Aave

Borrowing rates for USDC, one of the most liquid dollar-pegged stablecoin, remain high on Aave and Compound v2, two of the world’s top decentralized protocols. According to Kaiko, a blockchain analytics platform, rates have ranged from 4% to 15% on Aave and around 13% on Compound. It should be noted that this surge is when the crypto […]

Borrowing USDC Is Very Expensive On Aave And Compound, What’s Going On?

With Fidelity and BlackRock both recently filing for spot Bitcoin and Ethereum ETFs, more institutional options could soon emerge for crypto exposure.

Bitcoin (BTC) consolidation boosts Aave (AAVE) and Meme Moguls (MGLS) price

Galaxy Fox (GFOX), Injective (INJ), Aave (AAVE), and Quant (QNT), analysts note, are four coins that investors can explore before Christmas

Galaxy Fox, Injective, Aave, Quant: which will outperform the market this Christmas?

The post Frustrated With Bitcoins Rise? We Uncover Why GFOX, XRP, and AAVE are Better Alternatives appeared first on Coinpedia Fintech News
Ever caught yourself mulling over Bitcoin’s hype and thinking, “What is the best crypto to buy besides Bitcoin?” Well, you’re not alone in this. Bitcoin certainly grabs headlines, but let’s not forget about the other cool cryptos out there, each with its unique traits. In this article, we’re zooming in on three particularly interesting ones: …

Frustrated With Bitcoins Rise? We Uncover Why GFOX, XRP, and AAVE are Better Alternatives


                    
                    The decentralized exchange increased margin requirements on several markets on Nov. 18, after an alleged targeted attack on the YFI token triggered massive liquidations. 
                    Decentralized crypto exchange dYdX has disclosed new measures to mitigate trading-related risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses.According to an announcement on X (formerly Twitter), the exchange increased margin requirements on several “less liquid markets,” affecting tokens such as Eos (EOS), 0x Protocol (ZRX), Aave (AAVE), Algorand (ALGO), Internet Computer (ICP), Monero (XRM), Tezos (XTZ), Zcash (ZEC), SushiSwap (SUSHI), THORChain (RUNE), Synthetix (SNX), Enjin (ENJ), 1inch Network (1INCH), Celo (CELO), Yearn.finance (YFI), and Uma (UMA).dYdX triggered its insurance fund to cover users’ trading losses on Nov. 17 after a profitable trade targeting long positions on the YFI token caused the liquidation of positions worth nearly $38 million. dYdX founder Antonio Juliano dubbed the move a "targeted attack" on the exchange. According to him, YFI's open interest in dYdX spiked from $0.8 million to $67 million in a matter of days as a result of the actions of one individual. The same individual, according to Juliano, attempted to attack the SUSHI market on dYdX a few weeks earlier. "We did take action to increase initial margin ratios for $YFI prior to the price crash, but this was ultimately not sufficient. The actor was able to withdraw a good amount of $USDC from dYdX right before the price crash," he wrote. On X, the exchange’s team said that "highly profitable trading strategies have now been banned on dYdX,” in a reference to the language used by Mango Markets’ exploiter Avraham Eisenberg in his $116 million attack of 2022. dYdX is now offering a bounty payment in exchange for valuable information:dYdX will pay bounties to those most helpful in aiding the investigationWe will not pay bounties to, or negotiate with the attackerWe and others have made significant progress into identifying the attacker. We are in the process of reporting the information we have to the FBI— Antonio | dYdX (@AntonioMJuliano) November 19, 2023

The YFI token declined by 43% in just a few hours on Nov. 17 after soaring over 170% in November. The sharp decline wiped out over $300 million in market capitalization from the recent gains, according to data from CoinMarketCap. In the past 30 days, however, the token has still gained over 90%, trading at $9,190 at the time of writing.The Yearn.finance team hasn’t disclosed any official details about the incident. A source familiar with the matter told Cointelegraph that developers on the team do not control the majority of the token supply, strongly refuting initial concerns about a potential scam. The claim is supported by Etherscan data showing large centralized exchanges as YFI top holders.Magazine: Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis

dYdX raises margin requirements in some markets, bans “highly profitable trades”

This is not the first name change the project has been through, but it will be the last.

