Solana Foundation lends USDT to Aave to ease liquidity crunch as protocol launches on Solana mainnet this weekend

Solana Foundation president Cali Lyliu announced the Foundation will lend USDT into Aave to support liquidity recovery, with Aave set to deploy on Solana this weekend. The move follows weeks of strain on Aave's USDC pool — utilization stuck near 99.87% after the $290M KelpDAO exploit on April 18 prompted Circle's Gordon Liao to call the lending market "broken." The pairing gives Aave its first non-EVM deployment while bringing one of DeFi's most established lending primitives to Solana.

TLDR by @Benthic

More coverage

• Solana Foundation Lends USDT to Aave in DeFi Recovery Push ... (binance.com)
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• Solana lends USDT to Aave and onboards AAVE after - HTX (htx.com)
• Solana Foundation Chair Lily Liu Says USDT Loan to Aave ... (x.com)
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• Solana
• Solana Foundation
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• Mainnet