Aave V4 deposits have surpassed $400 million, setting a new all-time high for this version of the lending protocol. Deposits grew from roughly $50 million in early May 2026 to $400 million by mid-August, an eightfold increase in just a few months. The protocol introduces a new architecture called Liquidity Hub and Borrow Spokes, enabling independent configuration of each borrowing market alongside centralized liquidity pool management. Aave V4 also includes native support for real-world assets, expanding its potential user base beyond on-chain native borrowers to institutional participants. Meanwhile, Aave V3 continues operating with approximately $19.4 billion in total value locked, giving the DAO significant flexibility in managing the V3-to-V4 transition timeline.
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