our DeFi ecosystem and as such should benefit the full range of customers we have on X Layer.”
X Layer launched in May 2024 and offers transactions costing $0.0005 on average at one-second block times. Other notable DeFi platforms integrated on X Layer include Uniswap for decentralized swaps and Chainlink for oracle services.
The integration comes as Aave surpassed the $1 trillion mark in cumulative lending volume in late February. Aave is integrated on more than 20 chains and has over $40.4 billion worth of net deposits on the platform mentioned by Token Terminal.
The $23.5 billion figure is more than three times Aave’s closest competitor, Morpho, in the DeFi lending market. Aave has also taken in over $6.2 million in revenue over the last 30 days, more than five times that of second-place Morpho.
