Aave's Monad Market Passes $100 Million in Deposits After Two Days

Aave's Monad market passed $100 million in two days

Aave's lending market on the Monad blockchain crossed $100 million in total deposits on 4 July 2026. The deployment went live two days earlier, on 2 July. It brought Aave's supply and borrowing markets, along with its native GHO stablecoin, to Monad for the first time. The market launched with support for 12 assets, including USDT0, USDC, GHO, WETH, and cbBTC. Users can supply assets to earn yield or borrow against collateral from the first day.

The market drew $75 million on its first day

Deposits reached $75 million within the first 24 hours. The Monad deployment runs Aave v3.7, an established version of the protocol. Aave describes itself as the largest decentralised lending protocol, with more than $1 trillion in all-time volume. In a separate milestone the same weekend, Aave V4 crossed $250 million in deposits. That figure marked an all-time high for the newer version of the protocol.

Monad Foundation pledged $15 million to seed liquidity

The launch was backed by incentives rather than a cold start. The Monad Foundation committed $15 million in first-year rewards. It also agreed to acquire and hold 10 million GHO to help seed the new market. The deposit surge is partly incentive-driven, a common pattern for new decentralised finance (DeFi) markets. GHO had previously launched on the Base and Arbitrum networks before reaching Monad.

Aave cleared Monad governance before the July launch

Aave's move onto Monad followed a formal governance process. The community began with a Temp Check proposal in February 2026 and gave final approval in late June. Monad is an EVM-compatible Layer 1 blockchain that launched its mainnet in November 2025. The network targets high throughput with sub-second transaction finality. Aave plans to add further assets, including Pendle PT tokens, in a later phase.

"The next generation of blockchain applications depends on fast execution and deep, reliable liquidity. Deploying on Monad extends Aave's lending markets and GHO to a new high-performance ecosystem advancing the EVM, giving more users access to decentralized finance.", 2 July 2026. — Stani Kulechov, Founder, Aave Labs

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