Data: Issuance of Aave’s native stablecoin GHO exceeds 25 million
On October 17th, according to Etherscan data, the issuance of Aave's native stablecoin GHO has exceeded 25 million, reaching 25,152,308 coins as of now.
Previously reported by Jinse Finance, the Aave community has passed the ARFC proposal "Further Increase the GHO Stablecoin Lending Rate to 3%". The proposal proposes to further increase the GHO lending annual interest rate from 2.5% to 3%, with the aim of strengthening GHO anchoring and increasing income. The discount for stkAave holders remains unchanged at 30%.
The Aave community’s ARFC proposal on “further increasing the GHO borrowing interest rate to 3%” has been passed
Snapshot page shows that the ARFC proposal from the Aave community to "further increase the GHO borrowing interest rate to 3%" has been approved with a support rate of 99.86%, and the proposal has been upgraded to the AIP stage.
Aave Community’s New ARFC Proposal Plans to Further Increase the GHO Borrowing Interest Rate to 3%
Snapshot page shows that the ARFC proposal by the Aave community to "further increase GHO borrowing rates" will end voting at 17:51 today; the required number of votes has been reached and the support rate is 99.92%.
The proposal suggests further increasing the GHO borrowing rate by 50 basis points (bps), from 2.5% to 3%, to strengthen GHO anchoring and increase GHO revenue. The discount for StkAave holders remains unchanged at 30%.
Earlier on September 19th, the Aave community had voted in favor of the proposal to "increase GHO borrowing rates to 2.5%".
Gauntlet proposes decommissioning stablecoin MAI on Aave
On October 14th, Gauntlet, a DeFi risk management firm, proposed that Aave should stop using stablecoin MAI in its lending services due to its significant deviation from its peg. They suggest setting the loan-to-value (LTV) ratio of MAI to 0 and increasing borrowing rates to enable forced liquidation. Gauntlet estimates that the expected impact of forced liquidation is about $70,000.
As previously reported by BlockBeats on October 13th, according to CoinGecko data, stablecoin MAI (MIMATIC) has been deviating from its peg since May 2023 and is currently priced at $0.7232, with a 24-hour drop of 12.3%.
Gauntlet Launches a New Proposal in the Aave Community, Proposing to Abandon the Stable Currency MAI/MIMATIC
According to the official governance page, Gauntlet has proposed to abandon MAI/MIMATIC in the Aave community. The proposal suggests that, given that the price of MAI/MIMATIC has dropped to around $0.72 in the past 24 hours and has been unable to recover its peg for the past few months, Gauntlet proposes to begin abandoning MAI/MIMATIC with the goal of incentivizing repayment by reducing loan terms and increasing borrowing rates.
The Giant Whales Who Were Long on WBTC, ETH and Other Assets on Aave Began to Sell WBTC to Repay Debts, and Are Now Close to the Risk of Liquidation
October 13th, according to Lookonchain monitoring, a whale went long on WBTC, ETH, LINK, UNI and MKR on Aave, and started selling WBTC to repay debt. The whale deposited $11 million in assets on Aave and borrowed $8.45 million in stablecoins. The current health rate is 1.08, approaching the risk of liquidation.
The Aave Community Launches a Temperature Check Proposal to “List crvUSD on the Aave V3 Ethereum Lending Pool”
According to the governance page, October 10th that the Aave community initiated a temperature check proposal to launch crvUSD on Aave V3 Ethereum lending pool. The proposal includes supply limits and borrowing limits of 60 million and 50 million crvUSD respectively, and will be submitted for Snapshot voting after consensus is reached.
The Aave Community Has Voted to Approve the ARFC Proposal “Deploying Aave V3 to Polygon zkEVM”
September 27th, the Snapshot voting page showed that the Aave community has voted in favor of the ARFC proposal "deploying Aave V3 to Polygon zkEVM", which suggests deploying a minimum viable product (MVP) version of Aave V3 on the Polygon zkEVM network to promote Aave's diversity on L2 and expand its influence in the DeFi field.
The proposal plans to deploy Aave V3.0.1 on Polygon zkEVM, which includes three collateral types (WETH, WMATIC, and USDC) and one borrowable asset (USDC).
A Whale Sold 402.5 MKR at an Average Price of $1,314, With a Profit Margin of 262%
A whale address starting with 0xc2b sold 402.5 MKR (worth $529,000) for $1,314 each on CoWSwap 13 hours ago.The token was reportedly bought at an average entry price of $510 and stored in Aave for 2 years. The seller made a total profit of $323,700 (262%).
A Giant Whale Once Again Withdrew 1.15 Million ARB From Binance in the Past 2 Days
Lookonchain monitoring shows that a whale has once again withdrawn 1.15 million ARB tokens (worth 952,000 USD) from Binance in the past two days. The whale had previously gone long on ARB on Aave on July 23rd, but due to a drop in ARB price, they had to sell their tokens at a loss on September 11th to repay their debt.
