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LEND Price   

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LEND Price:
$74.8 K
All Time High:
Market Cap:
$31.8 M

Circulating Supply:
Total Supply:
Max Supply:


The price of #LEND today is $0.96 USD.

The lowest LEND price for this period was $0, the highest was $0.960, and the current live price for one LEND coin is $0.95972.

The all-time high LEND coin price was $6.63.

Use our custom price calculator to see the hypothetical price of LEND with market cap of BTC or other crypto coins.


The code for Aave crypto currency is #LEND.

Aave is 6.6 years old.


The current market capitalization for Aave is $31,848,995.

Aave is ranking upwards to #2501, by market cap (and other factors).


The trading volume is modest during the past 24 hours for #LEND.

Today's 24-hour trading volume across all exchanges for Aave is $74,837.


The circulating supply of LEND is 33,185,703 coins, which is 3% of the maximum coin supply.


LEND has very limited pairings with other cryptocurrencies, but has at least 1 pairing and is listed on at least 2 crypto exchanges.

View #LEND trading pairs and crypto exchanges that currently support #LEND purchase.



Exploring New Frontiers with Aave

During the summer of 2020, DeFi matured, developed, and defined its product-market fit. Now, it’s time for the Aave Protocol to enter the scalability phase and bring decentralised finance back into everyone’s hands, even those with 3 figure portfolios. — Focus on Ethereum. — Aave was born and raised on Ethereum L1, and the Ethereum community was a huge catalyst for the development of the protocol and growth of the Aave Community. Ethereum and the EVM is the center of gravity for DeFi, and no other network comes close to Ethereum’s network effect. However, on a public blockchain, having a slot on a block is defined by supply and demand. Block space supply today is scarce and limited, and since the “DeFi Summer” of 2020, demand for using Ethereum and DeFi has never slowed down. High transaction fees are a feature of a successful public blockchain, as they define actors ready to pay the market price to use the decentralised services. That being said, DeFi was always intended to create a sustainable and more inclusive alternative to traditional finance. If DeFi is great but only limited to certain high networth users, DeFi will fall short of its mission to be finance for everyone. — Multi-Market Approach, ETH L1 as a Settlement layer. — The solution is on the side of scalability layers of Ethereum: Sidechains, rollups, and zero-knowledge-based solutions are quite complex, but fortunately for us...

Aave AMM Market Released

The Aave Protocol is a decentralised liquidity protocol, which allows users to unlock liquidity across various assets in a multi-pool approach. The new AMM Liquidity Pool enables liquidity providers (“LPs”) of Uniswap and Balancer to use their LP tokens as collateral in the Aave Protocol. — The Rise of AMMs. — With the rise of Uniswap in 2018 and the emergence of “Automated Market Makers” (AMMs) in the DeFi ecosystem, users of Ethereum are now able to swap assets without the need for centralised third-party intermediaries. Users are able to facilitate the provision of liquidity and earn fees for doing so. — How do LP tokens work?. — By providing liquidity, users automatically obtain LP tokens from the AMM. In most cases, LP tokens represent the crypto assets the user deposited into the AMM along with a proportional scale of the trading fees collected over time in the particular liquidity pool into which the user deposited assets. (Frequently, the LP token represents a 50/50 ratio with ETH and another crypto asset, making them potentially less volatile than their underlying assets.) Because LP tokens typically accrue trading fees over the time the user’s assets remain in the liquidity pool, the LP tokens potentially accrue value over time as well. AMMs were one of the first ways to earn a passive income in the DeFi ecosystem and remain so today. — A first successful Proof of Concept...

Aave Protocol migration tool released

The wait is finally over — the migration tool to upgrade full positions from Aave V1 to Aave V2 is now available to all users! — Seamless upgrade - Migrating full positions, even when you have positions opened, is now accessible directly on your V1 dashboard. Under the hood, the migration tool is powered by Flash Loans and in a single transaction will: take liquidity from Aave V2, use it to pay back your loans in V1, migrate your V1 collateral to V2, open up equivalent positions in V2, bring back the liquidity to V2, This complex transaction is done on auto-pilot so all you need to do on your side is select the collaterals and positions you want to upgrade and click on ‘migrate’. Reminder: you will need ETH to cover the transaction fees of this transaction. If you have positions opened, the tool will inform you of your new HF. Please be mindful of this new HF to mitigate liquidation risks. Complex operations on the Ethereum blockchain can be costly, so if you have many assets borrowed and deposited into V1, feel free to migrate in several batches. We do not recommend migrating more than 5 assets (Deposited & Borrowed) in a single migration transaction. — The future of V1 - The Aave Protocol V2 is the future of Aave and already ~820M$ of liquidity adopted the upgraded version of Aave, but feel free to migrate to V2 at your own pace! The V1 contracts are always running on the Ethereum Blockchai...

Aave V2 Design Upgrade

When setting up the design and user flows back in 2019 before the release of Aave Protocol on mainnet, we did not anticipate the enormous growth of Aave and the DeFi space. Like our TVL, our ideas kept growing with new features for Aave users. The addition of these new features would require more workable space in the user interface. The design team decided to overhaul the layout of the user interface. In V1, the main navigation was on the left side which interacts with the ‘content area’ on the right side. This seemed to work fine for V1. However, with the release of V2 and additional features such as staking, governance, yield & collateral swaps, repay with collateral, credit delegation, stable and variable borrowing, and many more to come, it was clear that V2 needed a change of layout to accommodate all these new features. Additionally, preparing for future scalability is always important, especially in a space that innovates as rapidly as DeFi.V2 Colour Palette After conducting research about dark and light mode for the UI, the design team settled on a “hybrid” combination between light and dark mode solution for the default V2 colour scheme. After the initial release of V2, more colour themes will be released and users will be able to select and set their preference. These colour schemes will be: default, dark mode, and light V1 Aave. For the fans missing the flashy purple/blue colour all over the UI, no ne...

Aave Protocol Governance V2 has been activated!

The Aave Protocol V2 launched just over a week ago, and has rapidly grown in market size, now reaching over $98M. The V1 → V2 migration tool has not even been released yet (Soon™), so this growth is particularly Aavesome. Last week, there was a governance vote on AIP-4, a proposal to activate Aave V2 governance. The votes were validated over the weekend, and today it’s time for the next milestone on the decentralisation journey: The release of V2 governance! With V1 governance, only the Aave Genesis Team could submit Aave Improvement Proposals (AIPs). AIPs are binding on-chain governance proposals that require some technical knowledge and automatically execute once the votes are in and validated. Today, any Aave community actor that meets the requirements can create an AIP to add a new token to the protocol, update risk parameters, add a new liquidity market, and more! V2 governance aims to be inclusive of everyone with a stake in the Aave ecosystem and preserve decentralisation and security.Aave V2 Governance Segregation between proposition and voting power AAVE and stkAAVE holders are not only able to create proposals themselves with V2 governance, but also delegate this proposal creation power to another actor! You’ve probably already heard that vote delegation would be a thing in V2, but one of the most innovative mechanisms of V2 governance is that AAVE holders can separately delegate their proposal power and vot...

