The total value locked (TVL) on the Aave platform increased by 13.7% and reached $27.4 billion in August. Active loans increased to $11.7 billion, and Aave's share of the lending market was 47.8%, confirming its market share growth for the second consecutive month. In August, the average TVL for Aave V4 was $442.3 million, which is 53.4% more than in July, and the number of active loans increased by 62.9%. The capitalization of the GHO stablecoin reached $661.6 million, which is also a record level and marks the 14th consecutive month of growth. However, the total number of active users on the platform decreased by 3.8% to 68,900 people, indicating a decline in user activity for the fourth consecutive month.
According to a report by Token Terminal, total fees in August amounted to $33.9 million, increasing by 15.2% compared to the previous month. Meanwhile, Aave DAO's revenue increased by 9.2%, reaching $4.9 million. Of the total fee volume of $33.3 million, 98.2% came from lending interest, indicating an overall increase in lending activity. The platform's debt load was mainly concentrated in WETH and stablecoins, with WETH accounting for $4.1 billion, which is 35.3% of the total debt. Stablecoins USDT and USDC accounted for $2.7 billion and $2.6 billion respectively, while other stablecoins also contributed their shares to the total debt.
The Aave V4 platform continues to develop amid overall growth in lending activity. Particularly significant was the introduction of new lending pathways, which led to an increase in deposits on a separate instance of Aave V4 on the Optimism platform. In August, this amount increased from $17.5 million to $237.1 million. Aave is actively working on expanding the capabilities of the upcoming integration of tokenized Coinbase shares and other investments. To enhance risk management efficiency, Aave is discussing the possibility of introducing delegated risk managers on Ethereum and Avalanche. The importance of these steps is emphasized against the backdrop of a general decline in the number of users, as Aave seeks ways to expand its client base and ensure sustainable growth.
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