Read this article on bsc.news Deposits on Aave V4 (@aave) on Avalanche (@Avax) have exceeded $225 million, up 295% since late October, according to protocol data. Active outstanding borrowing
Deposits on Aave V4 (@aave) on Avalanche (@Avax) have exceeded $225 million, up 295% since late October, according to protocol data. Active outstanding borrowings from the deployment are also above $100 million.
The figures point to rapid growth for the lending protocol's newest version on a network where earlier Aave versions already have a long track record. Aave's native token is $AAVE, while Avalanche's is $AVAX.
Avalanche was the first deployment of Aave V4 outside Ethereum mainnet. Aave's changelog records the launch on July 15, 2026, describing it as the first multi-chain deployment of the version. The Avalanche market introduced a Core Hub with Main, Forex and AVAX Correlated Spokes.
V4 had gone live on Ethereum mainnet earlier, on March 30, 2026. Aave Labs announced the Ethereum launch on 30 March 2026, and The Block reported that V4 uses a hub-and-spoke architecture that concentrates liquidity to supply a wider range of markets and use cases.
At the Avalanche launch, Aave Labs founder Stani Kulechov said the network was a natural first expansion target. He cited its mature Aave lending market and a fast-growing ecosystem for tokenized assets.
Deposits had already been climbing in the weeks before the latest milestone. Aave said deposits on the Avalanche deployment had passed $125 million, after roughly $20 million to $30 million in September. That earlier figure was reported in early November.
Part of the growth has been linked to Ethena Pay's Earn+ feature. A separate analysis noted that those deposits go to an external vault run by Upshift and managed by Steakhouse, and that Aave says it does not operate, curate or manage the vault.
The historical context matters when reading the totals. Combined inflows across Aave's earlier Avalanche versions exceeded $15 billion, a cumulative figure that does not represent deposits currently held in V4.
Borrowing above $100 million suggests that a meaningful share of deposits is being put to use, rather than sitting idle. Deposit and borrowing figures on lending protocols can move quickly with market conditions and incentive programs, so readers should check live protocol dashboards for current numbers.
Aave protocol changelogTokenPost: Aave V4 Deposits on Avalanche Surpass the $125 Million MarkThe Block: Aave V4 launches on Ethereum mainnet
