The total value locked (TVL) in the decentralized finance (DeFi) credit market Aave is $1.45 billion, <a href="https://defipulse.com/" target="_blank" rel="noopener">reported</a> DeFi Pulse.  

Aave has now surpassed MakerDao to become the number one defi protocol with the highest value of the token locked, which earlier belonged to MakerDAO, in the TVL market.

DeFi Pulse in its report mentioned that MakerDAO has accumulated crypto assets worth $1.44 billion. 
<h2>Compound Beats MakerDAO</h2>
Before Aave, MakerDAO was defeated by Compound in the TVL market. As per the report on June 20, the TVL of MakerDAO was $486 million, which was overplayed by Compound, whose TVL recorded was around $500 million.

The report further has explained that in recent times, the craze of yield farming in the market is growing rapidly which has also influenced the TVL of every DeFi protocols, which presently is more than $6.9 billion. 

Recently, the CEO of Aave Stani Kulechov has said, 
<blockquote>“Reaching the highest TVL was possible due to the wide range of developers building on top of Aave who are expressing their innovation in DeFi.This innovation has sparked interest from institutions who are now dipping their toes into Aave.”</blockquote>
In February 2020, the value of the DeFi protocol market was $1 billion. But according to the report, the researchers should not look into the TVL to analyze the DeFi activity.
<h2>FCA Offers EMI License To Aave</h2>
A report states that on July 07, the U.K. Financial Conduct Authority (FCA) offered the Electronic Money Institution (EMI) license to Aave so that it could issue digital cash alternatives and start offering payment services to the customers. 

Notably, in a very less time period, Aave has managed to beat MakerDAO and grab the number one position.

Additionally, the report states that apart from Aave, Coinbase and Revolut have received the EMI certification in Europe.

After receiving the authorization Aave started its pilot project in the UK itself.
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Aave Beats MakerDAO In Total Value Locked (TVL)

The total value locked (TVL) by decentralized finance (DeFi) credit market Aave is $1.45 billion and beats MakerDAO, reports DeFi Pulse.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Aave Beats MakerDAO In Total Value Locked (TVL)

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