Aave v4 Deposits on Avalanche Top $125M as Japan Tax Refunds Take Shape
Aave v4 deposits on Avalanche reached an all-time high above $125 million, with Ethena Pay's Earn+ vault cited as a driver. Separately, Japan Tax Free, JPYC and UPBOND are building a system to send tourist tax refunds to wallets on the C-Chain.
Key Highlights
Aave v4 deposits on Avalanche reached an all-time high above $125M, with Ethena Pay's Earn+ vault cited as a driver.
Japan Tax Free, JPYC and UPBOND are building a system to send tourist tax refunds to wallets on Avalanche's C-Chain.
Aave V3 remains the chain's largest lending venue at $281.87M on Avalanche; chain TVL stood at $580.6M.
gunz ran a Halloween outfit prompt in Playoff the Grid, drawing 41 likes.
team1-india and team1 highlighted Team1 Thailand's regional presence and IBW2026 spaces in Mumbai.
Full Analysis
Bitcoin extended a fifth consecutive weekly loss and pressed $77.7K support as midterm-election uncertainty and the $6.3B Binance hack kept markets risk-off; the FBI attributed the hack to North Korea's TraderTraitor. Avalanche's own numbers reflected the mood — chain TVL stood at $580.6M with $69.4M in 24-hour DEX volume — but the weekend's concrete news came from product and payments, not price.
Aave v4 Hits a Record on Avalanche
Aave v4 deposits on Avalanche climbed to an all-time high above $125 million, with Ethena Pay's newly launched Earn+ vault cited as a driver of the growth. Earn+ pays 12% rewards on dollar balances through an Upshift- and Steakhouse-managed vault running an Aave v4 strategy, and launched on Avalanche in the days before this record. Aave V3 remains the chain's largest lending venue at $281.87M on Avalanche, so v4's $125M sits alongside an established base rather than replacing it.
Japan Tax Refunds Head Onchain
Japan Tax Free, JPYC and UPBOND are building a system for international visitors to receive eligible tax refunds directly to their wallets on Avalanche's C-Chain. The arrangement pairs a refund operator with a yen stablecoin issuer and a wallet provider, routing a process normally handled in cash at departure counters through onchain settlement. It follows Progmat's move of $2.7 billion in Japanese tokenized securities onto Avalanche, reported in late October.
Community Pulses: Thailand, LatAm and Halloween
Team1 Thailand (team1) posted on Oct. 31 highlighting its local presence, founder support and community growth in the region. Team1 India (team1-india) amplified IBW2026 community spaces at the Fairmont Mumbai, Team1 Thailand's local presence, and interview plans involving charity games and swag. Team1 LatAm (team1-latam) boosted community posts on Nov. 1 covering a team day off and onchain yield opportunities, from Japanese tax refunds to institutional finance adoption.
Playoff the Grid Marks Halloween
GUNZ (gunz) asked followers to share their scariest Halloween outfit in Playoff the Grid, greeting the Zeroes community with a post that drew 41 likes. The prompt followed a Serial Club Pioneer Tac Vest #49 sale for 35,555 GUN on OpenSea, reported in late October. gunz-related NFT trading has supplied most of the chain's collectible activity in recent weeks.
Market Board
Gainers were thin: $QI rose 2.3%, $PNG 0.2% and $sAVAX 0.2%. Losers included $XAVA at -3.8%, $JOE at -1.3% and $BTC.b at -0.9%, tracking bitcoin's slide. Uniswap V3 held $4.95M on Avalanche. Morpho Blue and Spark Liquidity Layer each showed no TVL on the chain in the latest reading.
What to watch: whether Aave v4 deposits on Avalanche hold above the $125M mark through the week, and whether the Japan Tax Free, JPYC and UPBOND refund system publishes a launch date for the C-Chain.