Aave (AAVE)

Wu reports that, according to data quoted by MSB Intel, Aave has generated about $43.3 million in earnings (protocol retained earnings) in the lending sector from the beginning of the year to date, accounting for about 80.7% of the entire lending sector; the protocols ranking second to fourth are Maple Finance with about $5 million, Fluid with about $3.8 million, and Venus with about $3 million. MSB Intel states that Aave accounts for roughly half of the lending sector's TVL but contributes about 80% of the earnings. This metric is typically used to measure on-chain retained earnings of a protocol after deducting related costs and token incentives, and is not equivalent to traditional net profit in financial statements.
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