The decentralized finance lending platform Aave adds Tether (USDT) stablecoin to spur growth. Users can now undertake lending or borrowing activities using USDT. Aave has reported that USDT lending activity has already touched $3.67 million in no time.
Aave, the decentralized finance protocol, is ranked sixth amongst the DeFi lenders with a total locked value of approximately $25.5 million. As Aave adds Tether support, the announcement will surely spur the lending and borrowing activity.
Aave adds Tether to increase its crypto lending market share
Joe Morgan of Tether says that USDT lending solutions are already available on other prominent DeFi platforms. However, Aave brings on-chain borrowing and lending for the first time ever to the general populace. This will expand the role of Tether in widening the service net of DeFi ecosystem and offering more service to the Aave users. Read More...