Aave Ecosystem Rebranding to Avara

The blockchain technology enterprise Aave Companies, recently rebranded as Avara, is still navigating challenges in stabilizing its stablecoin GHO, which is currently struggling to sustain its desired $1 peg. The project’s Liquidity Committee is actively working on strategies to strengthen the stablecoin, aiming to elevate its value above $0.985 by November 30, 2023. GHO’s Liquidity […]

The Quest to Stabilize GHO — Navigating Challenges to Reach $1 Peg Amidst Aave’s Corporate Rebrand

Avara, formerly known as Aave Companies, underwent a transformation in its identity and vision, solidifying its position as a key player in the blockchain and web3 space. With a new name and a strategic acquisition, Avara aims to lead the construction of an open and decentralized internet. The rebranding of Aave Companies to Avara is ... Read more

Aave Transforms Into Avara, Aiming to Lead the Web3

Source: Avara Aave has announced its rebranding to Avara and the acquisition of Los Feliz Engineering, a Los Angeles-based web3 startup. Avara is the home to some of the most innovative web3 brands: @aave, @lensprotocol, @ghoaave, @sonar, and now @family all building towards a people powered internet that benefits all. — Avara^ (@avara) November 16, […]
The post Aave Rebrands to Avara, Announces Latest Acquisition in Web3 appeared first on Cryptonews.

Aave Rebrands to Avara, Announces Latest Acquisition in Web3

Leading Decentralized Finance (DeFi) lending protocol Aave has officially rebranded to Avara as it makes a concerted effort to expand its user base across the Web3.0 ecosystem.  Avara Targets Broader Web3 Userbase Avara is a Finnish word that has a couple of meanings including “extensive,” “open,” “spacious” and “inclusive.” It also has a colloquial use 
The post Breaking: DeFi Lender Aave Rebrands to Avara appeared first on CoinGape.

Breaking: DeFi Lender Aave Rebrands to Avara

Founder Stani Kulechov said the name change does not affect Aave as a lending protocol and that its latest acquisition focuses on propelling mass web3 adoption.

Aave parent company rebrands to Avara, adds crypto wallet family to offerings


                    
                    Liquidity protocol Aave’s parent company has been rebranded to Avara as it looks to streamline its suite of infrastructure products to attract a broader Web3 user base.
                    Decentralized finance (DeFi) group Aave Companies has been rebranded to Avara as it looks to broaden its user base across the Web3 ecosystem.Stani Kulechov, founder and CEO of Avara (formerly Aave Companies), tells Cointelegraph that the company’s growing number of offerings, including liquidity protocol Aave, the GHO stablecoin, Lens Protocol and Sonar, necessitated an umbrella brand with broader Web3 appeal. “We will continue to innovate in DeFi and build tools for developers while creating new, intuitive and compelling products that attract mainstream people”Kulechov adds that the broader industry has focused on building infrastructure to enable the development of products that appeal to a wide user base. The rebrand marks the beginning “of a new era” where blockchain technology becomes more “accessible, usable and fun.”The Avara founder adds that the company’s new identity is inspired by the Finnish word “Avara,” which carries a number of definitions, including “extensive,” “open,” “spacious” and “inclusive.” Its colloquial use means “seeing more than you see.”Related: Shared Web3 user base could power new social app integrations — Aave CEOKulechov also notes that liquidity protocol Aave will continue under the same brand name through Aave Labs and continue its focus on contributing to technological innovations within the DeFi landscape.The rebrand announcement coincides with the acquisition of Los Feliz Engineering (LFE) and its flagship self-custodial Ethereum wallet, Family Wallet. The strategic deal means that Avara’s product suite now encompasses a consumer wallet allowing users to send, receive, swap and hold cryptocurrencies.The acquisition also includes ConnectKit, a developer library built by Family Wallet to facilitate connectivity between the wallet service and decentralized applications. LFE’s team, including its CEO and founder Benji Taylor, will join Avara. Taylor takes up the role of senior vice president of product and design. Avara hopes to tap into LFE’s experience building the messaging application Honk to continue the development of Lens Protocol. As Cointelegraph reported, the latter aims to be a social layer for the wider Web3 ecosystem, connecting users across a decentralized social networking environment and providing developer tools to build applications and communities.Magazine: Slumdog billionaire: Incredible rags-to-riches tale of Polygon’s Sandeep Nailwal