Aave Security Newsletter

As part of Aave’s focus on security and transparency, the Aave Genesis team will be periodically releasing a report centred on the security of the Aave Protocol and all the other systems of the Aave ecosystem. — Aave Governance v2 - ARC (Aave Request for Comments) After the release of the Aave Protocol v2 last week, the upgrade of the Aave Governance from v1 to v2 has been submitted to the community for discussion. More details about the proposal can be found in the governance forum, but in terms of security, there are certain aspects to highlight: 1. As with any other software system, some parts of the infrastructure are critical. The Aave governance has the objective of controlling all the different parts of the ecosystem, and taking into account the aforementioned, permissions over contracts are split between 2 different smart contracts, with different configurations. The first (Executor with long timelock) has control over pieces with low frequency of interaction, like the AAVE governance token or the StkAAVE of the Safety Module. The second (Executor with short timelock) has control over pieces with higher frequency of interaction, like the Aave Protocol v1 and v2. Having a longer timelock on changes concerning tokens, and in general longer time-configurations is usually a good practice security-wise, as it leads to longer reaction window for any external party integrating the tokens. 2. The design goals of this ...

The Aave Protocol V2

It’s the moment we’ve all been waiting for… V2 of the Aave Protocol on mainnet! The Aave Protocol V1 launched at the beginning of this year, with the goal of unlocking value in DeFi and improving the user experience. The protocol quickly grew to over $1B market size in less than 6 months, record growth for the DeFi space! V1 brought to market innovations like Flash Loans and aTokens as new ways to unlock previously locked capital in DeFi and provide a permissionless savings account. The Aave Protocol took major steps toward becoming more decentralised with the handover of the Admin Keys to the community. The Aave ethos is that finance should be as you like it, and with a working governance and “Aavenomics”, the future of the protocol is in your hands. This week the Aave Protocol hit another major milestone, with $1B in Flash Loans volume! Due to the 0.09% fee for Flash Loans, this has created an additional $906K going to reward depositors since the launch of V1. Today, the Genesis Team is happy to introduce some Aavesome new features to unlock more value in DeFi and make the overall experience more seamless. The Genesis Team is excited about this glow up, and your feedback throughout the V1 phase has been the inspiration for these updates. For more details on V2, feel free to read the Whitepaper. — What’s new with V2? - — Yield & Collateral swap. — In DeFi, assets that were being used as ...

Aave V2 is Available on Public Testnet!

A while ago, the Genesis Team released this plan outlining some features to expect with Aave V2, making finance a more seamless experience. Today, Aave V2 is live on the Kovan testnet, and you can check it out here. Since the beginning of 2020 when the Aave Protocol first launched, the Genesis Team has collected feedback from the community which has been invaluable in making improvements to the protocol. Now the governance power is in your hands, and the Genesis Team will take on the role of builders who gather popular proposals on the governance forum, and enact the updates voted on by the governance. Aave V2 is a culmination of community feedback that brings some architecture redesign to upgrade the protocol, along with some exciting new features to push the limits of the DeFi user experience with new tools and UI/UX improvements. You can find the whole documentation here. — How to Test Aave V2 - You can test Aave V2 without spending real assets on the testnet client here! Be sure to switch your wallet provider to the Kovan network in order to use the testnet free of cost. You can get tokens to test from the faucet here — simply select the token of your choice and submit the transaction. Make sure to have ETH before using the faucet. You can find the Kovan ETH faucet here. For further instructions on how to test the Aave Protocol on testnet, including how to get ETH for testing, feel free to refer to the testin...

Aave x HackMoney is back!

After a memorable edition last year, the EthGlobal team is back with a second edition of EthOnline and the HackMoney hackathon! Aave is proud to sponsor the event again and will be present during the whole event to support builders. This edition gives hackers 3 full weeks to hack their best project on Aave and take their fair share of the 8000 aUSDC Aave prize pool! — The Aave Journey - During the last edition in April 2020, Aave was a 50M$ Money Market Protocol and the ecosystem was just discovering the use-cases of Flash Loans and debating the concept of stable rates. Now Aave is a 1.8B$ Money Market Protocol with 20 assets and an imminent migration from the LEND to the AAVE asset allowing the Aave community to take full control of the Aave Protocol. 400M$ volume of Flash Loans have allowed swift liquidations for a safer and more resilient DeFi ecosystem and arbitrage for more liquid markets. On average, 20% of all Aave loans are now using stable rates to protect borrowers from short-term volatility. BUT we’re still in the early days of the Aave journey! The upcoming V2 upgrade of the protocol will soon offer a wider playground for developers. The V2 architecture is very close to V1, migration of projects built during the hackathon should require minimal tweaks for a V2 upgrade. — 3 Weeks, Endless Opportunities - David Truong prepared special documentation full of resources and ideas for this hackathon. F...


UwU Lend Protocol Hit by Another $3.7 Million Hack Amid Ongoing Recovery...

    The UwU Lend protocol, previously targeted in a nearly $20 million hack on June 10, is facing an ongoing cryptocurrency exploit that has so far resulted in the theft of $3.7 million. This development comes as the protocol has been making efforts to reimburse its users following the $19.3 million June 10 hack. $3.7 Million Hack Cyvers, an on-chain data analytics platform, was the first to alert UwU Lend about the ongoing exploit. According to its findings, the bad actors behind this latest incident appear to be the same as those responsible for the earlier $19.3 million heist. ALERT@UwU_Lend has suffered another security breach by the same attacker! Total loss: $3.7M Affected pools: uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, uUSDT All stolen assets have been converted to $ETH and are located at the attacker's address: To learn… — Cyvers Alerts (@CyversAlerts) June 13, 2024 The stolen funds, sourced from various asset pools, including uDAI, uWETH, uLUSD, uFRAX, uCRVUSD, and uUSDT, have already been converted into Ethereum and transferred to the attacker's address. Following the initial breach on June 10, the development team at UwU Lend notified the community that they had implemented immediate measures to mitigate the damage. The protocol was temporarily paused while investigations were conducted into the vulnerabilities exploited by the hackers. In an update shared on June 12 via a thread on X, the UwU developer team dis... read More

Liquidation Alert As High-Risk Loans On Aave Reach $1 Billion – De...

