Aave, the largest lending provider in DeFi, has just launched on Aptos, marking the first time this protocol has appeared on a blockchain outside of EVM and expanding its multi-chain strategy.

At launch, Aave supports USDC, USDT, APT, and sUSDe on Aptos, with a rewards program and liquidity incentives from the Aptos Foundation. Chainlink has also integrated price feeds to secure the market.

Aave currently has over $50 billion in net deposits and nearly $37 billion in TVL, making it the second-largest DeFi platform globally. On Aptos, the development team has redeployed Aave V3 using the Move language, built an SDK, conducted security audits, and launched a bug bounty program worth $500,000 in GHO.

The deployment targets the stablecoin market valued at about $1.3 billion on Aptos, particularly the growth opportunities from the liquid staking tokens (LSTs) segment.

This is seen as a significant step in Aave's global strategy, enhancing liquidity for Aptos while paving the way for future expansions beyond EVM under the governance of Aave DAO.