Aave Companies rebrands to Avara, acquires Ethereum self-custody ‘Family Wallet’


                    
                    Data from L2Beat shows that layer 2s are seeing greater adoption than ever before as users continue to desire lower gas fees.
                    Ethereum Layer 2 networks reached a new milestone on November 10, reaching $13 billion of total value locked (TVL) within their contracts, according to data from blockchain analytics platform L2Beat. According to industry experts, this trend of greater interest in layer 2s is likely to continue, although some challenges remain, especially in the realms of user experience and security.Ethereum layer 2 TVL. Source: L2Beat.According to L2Beat, there are 32 different networks that qualify as Ethereum layer 2s, including Arbitrum One, Optimism, Base, Polygon zkEVM, Metis, and others. Prior to June 15, all of these networks combined had less than $10 billion of cryptocurrency locked within their contracts, and their combined TVL had been declining since April’s high of $11.8 billion.But beginning on June 15, layer 2 TVL growth turned positive. And by October 31, these networks had reached a new high of nearly $12 billion combined TVL. From there, investment in layer 2 apps continued to climb, passing the $13 billion TVL mark on November 10 and continuing to nearly $13.5 billion at the time of publication.This rise in TVL is even more dramatic when compared with the rate that existed during the bull market of 2021, when overall crypto investment was much larger than it is today. On November 12, 2021 when the market cap of all cryptocurrencies reached an all-time high of $2.82 trillion, layer 2s had less than $6 billion locked within their contracts. Today, the total market cap of cryptocurrencies is a more modest $1.4 trillion, according to Coinmarketcap, yet the TVL of layer 2s is greater than ever.In a conversation with Cointelegraph, Metis CEO Elena Sinelnikova proposed a theory for why layer 2s are growing in spite of the continuing bear market. According to her, Ethereum’s high gas fees during the bull market left an indelible impact on users, leading to a desire for alternatives when demand started to come back, as she stated: “At the time of [the] bull market, Ethereum at peak times was very non-scaleable, which meant that transactions were slow and very expensive because of the bull market. It would be hundreds of dollars just in transaction fees for one transaction, so therefore it was not sustainable.”According to Sinelkova, another reason that layer 2 networks have thrived in the bear market is because of the successful marketing efforts of their development teams, which has led to high user activity and therefore, high yields. “They are deploying capital to attract new users and to attract new business into DeFI [decentralized finance],” she stated. “DeFi people from all ecosystems, they always go where there are big yields [...] and this is just naturally happening and is [...] the nature of business.”Related: Aave v3 launches on Ethereum layer-2 network MetisHowever, Sinelkova warned that layer 2s still face challenges in the realm of user-experience. Optimistic rollup networks require users to wait 7 days for a withdrawal to be processed, which can lead to frustration. On the other hand, newer zero-knowledge (ZK) proof networks can process withdrawals instantly, but they are still in an early stage of development and tend to crash more often than older networks. The Metis CEO claimed that her team is working on a “hybrid” layer 2 network that will combine the best of both worlds, giving users the option to withdraw using either an instant ZK prover or a 7-day optimistic process.Kelsey McGuire, chief growth officer for layer 1 network Shardeum, told Cointelegraph that layer 2s face another serious challenge that is often overlooked: centralization. “While Layer-2 solutions have gained popularity for their scalability enhancements over the last year, they often introduce a trade-off in decentralization” she stated. She continued:“At the execution layer, where transactions are processed, centralized sequencer nodes are employed, raising concerns about potential censorship or government interference. This centralized aspect in Layer-2 implementations challenges the core principles of decentralization and trustlessness that have underpinned the blockchain space."McGuire expects competition from layer 2s to spur improvements to layer 1s, ultimately leading to higher throughput for the foundational layers themselves, as she stated “there may be fewer and fewer new L1s, and we’ll start to see a refocus on true scalability (as in high TPS paired with low gas fees) at the foundational layer as opposed to relying solely on L2s to provide scalability."In addition to their TVL increasing, the number of layer 2s also continues to rise. On November 14, crypto exchange OKX announced that it is building a layer 2, and there have been rumors that Kraken is building one as well.

