Aave v4, the latest version of the leading DeFi lending protocol, has surpassed $50 million in deposits on Ethereum, marking a 100% increase from $25 million just a month ago, according to DeFiLlama data. This growth follows the Aave DAO's approval of v4's activation on May 4, 2026, which adopted a conservative launch strategy in response to a $50 million slippage incident in March. The cautious approach, designed to mitigate liquidity risks, involves restricted credit lines and asset onboarding, with plans for a follow-up vote to expand these parameters. Despite these limitations, the rapid deposit growth highlights strong investor interest. The upcoming governance vote could further accelerate growth by broadening v4's capabilities, as Aave continues to face competition from emerging DeFi protocols.