Aave's total value locked (TVL) soared to a record $41.1 billion on August 24, positioning it as the 54th largest bank in the United States by size, according to DefiLlama data. This milestone surpasses Prosperity Bank's $38.4 billion in deposits and is just $300 million shy of Bank OZK. Including $28.9 billion in outstanding loans, Aave's total size reached $71.1 billion, ranking it among the top 37 US commercial banks. Founder Stani Kulechov emphasized that Aave is not a bank but an open network for financial institutions, offering revenue sources independent of the Federal Reserve. As of August 24, Aave controls about 50% of the DeFi lending market's TVL, dominating the sector with $81.5 billion, nearly six times more than its closest competitor, Morpho.