Aave Expands to OKX's X Layer, Boosting DeFi Access for Users
Aave, the largest decentralised finance (DeFi) lending platform, has expanded to X Layer, OKX's Ethereum Layer 2 network. The move follows X Layer's launch in May 2024 and marks the 21st blockchain to integrate Aave's services. Users can now access lending, borrowing, and yield opportunities directly within the OKX Wallet—without needing to bridge to another network. Aave currently dominates the DeFi lending sector, holding over $23.5 billion in total value locked (TVL). This figure is more than three times that of its nearest competitor, Morpho, which sits at around $10 billion. In the last 30 days alone, Aave generated over $6.2 million in revenue—five times more than Morpho's earnings in the same period. The protocol also recently surpassed $1 trillion in cumulative lending volume.
X Layer, launched in May 2024, offers fast and low-cost transactions, with block times of one second and average fees of $0.0005. The network initially started with around $25 million in TVL and supports assets like USDT0, xBTC, xETH, and xSOL. It also allows loan-to-value ratios of up to 88% on liquid staking pairs. Other major DeFi protocols, including Uniswap, Chainlink, and Stargate, are already operational on the platform. By integrating Aave, OKX is embedding DeFi features directly into its wallet, following a trend set by competitors like Coinbase and Binance. This integration lets users lend, borrow, and earn yield seamlessly on X Layer, removing the need for cross-chain bridging.
Aave's expansion to X Layer adds another major blockchain to its network, which already includes Ethereum, Arbitrum, and Base. The move strengthens OKX's position in the DeFi space by offering faster, cheaper transactions alongside established protocols. Users now have direct access to Aave's lending services within the OKX Wallet.
