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Following the unfortunate events where the SEC proscribed BUSD as a security by the SEC, the Aave protocol [AAVE] looked to abandon its connection with the stablecoin. Members of the community, led by Marc Zeller, swiftly responded to the ongoing FUD with a proposal to freeze the BUSD reserves on Aave's Ethereum [ETH] market.
Aave may distance itself from BUSD before redemptions for the token possibly shut down next year.
The Aave community is currently considering a proposal to freeze the BUSD reserve on the Aave V2 market in light of Paxos' move to stop minting BUSD.
The past three months' price action of AAVE coin price showed a simple formation of the cup and handle pattern. However, amid the recent sell-off, the AAVE price lost a crucial support of $80, indicating the bullish pattern got invalidated.
Aave community member Marc Zeller proposed halting the BUSD lending market on Ethereum.Zeller argued that the Paxos-issued stablecoin was bound to decline in supply and inability to mint new tokens would affect peg arbitrage opportunities.The proposal was submitted shortly after U.S. regulators ordered Paxos to halt minting new BUSD coins and teased a lawsuit against the regulated crypto trust company. An Aave governance proposal from community member Marc Zeller suggested freezing BUSD reserves on the Ethereum blockchain.
Members of the Aave community are examining whether to freeze BUSD on the platform and the stablecoin's issuer, Paxos, was sued by the SEC today.
Justin Sun, the former CEO of Tron, has made a significant transfer of $33 million USDC to Aave Lending Pool v2. The transfer was noticed by blockchain security firm PeckShield, which revealed that the origin of the assets was the Poloniex exchange, where Sun received USDC two years ago.
GHO stablecoin was just realeased on the Ethereum Goerli testnet. Here's what you need to know about the Aave stablecoin GHO.
Decentralized lending project Aave has launched its stablecoin GHO on Ethereum's [ETH] testnet according to an official tweet on 9 February. The project had been working on the stablecoin since last year after it got a go-ahead from its community.
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, a web3 protocol company, has announced a new dollar-based stablecoin “GHO” (pronounced Go), on Ethereum's Goerli Testnet.
The token can be borrowed from facilitators — which for now consists of just the Aave protocol governance team
Crypto Twitter was awash, last week, with speculation about a teaser campaign launched by a slew of the top decentralized finance protocols. One by one, the projects tweeted an emoji of two fists bumping and a hint that something was dropping on February 6.
Aave recently launched its v3 on the Ethereum network and the results were quite positive in the short term.
DeFi lender Aave's planned stablecoin project GHO is now live for testing on Goerli, an Ethereum testnet environment.
Aave's GHO is set to join a fierce competition as rival DeFi protocols also issue or are moving to release their own protocol-native stablecoins.
Aave's foray into stablecoins inches closer as the DeFi giant launched its dollar-pegged GHO token on Ethereum's Goerli testnet today.
MakerDAO, the DeFi organization that facilitates the generation of the DAI stablecoin, is releasing Spark Protocol – a lending platform that will rival Aave.
DeFi stablecoin platform MakerDAO has proposed Spark Protocol. The new system is based on the Aave lending protocol's smart contracts.
Lido Finance's [LDO] tweet on 6 February highlighted the impressive growth of MakerDAO [MKR] and Aave's [AAVE] lending pools on its protocol. Over the last week, MakerDAO's steCRV experienced a surge of 636%, while Aave's Wrapped stETH [wstETH] increased by 140%.
Chainlink's Proof of Reserve (PoR) feature is now available on Aave lending platform on the Avalanche blockchain.
The Aave community has favorably voted on a proposal to permit Lido DAO to distribute token rewards across liquidity pools on three networks.
Along with a host of new updates, Aave's latest upgrade is also letting ETH stakers double their bets ahead of Ethereum's Shanghai update.
In a fireside chat (titled “DeFi: Resilience in the Face of Global Uncertainty”) with Alex Cohen at the two-day event StarkWare Sessions held during ETHTLV 2023 week in Tel Aviv, Israel, Aave Founder and CEO Stani Kulechov shared his thoughts on the DeFi space and its potential for wider adoption.