    According to a report by data analytics company IntoTheBlock, the volume of high-risk loans on the prominent Aave Protocol is reaching high levels as general loan volume in the DeFi space records multi-year highs. This development is believed to stem from investors exploring various investment strategies in a bid to maximize profits in a highly anticipated crypto bull run. Aave’s High-Risk Loans 5% Short Of Liquidation Threshold In its weekly newsletter on June 8, IntoTheBlock highlights that DeFi loans are currently estimated at  $11 billion representing the peak value seen in the last two years. As the largest lending protocol, Aave accounts for over 50% of these figures with its users having borrowed about $6 billion.  Notably, $1 billion of this debt is categorized as high-risk loans which are placed against volatile collateral. Currently, these loans present substantial risk, with the values of their collateral asset within 5% of their set liquidation threshold. For context, the margin call level or liquidation threshold is a predetermined point at which an asset's value falls to a level where the lender or broker requires the borrower to add more collateral to maintain the loan or position. Failure to meet this requirement may result in the automatic liquidation of such collateral.   When collateral assets hover around this critical threshold as with the high-risk loans on Aave, any minor dip may lead to widespread liquidations. This normally res... read More

Aave Labs Unveils Major Upgrades and Expansions with Aave V4 Proposal

    Aave Labs, the team behind the DeFi lending platform Aave, has proposed a slew of major upgrades and expansions two years after introducing its V3. The suggested improvements include Aave V4, Aave Network, a Cross-Chain Liquidity Layer, non-EVM L1 deployments, and a fresh visual identity. Aave V4 According to the latest blog post, Aave V4 will be built with a brand-new architecture featuring an efficient and modular design while aiming to minimize disruptions to third-party integrators. The most important architectural change of the latest iteration is the proposed introduction of a Unified Liquidity Layer, which expands on the Portals concept introduced in Aave V3. This layer enables a fully agnostic, independent, and abstracted infrastructure for liquidity provisioning. It is also proposed to manage supply/draw caps, interest rates, assets, and incentives while enabling other modules to draw liquidity from it. This would allow the Aave DAO to add or remove borrow modules without the need to migrate liquidity. The main function of this architecture approach is to facilitate the addition or improvement of borrowing features without overhauling the entire system or the liquidation module while simultaneously addressing the issue of fragmented liquidity present in older versions of the protocol. Aave's proposal revealed that the liquidity layer is capable of natively supporting both supplied and natively minted assets, thereby improving integration with GHO and other collateral... read More

Aave Joins Binance's BNB Chain Ecosystem – Here's How Users Benefi...

    In a significant development for the Binance Smart Chain (BSC) ecosystem, Aave (AAVE), one of the largest decentralized finance (DeFi) market protocols, has announced its integration with BNB Smart Chain. Aave joins prominent projects such as Uniswap, Ambit Finance, PancakeSwap, and Lista DAO. BNB Chain Welcomes Aave According to the announcement, this latest development opens up new opportunities for BNB Chain users, giving them access to what the protocol calls 'top-tier lending platforms' and enhanced liquidity. With the launch of First Digital USD (FDUSD), users can now leverage 'robust' liquidity, allowing them to explore different applications and opportunities in the Binance ecosystem. On the other hand, Aave users can now benefit from BNB Chain's fees and the ability to integrate with one of the largest DeFi ecosystems, fostering increased collaboration between the two communities. The announcement also noted the following about the Aave integration: This not only complements but strategically aligns with BNB Chain's 2024 outlook. Focused on mass adoption, high-frequency DeFi applications, and network efficiency improvements, the ecosystem is set for an exciting evolution. 2024 Goals Looking ahead, BNB Chain has set numerous goals for 2024. The introduction of opBNB - the Layer 2 (L2) scaling solution for the BNB Smart Chain - aims to achieve a transaction processing capacity of 10,000 transactions per second (TPS) by doubling the gas limit to 200 M/s. Enhanced secu... read More

Gauntlet Will End Contract With AAVE DAO

    Aave, the popular decentralized lending platform belonging to the company now known as Avara, will have to look for a new company to provide risk management services following its recently announced split with Gauntlet. The decision was announced by Gauntlet co-founder John Morrow on the AAVE forums yesterday evening. Running The Gauntlet According to Morrow, the relationship between his company and the Aave DAO that oversees the protocol has become strained due to inconsistent guidelines and unwritten requests and objectives by the largest DAO stakeholders. Gauntlet has already started looking for companies that can replace their services and has stated that they are open to working together with Aave/Avara again in the future. With that being said, current circumstances have led Gauntlet to the decision to part ways. “We’re proud of our work […]. Almost everyone on our 60-person team has contributed to Aave or worked on the infrastructure supporting it. It is because of all this that it pains us to say that Gauntlet is no longer able to continue our work with Aave. We will be terminating our payment stream as soon as possible and working with other contributors to find a replacement for the Risk Steward.” Morrow cited incidents such as the AIP-371 fiasco and Chaos on Optimism as some of the catalysts for the decision. He also mentioned certain actions his company took for other platforms, which Aave DAO stakeholders allegedly regarded as &ldquo... read More

Aave V3 Ready For Solana After This Crucial Vote Passed

    The Aave community has overwhelmingly approved a proposal that will set the ball rolling for deploying Aave V3 on Solana, a smart contracts platform. The motion, put forward by the Neon Foundation and the Aave Chan Initiative (ACI), passed with a majority vote of 83% based on results posted on January 21. Solana Fast Rising, DeFi Ecosystem Active Solana has been rapidly expanding, with its native currency, SOL, emerging as one of the top performers in 2023. According to on-chain data from DeFiLlama on January 22, Aave manages over $6.9 billion worth of assets across ten chains. A big chunk, over 90%, comprises assets on Ethereum. Aave v3 has a total value locked (TVL) of $4.9 billion. Aave V3 On Solana, What It Means The TEMP CHECK proposers are keen on Aave v3 deploying on Solana, considering the blockchain's rapid growth in the past year. They observe that the blockchain's DeFi TVL and broad user base would likely benefit the lending and borrowing protocol, cementing its position as a market leader.  If Aave is deployed on Solana, the protocol will access the deep liquidity on the blockchain. At the same time, users will access Aave services more conveniently. Subsequently, the proposers reiterated this move will cement Aave's position as the leading liquidity market on-chain. Moreover, it will likely open up new opportunities for collaboration between the Aave, Solana, and other Neon EVM communities.  Neon EVM is a cross-chain bridge for users t... read More

