Aave Targets L1s, L2s As the Ecosystem Gets Into Aggressive Expansion Mode
The total funds deposited on DeFi lending and borrowing protocol, Aave [AAVE], grew steadily since the start of 2023. As per Token Terminal, the monthly average total value locked (TVL) for March jumped 10% from the previous month’s data, and as much as 18% from January.
Aave Governance Gives OK to BNB Chain, Polygon’s zkEVM
Recent “temperature check” votes provided overwhelming support for adding Aave’s latest version 3 to the newly launched Ethereum layer-2 rollup, Polygon zkEVM, as well as to Binance’s BNB Chain, an alternative layer-1. Both chains employ dapps using the Ethereum virtual machine (EVM).
Aave Eyes Expansion to BNB Chain, Starknet and Polygon zkEVM
Aave, a DeFi lending leader, is looking to expand its reach to other blockchain ecosystems, with a temperature check vote initiated to deploy Aave V3 on Starknet. The proposal seeks to finalize the second phase by fully implementing the Aave protocol on Starknet, a zero-knowledge rollup network. Aave V3 represents the third major iteration of the Aave protocol, introducing new features and optimizations. Aave-Chan Initiative founder Marc Zeller also proposed deploying Aave V3 on BNB Chain to grow Aave's presence and tap into the Binance-associated blockchain's user base. Feedback and input will be gathered from the Aave community before a governance vote is held.
Bitcoin Drops Below $28K as Options Expire, Traders Borrow WBTC From Aave
Bitcoin's market value decreased by 1% to $27,546 on Friday following the expiration of options worth billions of dollars and bearish bets on the cryptocurrency's Ethereum-based wrapped version, WBTC. Market makers sold their spot and contracts to maintain a direction-neutral exposure, leading to the price drop. The sale of borrowed WBTC tokens may have also contributed to the decline. WBTC is the largest wrapped version of bitcoin on Ethereum and can be swapped on a 1:1 basis for BTC. The number of WBTC borrowed from decentralized lending protocol Aave has increased by 29% in two weeks, signaling renewed interest in taking an indirect bearish bet on bitcoin.
Justin Sun-Labeled Address Withdrawn 1M TUSD From AAVE: PeckShieldAlert
PeckShieldAlert @PeckShieldAlert on Twitter: Justin Sun-labeled address has withdrawn 1M $TUSD from AAVE https://etherscan.io/tx/0x3527ecc1824f75e9da5efeb4cb3f2ff0adac6ed54e795ae90a4185fde5aa029d
Aave Backs the Proposed Metis Deployment
Reportedly, the community of Aave has come out supporting the deployment of V3 on Metis. Aave is a DeFi lending protocol that recently registered a TVL of $8.5 billion, and Metis is a layer 2 network on Ethereum. Reports further claim that Metis will roll out $3 million in liquidity mining for Aave users. This includes 100,000 METIS tokens through a reward program.
Crypto Morning Briefing: Coinbase Is Adding DeFi Apps UniSwap and Aave to Its Base Blockchain
NatWest Introduces Transaction Limits To Protect Against Crypto-Criminals; Binance Halts GBP Deposits and Withdrawals; Binance Brings Shiba Inu Payments to Colombia; Web3 Service Unstoppable Domains and Polygon Labs Roll Out .polygon Domains
Coinbase Is Adding DeFi Apps UniSwap and Aave to Its Base Blockchain
Coinbase is busy bringing decentralized finance (DeFi) applications UniSwap and Aave to Base, the U.S.-listed exchange’s layer 2 (L2) network that was launched last month.
Tron Founder Justin Sun Withdrew 82M USDC From Aave and Exchanged Them for 82M DAI
Justin Sun has withdrawn approximately 82 million USDC from Aave Protocol V2 and exchanged them for 82 million DAI.
AAVE DAO Votes for ‘Rescue Plan’ To Save Lost Tokens
Some AAVE users who accidentally sent tokens to the wrong address may soon be able to recover them, according to the text of a proposal passed by the AAVE decentralized autonomous organization (DAO) on March 10. The proposal, called “Rescue Mission Phase 1 Long Executor,” authorized AAVE developers to upgrade smart contracts that have been mistakenly sent tokens in the past, causing the contracts to automatically send the lost tokens back to their original owners.
