Tether’s XAUT deposits shift across DeFi venues as AAVE V4 gains $8M

Tether Gold (XAUT) deposits across decentralized finance have undergone a quiet but significant reshuffling over the past 90 days. Aave V4, the lending protocol’s newest iteration, pulled in $8M worth of the tokenized gold token, while deposits on Uniswap V3, Aave V3, and Morpho Blue all declined during the same window. The bigger picture is even more striking. Total XAUT deposits on Aave climbed from roughly $40M in early June to $76.7M by mid-August, a gain of approximately 91.7%. That makes Aave the clear frontrunner for anyone looking to park their digital gold in a DeFi lending protocol. Where the gold is flowing Aave V4 launched on March 30 with a Hub-and-Spoke liquidity model designed to consolidate deposits and improve capital efficiency. The architecture lets liquidity flow more efficiently between different asset pools rather than sitting idle in isolated markets. XAUT deposits on Aave V4 sat at about $4.4M at the end of June, rose to $7M by the end of July, and continued climbing into August. That trajectory lines up with the broader $8M net gain over the 90-day period. Meanwhile, older venues lost ground. Uniswap V3, which still accounts for the bulk of on-chain DEX liq...