$AMPL on Aave Fees & Revenue — The Story So Far

$AMPL has been live on Aave for about three months now, and the fee revenue it has generated for both lenders and the Aave protocol ($AAVE holders) is astronomical.

In fact, no other cryptocurrency comes even close to $AMPL in terms of the fees generated for the amount of liquidity provided.

In the past 90 days, $AMPL has raked in $1.3 million in fee revenue for lenders and the Aave protocol, making it the 4th largest cumulator of fees on Aave!

Cumulative Aave Fee Revenue (July 30 — Oct 27) Source: Token Terminal

This is an outstanding accomplishment for 3 reasons:

1. There are 31 assets listed on Aave and $AMPL is ranked #4 in terms of fee revenue.
2. $AMPL brought in this revenue with very little liquidity — $8M as of late, but <$4M for the first two months (the pool is growing quickly now).
3. The first two months were really just a trial period for $AMPL on Aave with a few hiccups. It was only recently that the rates were fixed and the Aave UI bug that was displaying the wrong rates was fixed.

Now, if we take points 2 and 3 into consideration and look at more recent data, we can get a more accurate look into how $AMPL on Aave is really performing (seeing as the pool has had time to mature and work out some of the kinks).

So, taking a look at more recent data from Oct 21 — Oct 27 (when the APY rates and Aave UI was fixed), we get a clear picture of how it's evolving:

Cumulative Aave Fee Revenue (Oct 21 — Oct 27) Source: Token Terminal

As seen in the chart above, $AMPL has cumulated $1.1 million in fee revenue for lenders and the Aave protocol in the past 7 days alone! That’s 10.19% of all the fees generated on Aave in the past 7 days:

Cumulative Aave Fee Revenue (Oct 21 — Oct 27) Source: Token Terminal

And get this — $AMPL brought in all of these fees with just $8 million in liquidity!

It’s truly outstanding when you think about it. I mean, just look at the size of the $USDC, $USDT, and $DAI markets; they’re in the $ Billions:

And yet $USDC only generated $5.5M; $USDT generated $1.9M; and $DAI generated $1.7M in fees…

These Billion $ pools aren’t generating much more than $AMPL’s measly $8 million pool.

In fact, AMPL is currently 0.04% of the TVL on Aave v2, yet it generates 10.19% of protocol revenue. Let that sink in.

Makes you think, doesn’t it?

Just imagine, what would the cumulative fee revenue for lenders and the Aave protocol be if the $AMPL pool was the size of $USDC, $USDT, or $DAI… it’s actually mind-boggling.

Follow me here on Medium and on Twitter for more updates like these. I’ll be tracking $AMPL fee revenue on Aave closely to see how it progresses ;)