# Aave Nears $1B Milestone for V4 Deposits

*Author: Bankless*
*Published: Sep 9, 2026*
*Source: https://www.bankless.com/read/news/aave-nears-1b-v4*

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Aave's next-gen DeFi lending architecture has [crossed $900 million in deposits](https://x.com/aave/status/2097687885579194757) and is closing in on the $1 billion mark, a milestone reached less than six months after V4's mainnet debut in March.

## **What's the Scoop?**
- **The number:** The $900M figure is Aave's own count of total assets supplied to V4. Independent trackers like DeFiLlama currently show a lower ~$399M for the instances they index, since their TVL methodology [doesn't count borrowed assets](https://docs.llama.fi/analysts/data-definitions) and doesn't yet cover every V4 deployment.
- **The architecture:** V4 swaps V3's siloed pools for a Hub-and-Spoke design. Central Hub vaults hold and account for a chain's liquidity, while user-facing Spokes (e.g. Core, Prime, Plus, and others) draw a governed credit line from that shared pool rather than bootstrapping their own. That lets specialized markets tap the same deep liquidity while staying walled off from each other's risk.
- **The growth curve:** V4 has seen roughly 131% growth over the past 30 days alone, with active loans recently topping $250M for the first time. New markets (a dedicated EtherFi Cash instance on Optimism, and an Ethena market that launched September 7th, etc.) have driven much of the recent surge.
- **Perspective:** Even near $1B, V4 remains a small fraction of Aave's roughly $30B supplied across V3 and +20 chains. This is early traction for new infra rather than a changing of the guard, at least for now.