Aave, the largest decentralized lending protocol with $23.5 billion in total value locked, has launched on X Layer, an Ethereum layer-2 network developed by crypto exchange OKX.
The move marks a major step for X Layer, which launched in 2024 and currently holds about $25 million in total value locked. With the integration, users of OKX Wallet and X Layer can lend, borrow, and earn yield directly on the network without needing to bridge assets to other chains.
An OKX spokesperson said the addition strengthens the platform’s DeFi ecosystem and broadens opportunities for its user base.
X Layer, introduced in May 2024, enters a crowded layer-2 landscape focused on scalability. It offers average transaction costs of around $0.0005 and one-second block times.
Other DeFi protocols already available on X Layer include Uniswap for decentralized trading, Chainlink for oracle services, and Stargate for cross-chain transfers.
The launch comes shortly after Aave surpassed $1 trillion in cumulative lending volume in late February — an industry first. The platform currently secures $23.5 billion in total value locked, allowing users to earn interest on deposits and borrow against crypto collateral.
Aave operates across more than 20 blockchains, including Ethereum, Arbitrum, and Base, and holds over $40.4 billion in net deposits — significantly ahead of competitor Morpho’s $10 billion. Its total value locked is more than three times that of Morpho, and it has generated over $6.2 million in revenue in the past 30 days, more than five times its nearest rival.
