Aave Integrates with OKX's X Layer Blockchain

Aave, the leading decentralized lending protocol in the cryptocurrency space, has integrated with X Layer, the Ethereum Layer 2 blockchain developed by the OKX trading platform. The deployment, announced recently, enables users to lend, borrow and earn yields directly on the network without the need to transfer assets across chains, marking the 21st blockchain for Aave's operations.

This integration brings Aave's robust lending infrastructure to X Layer's ecosystem, allowing OKX Wallet holders to access these services seamlessly within their existing interface. Users can deposit cryptocurrencies as collateral to borrow instantly or earn interest on holdings, all while benefiting from X Layer's low transaction costs, averaging 0.0005 per transaction, and one-second block times. Prior to this, such activities often required bridging assets from Ethereum or other networks, incurring additional fees and delays.

Aave, which surpassed 1 trillion dollars in cumulative lending volume in late February, currently secures 23.5 billion dollars in total value locked, more than three times that of its closest competitor, Morpho. The protocol has generated 6.2 million dollars in revenue over...