Decentralized lending protocol Aave has officially launched on Ethereum layer 2 X Layer.
Summary
- Aave has launched on X Layer, enabling OKX Wallet users to lend, borrow, and earn yield directly on the network without bridging assets.
- X Layer, developed by OKX, has seen limited growth so far, with about $25 million in total value locked.
According to the official announcement, the launch will allow OKX Wallet users and DeFi participants to directly supply assets, borrow against collateral, and earn yield on the network without having to use a separate wallet or bridge assets across chains.
X Layer was developed by OKX and launched in 2024, but network growth has been relatively slow so far, with the chain holding only about $25 million in total value locked as of press time.
Onboarding Aave could significantly strengthen liquidity and expand the network’s DeFi capabilities.
“With a multi-year track record across more than a dozen blockchain networks and a 60% market share of DeFi lending, Aave is the largest and most trusted onchain lending network, with over $46 billion in supply & borrow. Its arrival on X Layer brings that same battle-tested infrastructure to OKX’s L2 ecosystem, permissionless, non-custodial, and accessible directly from OKX Wallet,” OKX said.
As part of the expansion, users can supply assets including USDT0, USDG, GHO, xBTC, xETH, xSOL, xBETH, and xOKSOL to earn yield that compounds automatically while retaining custody of their tokens.
Further, users will be able to borrow assets such as USDT0, USDG, GHO, xBTC, xETH, and xSOL against their collateral without any credit check or intermediary.
To access the service, OKX Wallet users just need to open the wallet, navigate to Aave through the DApps section, and connect to the X Layer network.
The latest expansion follows the launch of Orbit, a social trading platform that the crypto exchange introduced earlier this month.
As previously covered, Orbit is designed to combine social media-style interaction with trading tools, allowing users to share strategies, discuss market developments, and follow experienced traders in real time.
Around the same time, OKX disclosed a strategic investment from Intercontinental Exchange, with the deal set to give ICE a seat on the company’s board.
