Aave V2

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Aave V2's governance or utility token carries a market capitalisation of 1,8 Mrd. $ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (1,8 Mrd. $) above the protocol's on-chain TVL (144,3 Mio. $) — a mcap/TVL multiple of 12.49× implies investors are paying for expected future fee flows rather than current deposits alone. A further 358 Mio. $ sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Aave V2 is published as a versioned release inside the Aave protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Aave V2 ist eine versionierte Variante einer größeren Protokollfamilie. Öffne das übergeordnete Protokoll für den kombinierten TVL und alle Geschwister-Versionen.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Jun 10, 2022
   stETH depeg
2. May 7, 2022
   UST depeg
3. Oct 27, 2021
   Potential xSUSHI attack found
4. Oct 4, 2021
   Start AVAX V2 Rewards
5. Apr 26, 2021
   Start Ethereum V2 Rewards

Aave V2 is a Lending protocol that lets users supply assets as collateral, borrow against them, and earn interest from borrowers paying variable or stable rates. It is deployed across 3 chains, including Ethereum, Polygon, Avalanche. The codebase has been independently audited (1 report on file). DeFiLlama tracks 5 historical events for this protocol since 2021.

Aave V2 operates on 3 networks (Ethereum, Polygon, Avalanche), keeping its surface area narrower than chain-agnostic peers. Roughly 92% of its on-chain value sits on just three networks (Ethereum-staking, staking, Ethereum), so a fault on any one of them would affect a large slice of users. Price feeds come from a single oracle provider (Chainlink); an outage or manipulation of that feed would propagate into every market the protocol prices. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap (1,8 Mrd. $) currently exceeds total value locked (144,3 Mio. $) — a mcap/TVL ratio of 12.49 suggests the market is pricing in more growth than current deposits support.

Verified external resources for Aave V2 — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Aave V2 is one of 7 Lending protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Aave V3, Morpho V1, JustLend, and 3 more. These peer protocols collectively secure 43,4 Mrd. $ in deposits, giving you a frame of reference for whether Aave V2's own TVL is at the top, middle, or tail of the category.

Aave V3

TVL 26,2 Mrd. $ · 24h +0.16%

Morpho V1

TVL 7 Mrd. $ · 24h +0.57%

JustLend

TVL 3,4 Mrd. $ · 24h +1.86%

Maple

TVL 2,4 Mrd. $ · 24h -1.17%

SparkLend

TVL 2,2 Mrd. $ · 24h +3.62%

Kamino Lend

TVL 2,1 Mrd. $ · 24h -0.02%