Cryptographic loans ripen, with stablecoin borrowing rates stabilizing around 6 to 8%. Aave became the clear leader after overcoming the 2022 chaos.
The Aave Dao is held on a comfortable field, and Aave Protocol is a leader of Defi Lending, announced Marc Zeller, founder of the Aave Chain Initiative. The organization, which represents the interest of the Aave community, was launched in 2023, in mathematics after the terra (Luna) and the FTX crash.
Since then, Aave has evolved and rebuilt its positions. Zeller recalled that at one point, the community was convinced that Aave ends because Defi died. However, over time, the project has improved its code base and has become the key to the loan activity during the 2025 Haussier market.
Aave’s domination is no longer threatened
According to Zeller, Aave is now well established, based on locked value, income, market share and loan volume. The DAO played a role in determining the loan conditions and available chests, which led to success during the last Taurus de l’Eth market.
Aave obtains a record of $ 41.55 billion locked while generating $ 161 million in annualized income, of which more than $ 47 million go to the incentives of the holders. As a result, Aave holds around $ 299.48, near its higher range. For the moment, Aave has not yet revised its records higher than $ 698, but the token was held stable and expanded during the Haussier market 2024-2025.
Aave now dominates all the vertical lists, including leverage, borrowing of the stalls against the BTC and the ETH, and the collateral transport trades generating yields. Zeller is aware that Ave has taken over where other projects have failed and tried to secure the platform against liquidations and panic.
The native token, the GHO, has increased to 352 m, based on positive market performance. The GHO is dynamically struck and destroyed according to Aave’s ability to support the chuck.
Unlike other DEFI projects, Aave limits the number of assets held as guaranteed. The project is also cautious with costs and incentives, expanding its ability to generate predictable profits and avoid liquidity threats.
Overall, Defi has learned his harsh lessons from previous liquidation cascades and settled in a more mature state. Zeller noted that AAVE loans had settled at around 6 to 8% after increased rate increases at more than 16%. In September, Aave obtained a yield of 8.13%.
Aave develops at the selected L2 channels
One of the main effects of the Aave has been to stimulate the savings of L2 channels. Zeller recalled that the 2023-2024 bear market led to L2 fatigue, where too many channels have been created. Aave launched more than 26 channels and quickly became the main DEFI protocol.
However, Zeller considered that all L2 versions were not viable. Currently, approximately 86.6% of AAVE revenues are made from the Mainnet Ethereum activity, without having to fill or take additional transactions. Aave estimated that around half of the deployments to L2 channels were not viable and decided to limit its exposure to only key strategic networks.
The last deployment was on Linea, after the distribution of tokens in the chain. Aave managed to attract depots of $ 2 billion in its Linea version, given the more reliable channel. Recently, Linea also managed to secure the locked recording value, as cryptopolitis reported.
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