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.
