In an industry with plenty of fast ascents and precipitous falls, many wondered whether the platform had the staying power to remain a central institution in DeFi lending.
Nearly 2 years later, Aave is still going strong, especially in relation to its one-time close rival.
This article will take a closer look at the two platform’s strengths and weaknesses and explain why Aave was able to overtake Compound.
Aave and Compound TVL Compared
TVL (since January 2021) (Source: Footprint Analytics)
As of Oct. 20, the DeFi market has surpassed $200 billion in total locked-in value (TVL) at $241.575 billion, with Aave’s TVL gaining the largest share at $18.89 billion. This is followed by lending protocols Curve ($18.01 billion), MakerDAO ($16.4 billion) and Compound ($12 billion).
Latest changes to the ranking of the top 10 TVL platforms (Source: Footprint Analytics)
In the lending space, Aave’s TVL has been way ahead of Compound in the last six months. This can be attributed to
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