HTX Research argues in a new report that the tokenized real-world asset, or RWA, market has moved past basic proof of concept and is now being judged on whether on-chain assets can actually be used inside financial systems. The report says the non-stablecoin tokenized asset market grew from under $3 billion in mid-2024 to more than $30 billion in April 2026 before stabilizing around $34 billion in the second quarter of 2026. In its view, that rise shows that traditional assets can be issued, settled and managed on-chain, but it does not yet prove large-scale financialization. The report pairs that argument with a similar shift in decentralized finance. HTX Research says DeFi is moving away from valuation frameworks centered on TVL and headline scale, and toward models based on revenue quality, risk costs, treasury allocation and how value is transmitted to tokens. It uses Aave as a case study, describing the lending protocol as a key meeting point between stablecoins, tokenized collateral and on-chain credit markets. HTX Research also says stablecoins, RWA products and DeFi protocols are forming a three-layer structure for on-chain finance: stablecoins as the cash leg, tokenized assets as collateral and yield-bearing instruments, and DeFi protocols as the layer for trading, lending, leverage and risk transfer. The report closes by tying these themes to HTX’s own products, including Earn, Structured Products, On-chain Earn and margin-based coin exchange, which it says translate institutional narratives into products retail users can actually use.

Aave has deployed V3 on the Monad blockchain, supporting 12 initial assets including USDT0, USDC, GHO, and more. This marks the first time Aave activates Chainlink's Smart Value Recovery (SVR) at launch, redirecting part of MEV from liquidations back to the protocol. The Monad Foundation commits $15 million in incentives over 12 months and will purchase 10 million GHO tokens (locked for at least 6 months). Aave DAO adds 500,000 GHO as extra rewards. The deployment strengthens Monad's DeFi infrastructure and showcases Aave's multi-chain expansion strategy.

Aave has deployed its V3 lending protocol on the Monad blockchain, supporting an initial 12 assets including USDT, USDC, GHO, USDe, and multiple yield-bearing tokens. For the first time, Aave enables Chainlink's Smart Value Recapture (SVR) mechanism at launch, returning liquidation MEV to the protocol. The Monad Foundation commits $15 million in incentives over 12 months and agrees to purchase 10 million GHO tokens with a 6-month lock-up. Aave DAO also contributes 500,000 GHO to support dApps on Monad. This deployment marks Aave's expansion into Monad's high-performance ecosystem and introduces an innovative approach to MEV redistribution.

Aave V3 is now live on Monad mainnet, supporting 12 assets including USDT 0, USDC, and GHO. The deployment debuts Chainlink's Smart Value Recapture (SVR) mechanism to return liquidation MEV to the protocol. Monad Foundation commits $15 million in incentives over 12 months and will purchase 10 million GHO. Aave DAO adds 500,000 GHO incentives. This marks a strategic multi-chain expansion with innovative MEV recovery.

Aave has deployed its V3 lending protocol on the Monad network, launching with 12 assets including USDT, USDC, GHO, USDe, mUSD, AUSD, WETH, cbBTC, wstETH, weETH, syrupUSDC, and sUSDe. For the first time, Aave activated Chainlink's Smart Value Recapture (SVR) at launch, redirecting a portion of MEV from liquidations back to the protocol. Monad Foundation will inject $15 million in incentives over 12 months and commit to purchasing 10 million GHO with a six-month minimum holding period. Aave DAO also dedicates 500,000 GHO to support applications on Monad. This deployment marks Aave's continued multi-chain expansion with innovative MEV value capture.

Aave 在 Monad 主网部署 V3 借贷协议，初始支持 USDT、USDC、GHO 等 12 种资产，并首次在上线时即启用 Chainlink 智能价值回收机制（SVR），将部分 MEV 价值返还协议。Monad 基金会承诺前 12 个月投入 1500 万美元激励，且购入 1000 万枚 GHO 并至少持有六个月；Aave DAO 亦投入 50 万枚 GHO 激励。此举标志着 Aave 在新型高性能 EVM 链上的重要布局。

Aave已在Monad区块链上部署V3借贷协议，初始市场支持USDT、USDC、GHO等12种加密资产。此次部署首次在上线之初即启用Chainlink智能价值回收机制（SVR），将清算MEV价值返还给协议。Monad基金会承诺在前12个月投入1500万美元作为激励资金，并同意购入1000万枚GHO持有至少六个月；Aave DAO也投入50万枚GHO激励，以推动Monad链上生态发展。

Aave has deployed its V3 lending protocol on the Monad network, launching with 12 assets including USDT0, USDC, GHO, and major staked tokens. For the first time, the Chainlink Smart Value Recovery (SVR) mechanism is enabled from day one, redirecting a portion of liquidation MEV back to the protocol. The Monad Foundation commits $15 million in incentives over 12 months and a purchase of 10 million GHO with a six-month holding period. Aave DAO adds 500,000 GHO in additional incentives. This deployment marks a strategic expansion of Aave’s multi-chain footprint while pioneering a new MEV value-capture paradigm in lending markets.