@AaveAave overtook the No.1 spot in value locked in DeFi and it& #39;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& #39;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& #39;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
You can follow @damirbandalo.
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