Odaily Planet Daily News Aave's dominance in the DeFi lending field seems to be facing fierce competition. According to data compiled by Token Terminal, Solana's on-chain DeFi project Kamino has seen a 1,368% increase in net deposits since January 2024, while Morpho's net deposits have increased by 214% during the same period. Meanwhile, Aave's net deposit growth rate is about 213%.
This week, Aave founder Stani Kulechov criticized Kamino on X and considered the project to be an "imitator" of Aave's "old technology" using a "half-baked" user interface. His post triggered a rebuttal from Solana community members, including Solana co-founder Anatoly Yakovenko, who believed that Kamino was better. Marc Zeller, another early member of the Aave development team, has also been criticizing the practices of other DeFi projects when they encounter problems.
Although Kulechov criticized Kamino, he admitted in a recent podcast: "In general, the more developers on the chain, the better, it doesn't matter where they start or end. I would be happier if Solana had more developers building resilient, safe, and secure DeFi." (Bloomberg)