Isa Kivlighan from Aave (AAVE), an open-source and non-custodial decentralized finance (DeFi) protocol for earning interest on digital asset deposits while also being able to borrow assets, states that 2020 was an “incredible year” for DeFi, as the sector grew dramatically from a little over $600 million in (total value locked) TVL in January 2020 to more than $14 billion today.
Kivlighan noted in a year in review blog post (published on January 1, 2020) that the Aave Protocol had been introduced on January 8, 2020 and it has experienced significant growth since its launch. Aave has managed to surpass $2 billion in market cap “with V1 & V2 combined.”
Kivlighan confirmed that her team released the Aave Protocol on Ethereum mainnet in January of last year, bringing innovations such as Flash loans to the DeFi and broader crypto markets.
She pointed out that Flash loans “rocked the world, and many inspiring hacks and projects were built that utilized them in new and creative ways.” She also mentioned that the Aave Ecosystem grants program was kicked off in April 2020 to provide support to initiatives developing “anything that contributes to the Aave ecosystem.”
In May 2020, the Uniswap Market was launched as “the first alternative liquidity market on the Aave Protocol,” Kivlighan confirmed. She revealed that additional markets may be coming and that “the power is in your hands now.” Read from source….