$250M of $USDC are now deposited on Aave Base! In just 9 days since our last update, USDC deposits grew 25%. The trend has been clear since the launch of the Base Incentive Campaign, with USDC deposits growing over 10% per week. And it’s all funded by protocol revenue, without any under-the-table deal.

Time to check in on Aavenomics. → Buybacks are still rolling, with nearly 0.5% of the total supply already repurchased from protocol revenue. → $AAVE emissions keep falling, now at 390 $AAVE per day across stkAAVE, stkABPT, and stkGHO (currently 0 for stkGHO). At the current price of $325, buybacks cover ~119% of annual emissions. → Since buybacks have exceeded emissions, the $AAVE circulating supply is now deflationary, with about a 0.18% yearly reduction in total supply. And it should only improve, with further cuts planned until emissions hit 0. After that, we’ll see about redistributions 👀

7 days. That’s how long it took for Aave’s net deposits to jump from $60B to $70B. At this speed, hitting $100B is just a few weeks away.

Deep Dive into the Next Generation of DeFi || @Aave V4 Aave V4 will introduce a new architecture and innovative concepts that will fundamentally change DeFi lending. In this thread, we’ll explore in detail how it works, what it changes, and the benefits it brings ↓

. @protocol_fx just added more $wstETH to the Aave Prime Instance, pushing their deposits to a new ATH of 19,927 $wstETH! At a 3.08% Total APY, that’s roughly $2.4M/year in yield — about $6,575 worth of $wstETH per day. Over the past month, the average $wstETH supply yield was 0.39%, showing that returns remain stable and are not getting diluted. That's DeFi at scale. Predictable yield powering other protocols. Only on @aave.

Hold @GHO directly on @bitgetglobal to earn more $GHO! A total of 300,000 GHO is available in the incentive pool, distributed proportionally among eligible participants. To participate, simply hold $GHO in your spot account (max 1M) and enjoy daily rewards based on your trading activity. Target APRs: ✦ ≥ 500 USDT in daily trading volume → 15% APR ✦ < 500 USDT in daily trading volume → 10% APR The promotion starts on August 8, 2025, with rewards distributed daily after 10:00 AM (UTC+8), based on hourly snapshots of your balance. Full details & rules 👇

Now that the Incentive Campaign has been live since July 23, let’s take a closer look at how $USDC borrowing costs changed. Quick reminder: → Native Borrow Rate = Borrow APY → Net Borrow Rate = Borrow APY - Incentives APR As shown on the chart, both rates moved closely together before the campaign launched. After July 23, the native borrow rate started rising, while the net borrow rate dropped below pre-campaign levels. ► The result? Despite higher native rates, users are now paying less to borrow $USDC thanks to the Base Incentive Campaign.

Aave just reached $60B in net deposits. The work of all @aave DAO delegates keeps paying off. We’re getting closer and closer to $100B. Huge shout out to @aavechan on the 60B figure, it has been a big lift by the ACI team.

Something big is coming for @gho soon. We can’t say too much just yet, but it’s the kind of integration we love. Oh, and if you just can’t wait… the intern says there’s a clue well hidden in the image 👀 If you know, you know.

$200M of $USDC now deposited on Aave Base! The Base Incentive Campaign was launched on July 23, and since then, USDC deposits on @base have grown by 22.7%. This campaign was led by TokenLogic and @aavechan, with a clear objective: grow the Aave Base Market. It seems the collaboration is working — the recent growth speaks for itself.