Aave Ecosystem Rebranding to Avara

    Stani Kulechov – the founder of Aave Companies – has announced that the network of blockchain entities and ventures that he created has rebranded as Avara. Rebranding to Reflect New Priorities According to Kulechov, the name change reflects Avara’s new mission to go beyond DeFi by bringing Web3 to “all users globally with different kinds of use cases.” Before being known as Aave, the organization used to be EthLend but changed its name when its scope outgrew its previous targets. Much like the prior name, Avara is a Finnish word used colloquially as “to see more than you can see.” The change applies to the family of entities formerly operating as part of Aave. Aave Labs, Aave Protocol, and the AAVE token will each keep their names. The GHO stablecoin will also continue to operate under the same name. Plans for The Future Kulechov shared that a major focus for his group in recent months has been the Lens Protocol, a social network protocol for Web 3. “We really want to send a signal that we are in a time now with web3 where we’re building that interface on the existing infrastructure where people can actually interact in a way where it’s familiar to them. […] More recently, with Lens Protocol, we’ve been building virtually social, so decentralized social media, that basically any developer can actually build their applications on top.” Avara has also recently bought Los Feliz Engineering for an undi... read More

Aave V3 Markets Resume Operations Following Security Vulnerabilities

    Aave V3 markets have been unpaused by the Community Guardian, signaling the resolution of the issues that prompted the temporary measures. The move follows the execution of a governance proposal voted on earlier. Additionally, Aave V2 Ethereum is anticipated to be unpaused tomorrow, a decision accelerated due to block times on voting and operational considerations. Aave Resumes Operations Decentralized lending protocol Aave has successfully resumed operations after implementing precautionary measures earlier this month in response to security vulnerabilities. In turn, the Aave DAO expressed gratitude for the prompt action taken by the Community Guardian in unpausing affected Aave V3 markets. Affected Aave V3 markets have been unpaused by the Community Guardian following governance proposal execution. Thanks to the Aave DAO for their prompt action. For further details on the Ethereum V2 market follow the governance discussion here: — Aave (@aave) November 12, 2023 On November 4, Aave temporarily paused its V2 Ethereum market and suspended assets on Avalanche, Polygon, Arbitrum, and Optimism. Other Aave markets, such as Aave V3 on Ethereum, Base, and Metis, as well as Aave V2 on Polygon and Avalanche, remained unaffected. The team temporarily halted the markets due to a reported problem with a specific feature. The pause was described as a precautionary measure following the identification of vulnerabilities. Although the s... read More

Aave V2 Operational, Will Bulls Break The 15-Month Resistance At $110?

    All Aave v2 markets are now operational, the team behind the non-custodial liquidity protocol announced in a November 13 post on X. This a day after v3 markets were unfrozen following the approval from the community. Aave is a platform where users can supply liquidity in exchange for rewards while borrowers are free to take loans while paying interest in a trustless environment. Aave v2 Markets Unfrozen, Security Is 'Non-Negotiable' In the post, Aave said the security of the decentralized finance (DeFi) protocol remains a 'priority and is non-negotiable for the community.' On November 4, Aave said they received a report 'of an issue on a certain feature.' After being validated, the protocol decided to take a step and pause the operation of their v2 markets on Ethereum. At the same time, some v2 markets on Avalanche were frozen. Even so, the v2 markets on Polygon were unaffected.  Aave also froze operations on Aave v3 on Polygon, Arbitrum, and OP Mainnet. However, v3 markets on Ethereum, Base, and Metis were unaffected.  While Aave v2 and v3 markets were frozen, the protocol clarified that users supplying or borrowing affected assets could still withdraw and repay their positions but couldn't supply or borrow more. With those markets unfrozen, they can now continue as it was before. Will Bulls Ease Past $110? The resumption of services, looking at the AAVE candlestick arrangements in the daily chart, has not impacted prices. However, the token is trading ... read More

Aave V2 Ethereum Market and Several Assets Paused — Team Says 'No ...

    The decentralized finance (defi) protocol Aave's so-called guardian said on Nov. 4 it had paused the Aave V2 Ethereum Market and frozen 'certain assets on Aave V3 on Polygon, Arbitrum, Optimism.' At the time when the update was issued, Aave said an analysis of what happened would be made available when the issue is resolved.'Temporary Prevention Measure' On Nov. 4 the guardian of Aave, the open-source and non-custodial liquidity protocol, paused the Aave V2 Ethereum Market and certain assets on Aave V2 on Avalanche. It also froze assets on Aave 3 on three chains, namely: Polygon, Arbitrum and Optimism. The step, which has been framed as a 'temporary prevention measure,' was taken after the Aave team received a report concerning the protocol. Today we received a report of an issue on a certain feature of the Aave Protocol. After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk): - Aave (@aave) November 4, 2023 In an update shared via X (formerly Twitter), the Aave team insisted that no user funds were at risk. The update added that neither the Aave V3 markets on Ethereum, Base and Metis, nor the V2 markets on Polygon and Avalanche were affected by the reported issue. At the time when the update was issued, Aave said an analysis of what happened would be made available when the issue is resolved. 'A governance proposal to restore the normal operation of the protocol will be submitted shortly. [A] detai... read More

Aave Initiates Vote to Temporarily Disable Stable Borrows Across All Net...

    Decentralized finance (DeFi) platform Aave has taken a significant step to bolster security measures, initiating a crucial vote to disable stable borrows on all networks. This proactive move comes in response to a reported attack vector by a white hat, prompting Aave to suspend certain market operations as a precautionary measure temporarily. The platform aims to safeguard user funds and maintain the integrity of its protocol. Aave Disables Stable Borrow Rates In light of the recent attack vector report, Aave has decided to disable stable borrow rates for all assets across all pools and networks. This proposal encompasses a threefold approach. Aave will utilize the POOL_CONFIGURATOR to set the reserve stable rate borrowing to false for all assets with stable borrowing enabled on v3 pools. This step ensures that stable borrowing is temporarily halted on these pools until further notice. The POOL_CONFIGURATOR will then disable reserve stable rates on the Ethereum v2 pool, further fortifying the security measures in place. Assets that the freeze steward previously froze as a risk mitigation measure will be unfrozen, reinstating their accessibility and liquidity within the Aave ecosystem. Safeguarding Aave Markets In response to the reported vulnerability on November 4, Aave implemented immediate measures to protect its markets. These measures include the temporary suspension and freezing of affected markets. Specifically, the Aave v2 Ethereum Market and specific assets on Aave v... read More

