Hassan Maishera
On Monday, Aave Labs announced via X that Aave now powers Kraken’s DeFi Earn program. Users can now deposit cash and stablecoins into dedicated vaults on Kraken to earn yield from Aave’s lending network.
DeFi Earn is available across Kraken's Consumer, Pro, mobile interfaces, and Krak wallet. Users deposit cash or stablecoins. Funds are converted to USDC if needed and deposited into a vault on the Ink network. By integrating Aave, Kraken gives its users a way to earn DeFi yields without leaving the exchange.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $154.52 per token, up 2.6% in the last 24 hours.
