Coinspeaker
5 hour ago
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Aave Releases iOS App Offering 6.5% DeFi Savings Yields

Aave Labs Releases iOS Savings App

  • Aave Labs has launched its iOS savings app as of November 17, offering a 6% base APY with an extra 0.5% for automatic monthly deposits.
  • The app is designed for retail users new to DeFi, featuring a user-friendly interface that compounds interest every second.
  • Supports stablecoin deposits such as USDC and USDT, without minimum deposit requirements.
  • Founder Stani Kulechov aims to broaden DeFi access to mainstream consumers.

DeFi Yield Landscape

  • The app's return rates (6-6.5%) are mid-range compared to other DeFi platforms like Morpho, which offers up to 30% using advanced strategies.
  • Traditional competitors offer lower rates; Coinbase USDC Rewards provides 4.1-4.5% APY.
  • Aave manages about $55-$56 billion in deposits, following the acquisition of Stable Finance in October 2025.

App Features and Limitations

  • Offers up to $1 million balance protection per account, though the insurance program details are pending.
  • No subscription fees, and waives deposit/withdrawal fees for bank or debit card transactions.
  • Currently available only on iOS, with Android and web versions forthcoming.
  • Aave authorized by the Central Bank of Ireland, with deposits reaching $73.2B and TVL at $41.85B despite a 4.5% drop in AAVE price.