Aave Protocol Halts Certain Market Operations Due To Bug Report

    Decentralized finance (DeFi) platform Aave has suspended operations in a number of markets after receiving a problem report on a certain function of the protocol. DeFi Protocol Discovers Vulnerability; Is User Funds At Risk? On Saturday, November 4, decentralized lending protocol Aave announced - via a post on X (formerly Twitter) that it has paused the Aave V2 Ethereum market and suspended certain assets on Avalanche. In addition, the protocol has frozen specific assets on Aave V3 on Polygon, Arbitrum, and Optimism.  Today we received a report of an issue on a certain feature of the Aave Protocol. After validation by community developers, the guardian has taken the following temporary prevention measure (no funds are at risk): — Aave (@aave) November 4, 2023 According to the protocol’s announcement, these actions serve as a temporary precautionary measure following a problem report on a specific feature.  Furthermore, Aave said in the post that the Aave V3 markets on Ethereum, Base, and Metis and the V2 markets on Polygon and Avalanche are unaffected. Meanwhile, no funds on any of the markets were at risk, according to DeFi lending protocol. On 11-04 17:38:35 UTC, Aave Guardian has taken necessary protection measurements to pause AaveV2 protocol (and all Aave pools are safe): Given the protocol is “forked” by multiple third parties and the exact details are not disclosed yet, it is… read More

LINK, APT, AAVE Soar by Double Digits, BTC Flirts With $30K (Weekend Wat...

    Bitcoin kept putting the pressure on and tapped a new multi-month peak at $30,400 hours ago but has lost some ground and currently sits just under the coveted $30,000 mark. The altcoins are mostly in the green again, with LINK, APT, and AAVE emerging as today's top performers with notable double-digit price pumps. BTC at $30K Bitcoin pumped and dumped hard on Monday amid false news that the US SEC had finally greenlighted a spot BTC ETF. In a matter of minutes, the asset went up and down by around $2,000. However, the bulls didn't give up after the news was proven to be fake and kept pushing the cryptocurrency north. As such, it maintained $28,000 and started heading upward on Friday evening, which resulted in jumping above $30,000 for the first time since July. After a brief retracement, BTC went on the offensive once again on Saturday evening, which resulted in touching $30,400 - a new multi-month peak. As of now, bitcoin trades inches away from $30,000, but its market capitalization has maintained above $580 billion. Its dominance over the altcoins, though, has declined slightly, but it is still north of 51% on CMC. BTCUSD. Source: TradingView LINK, APT, AAVE on a Roll The altcoins also followed BTC on the way up during the business week. On a daily scale, most are slightly in the green once again, too. Ethereum, Binance Coin, Solana, Cardano, Dogecoin, Tron, Toncoin, Polygon, and Polkadot have all charted minor gains of up to 2%. While most other mid-cap alts are also in ... read More

This Trader Is On The Brink Of Losing Money, Will Selling WBTC On Aave V...

    A trader on Aave, a decentralized liquidity protocol operating on multiple platforms, including Ethereum and OP Mainnet, has begun selling wrapped Bitcoin (WBTC) to repay outstanding debt, records on October 13 reveal. WBTC is a tokenized version of Bitcoin issued on Ethereum that allows holders to engage in decentralized finance (DeFi) activities. Trader Selling WBTC To Repay Debt On Aave v2 According to Lookonchain data, the unidentified trader marked with address “0x47ab” borrowed roughly $8 million worth of multiple stablecoins, including USDC, USDT, and DAI, Maker's stablecoin, on Aave v2 after depositing various assets, including WBTC, Maker (MKR), and Ethereum (ETH) worth approximately $11 million. When writing, the health factor of borrowed assets stands at 1.09, teetering close to liquidation. According to Aave’s documents, the health factor is a metric that compares the safety of collateral and borrowed loans to the underlying value. Technically, the higher it is, the safer the funds are from liquidation. If the health factor exceeds $1, deposited collateral will be liquidated to borrow outstanding loans.  Aave is a popular decentralized finance (DeFi) protocol where token holders can choose to supply liquidity and earn passive income. At the same time, users can deposit collateral and borrow overcollateralized loans, which they can repay at any time, provided the health factor is around 1. Since loans are overcollateralized, ... read More

Curve Founder Michael Egorov Completes Aave Debt Repayment: Data

    As per insightful analysis from Lookonchain, Michael Egorov, the founder of Curve DeFi network, has fully completed the payment of his remaining debt associated with DeFi lending protocol Aave. Egorov's debt repayment spree was triggered by liquidation risks last month when CRV tokens plunged in value following a massive network exploit. Egorov Settling Debts As per Lookonchain, Egororv settled the debt by depositing 68 million CRV ($35.3 million) into Silo, a non-custodial lending protocol. The cryptocurrency influencer then borrowed 10.8 million crvUSD from Curve over two days, converted it into Tether's USDT stablecoin, and promptly repaid the entire debt on Aave. Michael Egorov deposited 68M $CRV ($35.5M) to #Silo and borrowed 10.77M $crvUSD in the past 2 days. Then swapped $crvUSD for $USDT and repaid the all debt on #Aave. He currently has 253.67M $CRV($132.52M) in collateral and $42.7M in debt on 4 platforms. — Lookonchain (@lookonchain) September 27, 2023 Interestingly, reports indicate that following the deposits onto Silo, the network’s TVL reached an all-time high of $60 million. According to Lookonchain, even though Egorov paid the Aave debt, he still holds a considerable debt, about $42.7 million, in four DeFi networks. This includes a 17.1 million crvUSD debt on Silo, a 13.1 million FRAX debt on Fraxlend, a 10 million DOLA debt on Inverse, and a $2.5 million combined USDC and USDT debt on Cream. How... read More

Curve Founder Michael Egorov Clears Aave Loan, Reduces Total Debt To $42...

