One of the largest lending protocols in the Open Finance ecosystem, Aave started to offer support for Tether’s stablecoin USDT.
The company announced a collaboration with the DeFi lending protocol Aave, which allows Aave users to borrow and loan USDT on March 10th. According to the data provided on Aave’s website, USD $ 3.67 million was given on the first day, making the USDT the most-borrowed cryptocurrency in the platform.
Tether CTO, Paolo Ardoino, said they aim to make Tether (USDT) the most widely used stablecoin among major DeFi projects.
Currently, Aave is ranked sixth in DeFi Pulse with a total of $ 25.2 million of locked assets, while DeFi is ranked fourth among its lenders in terms of its locked presence.
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