The decentralized finance (DeFi) lending protocol will use Pocket’s distributed network to increase access for decentralized app (dApp) developers across 50 blockchain networks.
See related article: DeFi lending platform Aave to ‘build Twitter on Ethereum’
Fast facts
- Pocket, which on Tuesday tweeted a Cointelegraph report on the partnership, offers Aave a distributed network of over 44,000 nodes to access on-chain data from various blockchains.
- Aave is the third-largest DeFi protocol with total value locked (TVL) at US$6.24 billion at noon time in Asia, according to data from DefiLlama.
- Aave was affected by the crisis at Celsius Network but the crypto lender paid back the US$235 million in loans owed last week.
- The price of Aave’s native token was trading at US$96.51 around noon Hong Kong time on Wednesday, down more than 85% from a high of US$661.69 on May 18, 2021, according to CoinGecko data.
See related article: Celsius pays off USDC loan on Aave, unlocks over US$41 7 mln in collateral