Aave forges ahead with Lemon App Partnership, V3 Launch to Revive Protocol

• Aave’s partnership with Lemon App could increase the number of unique users on the protocol.
• Aave’s launch of V3 on the Ethereum mainnet has generated interest from whales.
• The TVL of Aave also decreased over the last month.

Aave, a decentralized protocol for lending and borrowing, has announced a partnership with Lemon App, an Argentinian and Brazilian fintech platform. This could help expand the user base and get more people to supply liquidity to the platform. The launch of V3 on the Ethereum mainnet has also generated a lot of interest in the token.

The V3 launch drew attention to Aave and its token, but the token’s velocity and network growth has steadily declined over the past few months. The number of unique users on the Aave protocol decreased by 25.16% over the last month. With the new partnership, over 1.7 million users from Argentina and Brazil could get access to Aave [AAVE]. This could help increase the declining number of unique users on the platform and revive both the protocol and its token.

Aave’s Total Value Locked (TVL) has also decreased over the past month, with the figure going from $5.4 billion to $3.7 billion. While this decline is concerning, the launch of V3 on the Ethereum mainnet could help improve the protocol’s TVL in the coming future.

The launch of V3 has also attracted the interest of whales, which could help increase the price of the token in the future. According to Santiment, the percentage of large addresses holding the token has increased from 2.46% on January 1st to 5.46% on January 23rd. This could be a sign that whales are investing in the token and could help increase its price.

Overall, Aave’s partnership with Lemon App and the launch of V3 could help the protocol grow and increase its user base. The launch of V3 has already generated interest from whales and could help improve the protocol’s TVL. However, it remains to be seen if this new partnership alone can revive both the protocol and its token.