@AaveAave overtook the No.1 spot in value locked in DeFi and it's an amazing achievement by the team and impressive growth.

But important to mention that a huge part of their success actually comes from @CurveFinance and @iearnfinance.

$828m / 1.43B so 58%

@devops199fan

1/n

As some of you know the product that still has the highest total value locked from the @iearnfinance suite of products is yTokens. Interest rate switching tokens on top of stablecoins: yDai, yUSDC, yUSDT, YTUSD.

Where the idea is that a yToken will automatically search for the best available interest rate on various lending platforms and switch to the most favourable one.

And all you as a user have to do is hold that yToken and get the best possible interest rate on the market.

These yield switching tokens are also the foundation of the Y pool on @CurveFinance where users can trade from one stablecoin to another.

And since Curve started it's liquidity mining program that specific pool has exploded in size as people "farm" CRV.

It grew to $828mil.

So what does this have to do with growth of @AaveAave? Well those interest rate switching yTokens don't currently switch.

Instead all of the underline stablecoin liquidity from those yTokens is fully deposited to Aave. And it stays in Aave.

So when someone deposits a $1000 worth of tokens into the Y pool on @CurveFinance to "farm" CRV what actually happens is that 30 DAI, 290 USDC, 360 USDT and 320 TUSD gets deposited into @AaveAave.

Pretty great for Aave but also shows the power and reach of @iearnfinance