Aave's Proposal to Deploy Freeze Stewards to Multiple Chains Has Been Passed, Allowing Administrators to Freeze Assets
Aave's proposal to deploy Freeze Stewards to multiple chains has been approved. Freeze Stewards allow administrators to freeze assets, which have already been deployed on the Aave V3 Ethereum pool. This proposal aims to deploy this feature to multiple chains, including Optimism, Arbitrum, Polygon, Metis, and Base.
The Aave Community Is Conducting an On-Chain Vote on the Proposal to "Increase the GHO Lending Interest Rate to 2.5%"
September 18th, the governance page showed that the Aave community is conducting on-chain voting on the proposal to "increase the lending rate of stablecoin GHO". The voting will end on September 19th. The proposal suggests increasing GHO's borrowing and lending annual interest rate from the current 1.5% to 2.5%, with the aim of solving GHO's deviation problem and ensuring its growth and market credibility.
After BTC Fell Below $25,000, an Address Was Liquidated for 219.69 WBTC on AAVE
According to PeckShield monitoring, after the BTC price fell below $25,000, address 0x47ab2b was liquidated for 219.69 WBTC (worth about $5.64 million) on AAVE.
Eight Organizations Including Aave, Circle, and Coinbase Have Jointly Established the “Tokenized Asset Alliance TAC”
Aave, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch, and RWA.xyz have formed the "Tokenized Asset Alliance (TAC)" and become founding members of the alliance. In addition, any organization that shares the vision of "creating a unified financial system on the blockchain" can join the TAC charter.
Aave, Circle, Coinbase and Base Become Founding Members of the Tokenized Asset Alliance
On September 8th, according to Cointelegraph, Aave, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch, and RWA.xyz have formed the Tokenized Asset Alliance (TAC) and become its founding members. However, any organization that agrees with the vision of "creating a unified financial system on the blockchain" can join the TAC charter.
Aave proposes to migrate DAO funds on Avalanche to V3, aiming to increase deposit interest rates
According to the Aave governance page, the Aave community has passed a proposal to migrate funds from the Aave DAO to V3 on Avalanche. The proposal suggests redeeming all Aave DAO funds on Avalanche V2, which is approximately $4.58 million, and transferring them to Aave V3 on Avalanche because V3 has higher interest rates and wAVAX rewards.
Over 43 Million sDAI Have Been Deposited on Aave, Accounting for 5.7% of the Total Supply
September 1st, according to 21.co analyst Tom Wan's monitoring, more than 43 million sDAI have been deposited on Aave, accounting for 5.7% of the total supply. At the same time, since AAVE launched the sDAI pool, the supply of sDAI has also increased by 5.9%.
Aave Will Replace the Suspended State of GHO Assets on Ethereum With a Frozen State
August 29th, the Aave community's proposal regarding the cancellation of the "GHO Pause and Freeze" has been voted on and passed on the chain, replacing the pause status of GHO assets on Ethereum with a freeze status. Previously, Aave had discovered a technical issue in the integration of GHO and Aave V3 GHO pool, so GHO as an asset was temporarily paused by Aave Guardian.
Aave Integration Manager: sDAI has been listed on Aave, wETH borrowing rate is 2.29%
Marc Zeller, the integration lead of Aave, announced on X platform (formerly Twitter) that sDAI has been added to Aave. Zeller added, "Due to the new optimized interest rate curve, the wETH rate is the lowest among current blue-chip protocols, only 2.29%."
Earlier, Marc Zeller submitted an ARFC proposal on the Aave governance forum to introduce sDAI as collateral into the Aave V3 Ethereum pool. According to the proposal, Aave can provide users with dual benefits of earning DSR income and using their assets as collateral. If approved, sDAI and DAI will both serve as reserve assets for the Aave V3 Ethereum pool, with sDAI primarily used as collateral and DAI as a borrowable asset.
A new proposal from the Aave community proposes to replace the DAI quota of Aave GrantsDAO with the GHO quota
On August 25th, Aave community released a new informal proposal called ARFC, aimed at promoting the adoption and use of GHO. The proposal suggests replacing Aave GrantsDAO (AGD) DAI allocation with GHO allocation. Currently, AGD has around $380,000 of unclaimed DAI. This proposal aims to replace AGD's existing DAI allocation with new GHO allocation, which would enable AGD's contributors and grant recipients to receive rewards in GHO as well as any other assets held in AGD's multi-signature. Given that GHO's trading price is below $1, AaveDAO can purchase GHO on the market, which would help support its pegged price, and then use GHO to fund AGD.
This proposal is expected to be implemented after the ARFC proposal to increase GHO rates and technical issues discovered in the integration of GHO with Aave V3 GHO pool are resolved.
