Ripple USD (RLUSD) has experienced impressive growth on Aave, the leading liquidity protocol.

Users have deposited a total of $76 million worth of RLUSD within just four days.

The cryptocurrency liquidity protocol Aave has seen impressive deposits of Ripple USD (RLUSD) within just four days.

According to the latest data from Aave, users have deposited a total of $76 million worth of RLUSD on the protocol since April 21.

This essentially means that users can earn interest by supplying the stablecoin and borrowing the token. It is worth noting that Aave does not allow using the stablecoin as collateral.

According to the data provided by Aave, the borrow cap for the popular stablecoin is currently capped at $10 million. This is meant to prevent risk with a new asset. The borrow cap likely explains why the utilization rate for the stablecoin is relatively low (it currently stands at 14.86%).

Meanwhile, RLUSD's total market capitalization is now approaching the $300 million mark, according to CoinGecko.

The company expects that RLUSD, which was launched in December, could end up among the biggest tokens by the end of 2025.

On Thursday, Ripple burned and minted 27 million tokens, data provided by a popular social media tracker InsidewallETH shows. This is known as a "burn-to-mint" process.

In such a way, Ripple moves tokens between the XRP Ledger and Ethereum while ensuring that the stablecoin maintains its peg. The cross-chain transfer happens with a delay of about 20 seconds.

Of course, such a "burn" is not deflationary, given that just a tiny XRP network fee gets spent during such a transaction.

The stablecoin is currently available only on two chains, but it could potentially appear on other networks such as Cardano.