Aave Launches on OKX’s X Layer (Ethereum L2)

Aave, the largest decentralized lending protocol with about $23.5 billion in total value locked (TVL), has launched on X Layer, OKX’s Ethereum layer-2 blockchain. The deployment makes X Layer the 21st network to host Aave and lets OKX Wallet and X Layer users lend, borrow and earn yield natively without bridging to another chain.

X Layer, which debuted in May 2024, currently holds roughly $25 million in TVL. The chain targets the competitive Ethereum L2 market by emphasizing scalability: average transaction costs around $0.0005 and one-second block times. OKX says adding Aave is a flexible expansion of X Layer’s decentralized finance (DeFi) offerings that should benefit a wide range of users.

X Layer already supports several notable DeFi building blocks, including Uniswap for swaps, Chainlink for oracle services and Stargate for cross-chain transfers, and Aave’s arrival strengthens its native lending and borrowing options.

The launch comes after a recent milestone for Aave: in late February the protocol surpassed $1 trillion in cumulative lending volume, becoming the first in the industry to do so. Aave now runs on more than 20 chains, including Ethereum, Arbitrum and Base, and reports about $40.4 billion in net deposits. Its TVL of $23.5 billion is more than three times that of nearest competitor Morpho, and Aave generated over $6.2 million in revenue in the past 30 days—more than five times Morpho’s recent revenue.

By integrating Aave, OKX’s X Layer aims to offer users a more complete on-chain finance experience without the friction of cross-chain bridges, reinforcing the chain’s push to be a scalable, low-cost hub for DeFi activity.