| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107315.2200000000 |
| ETH | $2430.0080000000 |
| BNB | $645.6991200000 |
| XRP | $2.1999220000 |
| ADA | $0.5621713000 |
| SOL | $147.3224000000 |
| DOGE | $N/A |
| DOT | $3.3620100000 |
| LTC | $86.1851000000 |
| LINK | $13.2016000000 |
Category: CRYPTO NEWS
The post Aave Faces Growing Competition as Kamino Sees 1,368% Deposit Surge in DeFi Sector appeared on BitcoinEthereumNews.com. According to a recent Bloomberg report on February 12th, the DeFi lending sector is witnessing increased competition, posing a challenge to Aave‘s dominant role. Data from Token Terminal reveals remarkable growth for the Solana-based DeFi platform Kamino, which has experienced a staggering 1,368% increase in net deposits since January 2024. Similarly, Morpho has recorded a commendable growth rate of 214% during the same timeframe, while Aave’s net deposit growth stands at about 213%. This week, Aave’s founder, Stani Kulechov, expressed his concerns over Kamino, labeling it an “imitator” of Aave’s traditional technology with a “half-baked” user interface on Twitter. His remarks ignited a response from members of the Solana community, including co-founder Anatoly Yakovenko, who argue that Kamino offers superior functionality. Additionally, Marc Zeller, a prominent figure from Aave’s early development team, has voiced his critiques regarding the practices of other DeFi projects. Despite his criticism towards Kamino, Kulechov acknowledged in a recent podcast that greater participation among developers is beneficial for the industry as a whole. He stated, “The more developers on-chain, the better,” highlighting that the origins of these initiatives are less significant than the underlying goal of fostering a robust, secure, and collateralized DeFi ecosystem. Source: https://en.coinotag.com/breakingnews/aave-faces-growing-competition-as-kamino-sees-1368-deposit-surge-in-defi-sector/
2025-02-12T03:34:37+00:00