    Michael Egorov, founder of Curve Finance, has settled his loan on the Aave Protocol and cut his total debt to $42.7 million.  Egorov’s DeFi debt profile was revealed on August 1 following a Curve Finance hack that extracted $73.5 million worth of assets across various liquidity pools.  As expected, the exploit caused a significant decline in the price of CRV, with the Curve governance token losing over 24% of its value in a single day, based on data from CoinMarketCap. This fall in CRV’s market price brought much attention to Egorov’s multiple debt positions.  According to a report by blockchain research firm Delphi Digital, it was revealed that the Curve Finance founder owed around $100 million across several DeFi protocols. Interestingly, these loans were collateralized by 427.5 million CRV tokens, representing 47% of the entire CRV circulating supply.  Therefore, the dwindling price of CRV presented a threat of liquidation, which could have been dangerous to the entire DeFi ecosystem.  Michael Egorov Closes Debt Profile On Aave Protocol According to a report on Wednesday by the on-chain analytics platform Lookonchain, Micheal Egorov has now cleared his debt on the Aave protocol.  The report stated that the Curve Founder deposited 68 million CRV, worth $35.5 million, on DeFi lending protocol Silo before proceeding to borrow $10.77 million worth of the stablecoin crvUSD. After that, Egorov swapped the crvUSD tokens for USDT an... read More

Curve Impressively Adds 22% As Founder Sells CRV To Repay Aave Loan

    CRV, the governance token of Curve, a decentralized exchange for stablecoins and a key player in the decentralized finance (DeFi) landscape, has impressively recovered, adding 22% after sinking to its August 2023 lows this week. When writing on August 3, CRV is trading at $0.59, rising double digits after dropping to $0.48 on August 1 following a damaging hack that saw liquidity providers in several pools lose funds.  Whales Stepping In To Buy CRV This recovery is attributed primarily to strategic actions by notable crypto whales who have stepped in to mitigate risks on DeFi should CRV prices continue to tank. Meanwhile, Michael Egorov, the founder of Curve and one of the largest CRV holders, has been actively unloading tokens in the secondary market. Egorov is selling to whales like Justin Sun, the founder of Tron, and other venture capitals and decentralized autonomous organizations (DAOs). The founder held around 292 million CRV and used a big percentage to back his loans. On-chain data indicates that on August 2, Egorov sold 3.75 million CRV tokens to Yearn Treasury and another 1.25 million CRV tokens to Stake DAO Governance via the over-the-counter (OTC) market. Egorov has, overall, sold 59.5 million CRV to various institutions and investors, yielding approximately $23.8 million. These OTC sales are at significant discounts, reflecting the founder's efforts to stabilize CRV prices and prevent further contagion. The July 30 hack saw attackers steal fund... read More

Aave Launches GHO Stablecoin on Ethereum Network

    Aave, a prominent lending protocol within the decentralized finance (defi) sphere, has unveiled GHO, a new stablecoin, which is now live on the Ethereum network. Aave users can now mint the stablecoin asset by leveraging Aave version three (v3).Aave's Dollar-Pegged GHO Token Goes Live on Ethereum This week, on July 14, 2023, Aave's community approved a governance proposal, swiftly followed by the much-awaited launch of the stablecoin GHO on the Ethereum network. GHO, initially announced in July 2022, had a test run on Ethereum's Goerli testnet in February 2023. In line with the information from the Github repository, the newly debuted stablecoin, and its affiliated smart contract underwent multiple audits. Currently, GHO is relatively insignificant when compared with the top ten heavyweights of the stablecoin world, especially when considering circulating dollar-pegged coins. The circulating supply of GHO stands around 2,510,269 tokens, representing a meager 0.0016% of the overall $127 billion stablecoin economy. At 12:20 p.m. Eastern Time on Sunday, GHO hit a trough at $0.9813, yet so far, it has generally maintained its peg to the dollar. Emulating numerous stablecoin assets, individuals can gather interest with Aave's freshly debuted GHO stablecoin. Users who stake the AAVE token are also rewarded with an extra 30% discount on current GHO borrowing rates. Thus far, there are approximately 234 GHO holders, and since the mainnet inception, a total of 893 transactions have b... read More

Aave Stablecoin GHO Launches to Mainnet on Ethereum

    Over the weekend, the Aave DAO successfully launched the GHO stablecoin on the Ethereum mainnet. The dollar-pegged stablecoin was proposed in July 2022 as a way to allow users to mint GHO by supplying crypto collateral to Aave v3 in a similar system to MakerDAO’s DAI. The Aave DAO has successfully launched @GHOAave on the Ethereum Mainnet. Congrats to the Aave community on this historic moment! — Aave (@AaveAave) July 15, 2023 $2.2 Million GHO Minted The team said GHO was slightly different from other stablecoins because repaid interest on it is redirected to the Aave DAO treasury, adding: “This supports the sustainability of the protocol and the ongoing development of new features.” It added that AAVE token stakers would get a discount for minting GHO. According to the official website, 2.2 million have already been minted on Ethereum. However, at the time of writing, the stablecoin was trading just below its peg at $0.992, according to CoinGecko. Aave explained that minting GHO requires “Facilitators” that are approved and governed by Aave Governance. “Governance-approved facilitators will be able to mint up to a specified amount of GHO agreed upon by the DAO,” it added. Furthermore, the multi-collateral token can be minted with any collateral on the Aave v3 protocol. Aave’s native token of the same name was trading flat on the day at $77.51 but has gained 10% over the past week. GHO is enter... read More

Aave Token Holders Vote on Proposal Seeking Conversion of 1.6K ETH From ...

    A new Aave proposal took place to decide the fate of $3 million in the protocol's treasury. The holders of the Aave tokens will be voting on a governance proposal on whether 1,600 Ether, worth around $3 million, in the DeFi protocol treasury will be converted to wrapped staked ether (wstETH) and rocket pool ether (rETH). The proposal, created on July 3rd, has received 252,152 affirmative votes out of a required 320,000 at the time of publication. Aave token holders have until July 7th to vote. For the uninitiated, wrapped Staked Ether (WETH) and Rocket Pool Ether (rETH) are examples of staking derivatives that enable market participants to earn staking rewards. 'Aave DAO currently holds 1,786.51 awETH (v2) and 104.548 units of ETH in the Collector Contract. The awETH deposit yield in Aave v2 earns 1.69%, relative to 3.8% with wstETH and 3.13% with rETH. This AIP converts all the unproductive ETH balance, along with aWETH (v2 and v3) into the same amounts of wstETH and rETH.' Aave's native token, AAVE, has recovered significantly alongside the broader digital assets market over the past three weeks. It was up by more than 22% over the past week alone and was currently trading at $74.95. According to the latest data compiled by DefiLlama, Aave's TVL increased by nearly 60% from $3.74 billion in January to the press time value of $5.98 billion. While the recovery has been notable, Aave'a TVL was down by nearly 70% from its ATH of nearly $20 billion in October 2021. The post ... read More

