Aave, a decentralized finance platform, is outperforming the returns offered by the European Central Bank, proving that the financial system is changing.
Users who are currently depositing EURC (Eurocoin) stablecoin on this platform can: The annual rate of return is 3.13%.as shown in the image.
This figure exceeds the 2% benchmark interest rate set by the European Central Bank for the euro area, putting Aave ahead of savings options offered by traditional banks.
Market trends reflect continued growth in the adoption of this type of digital asset tied to the euro. There are currently 56.75 million EURC deposited in this protocolwhich is equivalent to $66.22 million.
Of this total, loans worth €42.51 million have been requested. The capital flows show that stablecoins issued by Circle within the decentralized network create greater economic incentives than physical euros held by traditional banking institutions, allowing them to attract large-scale capital into the decentralized finance ecosystem.
Aave founder Stani Kulechov claims that “Euro deposits at Aave are increasing and that is not surprising.” According to the manager, DeFi “will win” competition from traditional banks due to its globality and transparency.
As reported by CriptoNoticias, Aave is a direct competitor to traditional banking. Until December last year, it controlled 59% of the DeFi lending market and 61% of active loans, making it comparable in size to the top 50 banks in the United States.
This system is available to anyone regardless of region, so you can quickly earn stable income. On top of that, The transparency of cryptocurrency networks allows you to check the status of your funds in real time. And aggressive lending that traditional private banks don’t have.
