Isa Kivlighan from
Aave (AAVE), an open-source and non-custodial decentralized finance (DeFi) protocol for earning interest on digital asset deposits while also being able to borrow assets, states that 2020 was an “incredible year” for DeFi, as the sector grew dramatically from a little over $600 million in (total value locked) TVL in January 2020 to more than $14 billion today.
Kivlighan noted in a year in review blog post (published on January 1, 2020) that the Aave Protocol had been introduced on January 8, 2020 and it has experienced significant growth since its launch. Aave has managed to surpass $2 billion in market cap “with V1 & V2 combined.”