COMP, MKR, AAVE Soar Triple Digits Weekly, BTC Loses $31K: Weekend Watch

    Bitcoin's endeavor above $31,000 seems to be short-lived, at least for now, as the asset has retraced to just under that level. Most alts are also slightly in the red on a daily scale, but the weekly charts are a whole different story for assets like COMP, MKR, AAVE, and others. BTC Below $31K Again Bitcoin went through a highly-volatile trading day last Friday when it plummeted from over $31,000 to a 10-day low of $29,500 in minutes. This came after a report suggesting that the US SEC deemed the recent spot Bitcoin ETF filings as 'inadequate,' which was regarded as a sign that the regulator could turn them down again. However, the bulls intercepted the move and didn't allow any further nosedive. BTC went back on the offensive and reclaimed the $30,000 line almost immediately. The weekend was calm, with the cryptocurrency remaining stuck at around $30,500. Monday didn't provide any fireworks, but bitcoin finally initiated a leg-up on Tuesday that drove it to $31,250 for the third time within a week or so. However, the asset failed to overcome decisively the $31,000 level and currently sits just below it. As such, its market cap has dipped below $600 billion, while its dominance over the alts stands still at 49.6%. BTCUSD. Source: TradingView COMP, MKR, AAVE on the Rise Weekly Most altcoins have mimicked BTC's 24-hour performance and have turned red. Ethereum and Binance Coin are down by just over 1% to under $1,950 and $245, respectively. Ripple, Cardano, Polkadot, Polygon, a... read More

AAVE Explodes 25% Daily, ETH Pushes Above $1.9K (Market Watch)

    The cryptocurrency market has managed to maintain positive momentum going into the weekend, with the majority of coins holding their gains through the diminished volatility and trading volume. Bitcoin Price Fighting for $31K Bitcoin's price pushed above $31K on Friday but was unable to maintain above that level. It subsequently retraced, but it appears that bulls are now preparing for another attempt. The price is up slightly over the past 24 hours and is trading slightly below $31K as seen in the chart below. Source_ TradingView It's also apparent that Bitcoin is consolidating through the past couple of days, following the major move toward $30K and $31K, respectively. This could suggest that there's another period of volatility coming. AAVE Explodes 25% Daily The majority of the altcoin market has remained relatively flat throughout the day, charting either slight gains or slight declines but nothing too serious, as seen in the heatmap below. Source: Quantify Crypto Of course, there are some exceptions. The most notable one is AAVE, which exploded by over 25% throughout the past 24 hours. This move also brings the cryptocurrency's total weekly gains above 40%, making it one of the best performers altogether. Synthetix Network (SNX) is also doing brilliantly. It's up by almost 20% during the day and 25% during the week. On the other end of the spectrum, Kaspa (KAS) is trading for a 5% loss, followed by Render (RNDR), which is down 4% for the day. It's also worth mentioning t... read More

Curve Founder Repays 1.3M USDT of Aave Loan to Reduce Liquidation Risk: ...

    A wallet linked to Michael Egorov, the founder of decentralized exchange (DEX) and automated market maker protocol Curve, has reduced its on-chain debt by repaying 1.35 million USDT of a loan on the decentralized lending platform, Aave. Egorov’s move comes as Curve’s native token (CRV), used as the loan’s collateral, significantly declined in the past week, reducing the loan’s health factor and increasing the liquidation risk. Egorov Returns 1.3M USDT to Aave Egorov started borrowing stablecoins on Aave in April. Data from blockchain analytics platform Debank shows that the Curve founder has deposited 288.7 million CRV tokens worth $173 million on Aave to borrow about 64 million USDT in an open position. The CRV tokens represent roughly 34% of the asset’s total supply. Analysis from blockchain sleuth Lookonchain revealed that Egorov sent $37.7 million worth of USDT to crypto exchange Bitfinex, while $51 million in USDC was sent to market-making protocol Wintermute Trading. Three days ago, the open position had a health rate of 1.68. However, at the time of writing, the health factor was at 1.58 due to the declining value of CRV, which has plummeted by more than 20% in the past seven days. Data from CoinMarketCap shows that the asset was trading at $0.60 as of press time. The collateral will be automatically liquidated if the health rate drops below 1.00. Egorov was forced to return some USDT tokens to curb the liquidation risk. Community Reacts T... read More

Aave Considers Freezing BUSD Following NYDFS Enforcement

    Members of the Aave community – a widely used decentralized lending protocol – are mulling a freeze on BUSD after a wave of regulatory pressure against its issuer, Paxos, on Monday. A newly tabled governance proposal would freeze Aave’s BUSD reserve on its Ethereum market beginning in April, only allowing users to burn BUSD tokens for their underlying value.  Abandoning BUSD The proposal in question was tabled by Marc Zeller – an Aave community member and founder of the Aavechan protocol delegate – on Monday. He argued that BUSD has “no real prospect of growth,” and that without the opportunity to mint new tokens, continuing to use it “might hurt peg arbitrage opportunity and asset peg.” “It seems that the most reasonable path for Aave is to freeze this reserve and invite users to switch to another stablecoin among the diversity present in Aave,” he suggested.  BUSD is a stablecoin issued by Paxos that is backed 1:1 by U.S. dollars. Stablecoins are blockchain-based tokens price-pegged to traditionally price-stable assets, such as fiat currencies, to circumvent the volatility typical of other cryptocurrencies. They have a critical presence in the decentralized finance ecosystem, acting as a backbone for lending and trading markets.  On Monday, Paxos announced that it would stop minting new units of BUSD starting February 23, following orders from the New York Department of Financial Services (NYDF... read More

Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source...

    Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK.Aave Invites Programmers to Test GHO Before Mainnet Deployment On Thursday, Aave Companies announced the launch of its native stablecoin GHO on the Ethereum Goerli testnet. The company also released the open-source codebase on Github. The developers of Aave are inviting programmers and prospective integrators to begin testing GHO as it prepares for deployment on the Ethereum mainnet. Three audits conducted by Open Zeppelin, Sigmaprime, and ABDK focused on the deployment of GHO. Upon its launch on the Ethereum mainnet, GHO will be similar to Makerdao's DAI token in that it will be overcollateralized and pegged to the U.S. dollar. Aave Version 3 (V3) does not permit flashloaning of the stablecoin. The community is being asked to consider adding a second facilitator, 'Flashminting,' at launch to address this issue. It’s GHO time! @GHOAave is now on Ethereum’s Goerli Testnet! — Aave (@AaveAave) February 9, 2023 Flashminting will enable Aave users to create GHO in a single transaction, similar to flashloans, but without borrowing from a pool. An audited codebase for the Flashminter Facilitator software is available, and the decision to include i... read More

Is AAVE Price Close To Breaking Consolidation?

