Woofun AI reports that the Aave decentralized lending protocol’s new market on the Monad Network exceeded $100 million in total deposits just two days after its July 3rd launch. The V3 deployment introduced lending, borrowing, and the GHO stablecoin to the network, initially supporting 12 assets including USDT, USDC, GHO, WETH, and cbBTC. Deposits surpassed $75 million within the first 24 hours.

Governance proposals indicate the Monad Foundation has committed $15 million in incentives over 12 months and pledged to hold at least 10 million GHO tokens for six months, while the Aave DAO will contribute 500,000 GHO tokens.

Concurrently, Aave founder Stani Kulechov confirmed that total deposits on Aave V4 on the Ethereum mainnet reached $250 million on July 5th, marking a new all-time high for the version.