Gauntlet Once Again Initiated the Proposal of “Freezing CRV on Aave v2”, and the Voting Will Start Tomorrow
On August 15th, it was announced that the Aave community will open an on-chain vote for the "Freeze CRV on Aave v2" proposal at 6:16 tomorrow, which will end on August 18th. The proposal, put forward by DeFi risk manager Gauntlet, aims to prevent the V2 market from continuing to increase CRV and increase concentration risk.
Data: Aave's native stablecoin GHO circulation exceeds 20 million pieces
According to Etherscan data, the issuance of Aave's native stablecoin GHO has exceeded 20 million since it was launched on the Ethereum mainnet on July 15, with a current total of 20,029,456. Previously, the issuance of GHO exceeded 10 million on August 2.
Aave Token Holders Vote on Governance Proposals to Address Liquidation Risk from Curved Founder's Borrowing Position
Aave token holders are currently voting on two governance proposals aimed at reducing the systemic liquidation risk caused by Curved founder Michael Egorov's large borrowing position on the lending protocol. The proposals seek to disable the borrowing of CRV, the native governance token for stablecoin exchange Curve, on Ethereum and Polygon V3, as well as reduce the liquidation threshold of CRV. <br>
Security Firms Propose Measures to Prevent Future Loans Against $158 Million Worth of CRV Tokens on Aave
Security firms are suggesting measures to prevent future loans against $158 million worth of CRV tokens on Aave, a lending and borrowing platform. Gauntlet, a risk management company, has proposed setting the CRV LTV to 0 to impede additional borrowing against existing CRV collateral. This proposal is open for voting until August 5th. The recent decrease in CRV liquidity has put the entire DeFi ecosystem under stress since Sunday, following an exploit that drove down the price of the CRV token.
AAVE Retraces to Crucial Demand Zone Amid Bearish Futures Market Sentiment
The writer's opinion presented in the following information should not be taken as financial, investment, trading, or any other type of advice. AAVE's price action has fallen to a crucial demand zone, but the futures market sentiment remains bearish. Most altcoins have been exposed to bears' wrath due to the uncertainty surrounding Bitcoin.
Aave's GHO Stablecoin Trades Below $1 Peg Due to Drop in Demand and Limited Integration in DeFi Protocols
Aave's GHO stablecoin, designed to maintain parity with the US dollar, has been trading below its $1 peg since its launch on the Ethereum Mainnet on July 15. The drop in demand for the stablecoin and its limited usage as borrowers cannot hold it for yield farming opportunities are cited as reasons for its inability to trade at its designed peg. On-chain analyst Tom Wan also noted that GHO has yet to see in-depth integration across decentralized finance (DeFi) protocols, which could be contributing to its depeg.
Data: 11.9 Million CRV (About 7.636 Million USD) Transferred to Aave
According to Whale Alert monitoring, 11.9 million CRV (approximately $7.636 million) were transferred to Aave from unknown addresses.
Aave Stablecoin GHO Recovers After Depeg Possibly Linked to Curve Hack
Aave's stablecoin GHO briefly lost its $1 peg on July 31, dropping to $0.96 before regaining its peg after about two hours. The depeg was likely caused by a reentrancy attack on Curve Finance, which also resulted in the platform losing over $47 million.
Aave's V3 Deployment Attracts 10,000 Unique Addresses and $2.24 Billion in Deposits Within Six Months
Aave's V3 lending protocol has attracted over 10,000 users in less than six months due to increased user activity. The value of assets locked (TVL) has grown by 60% since the launch of V3, reaching $6.12 billion at present. Aave's TVL growth has propelled it to replace MakerDAO as the second-largest DeFi protocol after Lido Finance.
Aave Replaces MakerDAO As Second-Largest DeFi Protocol by TVL, While Maker Co-Founder Accumulates MKR Tokens
Aave has overtaken MakerDAO as the second-largest DeFi protocol in terms of total value locked (TVL), according to DefiLlama data. This is due to a 15% drop in Maker's TVL since March 10, caused by the collapse of Silicon Valley Bank, the depeg of USDC and its DAI stablecoin, and a fall in DAI supply rates.