    The AAVE price has recovered considerably since the beginning of the month. The coin was hovering around the $50 mark at the beginning of January and breached $90 very recently. It secured close to 70% appreciation. At the moment, AAVE is trading laterally on its chart. In the last 24 hours, the coin fell by 0.9%, thereby confirming consolidation. The coin started to lose steam as the altcoin failed to cross the $91 price mark. The technical outlook depicted that the coin was still on the bullish side. After a fall in accumulation over the last few days, the chart noted an uptick in demand at press time. This indicated that AAVE might be eyeing a break in its price consolidation. Over the last two weeks, the coin's price has fluctuated between $70 and $90, with the altcoin primarily trading above the $84 mark. The altcoin depicted that the buyers were starting to rise again, which might push demand up and help AAVE break its immediate resistance. At the moment, AAVE is trading 88% below its all-time high secured in 2021. AAVE Price Analysis: One-Day Chart Aave was trading at $82 at the time of writing. The journey from $52 to $85 was smooth, after which it took AAVE some time to cross the $90 price level. Over the past few weeks, AAVE has broken past essential resistance levels. Immediate resistance for the coin stood at $85; a move above that level may help the altcoin reach $90. On the flip side, support for the coin stood at $80 and $76, respectively. As demand rises, a ... read More

AAVE Seeks Proposal To Clear Itself Of Bad Debt – Can It Overcome ...

    The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back in November 2022.  However, the governance token of the platform, AAVE, has not responded either positively or negatively. According to data from CoinGecko, the token registered losses in the daily and weekly time frames. But these losses are too miniscule to revert the token’s gains from the start of the year.   With the launch of AAVE’s V3 on its mainnet, the crypto might be in a position to tally new highs if the situation permits it.  The Gist Of The Proposal & On-Chain Developments Based on the proposal, the token has over 2,677,749 units of CRV in debt on its Ethereum V2 CRV reserve. This is worth, at the date of the proposal, over $2.5 million. The proposal would use V2’s stablecoin reserve to buy the necessary number of units of CRV to pay the debt. This obviously was accepted by the community positively, being implemented immediately by January 25th. This would reverse the damage of the exploit attempt, proving the liquidity of the protocol.  The deployment of AAVE’s V3 on Ethereum was also implemented. According to DefiLlama, the crypto is in the top 4 among all platforms. AAVE V3, the Ethereum pool deployment, has ove... read More

Aave V3 Is Live On Ethereum, TVL Up 24% In One Month

    Aave V3 is now live on the Ethereum mainnet. With this upgrade, WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE are the only supported assets.  Aave V3 Improves Capital Efficiency Stani Kulechov, the co-founder of Aave, said V3's flexible design introduces new ways of mitigating risks, reducing gas costs, and improving capital efficiency, all while ensuring better liquidity decentralization. Aave Protocol V3 is now live on the Ethereum market ”The most exciting aspect of V3 is its flexible design, which enables a variety of new risk mitigation features, and its improved capital efficiency & decentralized liquidity – all while reducing gas costs.” @StaniKulechov — Aave (@AaveAave) January 27, 2023 This upgrade came after the Aave community delayed the upgrade. Then, Aave developers assessed that immediately improving V2 Pools to V3 would not have yielded the desired level of compatibility with other Aave V3 pools running on Avalanche, Polygon, and Ethereum layer-2 platforms. The current Aave V3 on Ethereum has been reworked. It is negligibly complex and more compatible with other Aave V3 pools outside of Ethereum. The transition to Ethereum, expanding Aave's presence in top blockchains, didn't immediately affect its total value locked (TVL). Data show that it is 2% lower in the past 24 hours. However, TVL is up 24% in the last month, rising to $4.56 billion as of the time of writing on January 27, according to data... read More

Aave Price Surges As V3 Cloud Upgrade Draws Near

    Amid the ongoing rally in DeFi TVL, we’ve seen positive news and innovation popping up from the ecosystem. As the Aave protocol V3 cloud upgrade draws near, its native token, Aave, has skyrocketed since the beginning of this year, reaching higher highs for the first time in the last few months.  Aave is an open-source liquidity protocol and its upcoming V3 cloud launch is just one of the protocols pending plans yet to be initiated. An Aave supporter with the Twitter handle @0x4Graham disclosed the upcoming upgrade launch.  According to crypto reporter Collins Wu, the V3 upgrade will introduce cross-chain asset functions, community contribution tools, and a gas optimization model on the Aave protocol. Aave Price Surges Nearly 37% In 7 Days As the v3 cloud upgrade draws near, Aave’s native token has spiked in price by 36.5% in the past 7 days, following suit with other crypto and DeFi tokens surging in the market. Besides that, the past few weeks have seen Aave printing a bullish trend, in which the chart indicates anticipation before a significant move.  Aave began the year with a ranging price of $50, and so far, the token has spiked to above $80 following the disclosure of the v3 cloud upgrade. Moreover, not only is the Aave token surging, but the protocol’s TVL has also done some significant rallies to the upside over the past weeks.  Currently, Aave protocol has a cumulative TVL of $4.5 billion, up by 21% in one month. The protocol h... read More

Aave Freezes Multiple Lending Markets Citing Volatility Concerns

    The decentralized lending protocol AAVE has temporarily disabled its lending markets for multiple Ethereum-based tokens facing excess volatility and low liquidity. The 17 frozen assets include various defi tokens that are competitors to AAVE, such as Compound (COMP) and Curve Finance (CRV). On Sunday, Aave passed a near-unanimous governance vote to disable the markets, with only two votes against, and over 500,000 in favor.  In total, Aave’s frozen market list included the following: YFI, CRV, ZRX, MANA, 1inch, BAT, sUSD, ENJ, GUSD, AMPL, RAI, USDP, LUSD, xSUSHI, DPI, renFIL, and MKR.  Among those, 5 are dollar-pegged stablecoins, including sUSD, Pax Dollar (USDP), Liquidity USD (LUSD), Gemini Dollar (GUSD) and RAI. The motion was proposed to mitigate risk “given that the market situation of these assets is currently volatile.” Earlier this month, Aave faced a $60 million short attack on its CRV pool using USDC as collateral.  The attacker happened to be Avraham Eisenberg, the same person who exploited Mango Markets for $117 million in October, and who defended his actions as ethical in an uncensored interview.  Eisenberg ultimately failed in this attempt and lost $10 million in the process. Nevertheless, the financial modeling platform Gauntlet called for freezing certain Aave markets in the aftermath as a precaution.  “The Aave ecosystem was built with a number of mechanisms that the Aave community can deploy to cover event... read More

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