A giant whale withdrew US$17.69 million in assets from Binance, with a current floating profit of US$834,000.
According to Spot on Chain monitoring, a whale with the beginning 0x387 withdrew 19.01 million STORJ (about $13.4 million) and 48,535 AAVE (about $4.29 million) from Binance 13 and 11 hours ago, respectively. Currently, the floating profit of the address is about $834,000.
The Aave community initiated a community vote to characterize "the security incident in early November as a shortage incident" to activate the security module to make up for the deficit.
On November 17th, the Aave community initiated a community vote to classify the "November 4th security incident as a shortfall event". The vote will end on November 20th. The proposal states that users lost funds due to assets being frozen/suspended during the above-mentioned event. Users reported two types of losses: losses caused by liquidation and losses caused by high interest rates and accrued interest. Therefore, the event meets the definition of a shortfall event. If this temperature check is approved, the next step is to activate the safety module.<br>It is reported that the role of the AAVE safety module is to protect the protocol from unexpected financial losses when a shortfall event occurs in the AAVE protocol. If a shortfall event occurs, the safety module will use up to 30% of the locked pledged assets for auction to make up for the deficit. If the amount withheld from the safety module is not sufficient to pay all debts, a temporary mechanism called Recovery Issuance will be triggered to issue more AAVE and use it together with the funds extracted from the safety module to make up for the deficit.
Aave community launches on-chain voting for proposal "Add FXS to Aave V3 Liquidity Pool"
On November 17th, according to the Aave governance page, the Aave community initiated a proposal to add FXS to the Aave V3 liquidity pool for voting on the chain, which will end on November 20th. The proposal suggests adding Frax Finance token FXS to the Aave V3 liquidity pool and diversifying the collateral assets of GHO.
Breaking: DeFi Lender Aave Rebrands to Avara
Decentralized lending protocol Aave has official announced its rebranding to Avara, a move that comes with Los Feliz Engineering buyup
Aave Companies rebrands to Avara, acquires crypto wallet Family to expand web3 ecosystem
Aave Companies, a software technology firm focused on Web3, is changing its name to Avara, according to founder Stani Kulechov. The company, which supports Aave Labs, Aave Protocol, and other entities, has over $8.66 billion in liquidity locked across eight networks and 15 markets. Avara has acquired Los Feliz Engineering, the team behind Ethereum-based crypto wallet Family, to help users enter the Web3 ecosystem. The rebrand and acquisition reflect Avara's desire to expand beyond DeFi and bring Web3 to all users globally with different use cases.
The Aave community has raised the GHO borrowing rate to 4.72%
As displayed on the governance page, the Aave community has passed the on-chain vote for the proposal to "increase GHO borrowing rate from 3.00% to 4.72%" and it has been executed.
Compound launches new proposal 193 to lower collateral factor parameters of 7 tokens
Compound has announced the launch of a new proposal, Proposal 193, aimed at lowering the Compound V2 collateral factor parameters for 7 tokens, which are:
Aave community initiates temperature check on proposal to "introduce GHO to Cosmos and Polkadot ecology"
Aave community has initiated a temperature check proposal on "Introducing GHO Cross-Chain to the Cosmos and Polkadot Ecosystems". The proposal aims to create an incentive loop to increase the demand for GHO, thereby increasing the amount of collateral on AAVE, and providing a decentralized alternative for USDC/USDT on Cosmos/Polkadot.
Aave Companies Launches Decentralized Social Lens V2 on Polygon
Web3 software technology company Aave Companies launched the second version of its social protocol, Lens, during the Devconnect event in Istanbul. The statement said that the update enhances composability and other upgrades, allowing developers to build new social experiences and earn profits more quickly. The team stated that all applications and Lens V1 configurations have been migrated to V2, including 11 million social contacts and over 34 million social interactions.
Aave: All Aave V2 markets have reopened
On November 13th, Aave announced on its social platform that all Aave V2 markets have reopened. Early this morning, Aave Guardian lifted the suspension of Aave v3 markets on Arbitrum, Avalanche, and Polygon.
