🔥Aave explodes on Monad, attracting over $100M user deposit in just 48 hours

Aave V3 has just officially launched on Monad - a layer-1 EVM developed by former Jump Trading engineers, with a speed of about 10,000 TPS and a transaction finality time of about 800ms.
In just the first 24 hours, Aave surpassed $75M deposits. By 48 hours after launch, this figure exceeded $100M. For comparison, the total network TVL of Monad at the beginning of June was only about $359.5M - meaning Aave alone accounted for over 1/4 of the chain's TVL in just 2 days.
The main driver comes from incentives; the Monad Foundation has committed $15M in liquidity rewards in the first year, while also buying and holding at least 10 million GHO for at least 6 months. Aave DAO added an additional 500,000 GHO.
At the same time, Aave V4 on Ethereum also just hit the milestone of $250M deposits just a few months after its launch at the end of March - Aave's CEO has set the next target at $1B.
Monad has only been operating for about 7 months, it is still too new to assess long-term risks.
Especially when Monad's on-chain activity has dropped significantly compared to the mainnet phase - meaning that most of the current funds flowing into Aave come from short-term mining incentives rather than the natural borrowing/lending demand of the ecosystem.