Layer 2 networks hit $13 billion TVL but challenges still remain

Ethereum’s blue-chip DeFi tokens are garnering significant attention in the crypto market, serving as a barometer for the broader DeFi landscape. These tokens, including Uniswap (UNI), Aave (AAVE), Maker (MKR), Curve (CRV), Synthetix (SNX), Compound (COMP), Balancer (BAL), Sushiswap (SUSHI), represent the most established and widely used DeFi protocols. As key players in the DeFi […]
The post Ethereum’s blue chip DeFi tokens poised for growth appeared first on CryptoSlate.

Ethereum’s blue chip DeFi tokens poised for growth

Aave, the decentralized lending protocol, has successfully resumed its operations after facing security vulnerabilities earlier this month.

Aave Lending Markets Pick Up Operations After Security Concerns

Aave V3 markets are unpaused, resolution reached after temporary measures. Aave V2 Ethereum to be unpaused tomorrow.

Aave V3 Markets Resume Operations Following Security Vulnerabilities

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.  Related Reading: Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect 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 at around 2023 highs and remains within a bullish formation as optimistic traders expect the uptrend to continue. Despite the uptrend, bulls have failed to break above the $110 resistance level. As it is, this reaction level marks August 2022 highs and has not been breached in the past 15 months.  The token has more than doubled at spot rates, rising from $50, a critical support level marking January and June 2023 lows. For trend continuation, there must be a solid breakout above $110 and the $60 range from where prices have been moving horizontally in a multi-month accumulation. Related Reading: Polygon (MATIC) Price Fueled By Increase In Whale Activity Still, it is unclear how the token will react in the days ahead and whether there will be more upside momentum as liquidity increases as activity resumes on Aave v2 markets.  According to DeFiLlama data, Aave is one of the largest DeFi protocols, with over $6 billion in total value locked (TVL). Most of these assets are locked in Ethereum, where over $5.1 billion of tokens are under management. Feature image from Canva, chart from TradingView

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

Aave both V2 and V3 markets are back to normal. Aave DAO acted quickly by temporarily disabling a feature to prevent any problems. Decentralized lending protocol Aave has successfully recovered […]
The post Aave Resumes Standard Functions After Security Vulnerability appeared first on BitcoinWorld.

Aave Resumes Standard Functions After Security Vulnerability

Users and traders can no longer create new GHO stablecoins by minting, but they still can be purchased on secondary markets, says the top Aave contributor.  Marc Zeller, founder of the Aavechan initiative, said demand for GHO has driven the…

Aave’s stablecoin GHO hits minting limit

Vertex Protocol has generated considerable excitement in DeFi by bringing to market the first vertically integrated decentralized exchange (DEX) to compete with incumbent centralized exchanges (CEXs). While DEXs tend to be singular in the use cases they address – for instance, Uniswap is for spot markets, Aave is for borrowing and lending, and dYdX is … Continued
The post A Pioneering Step in DeFi: Introducing Vertex Protocol’s Token Launch appeared first on BeInCrypto.

A Pioneering Step in DeFi: Introducing Vertex Protocol’s Token Launch

Aave said its V2 and V3 markets are operational after a temporary pause earlier in the month due to security concerns. The lending protocol reopened operations on its V2 protocol earlier today, Nov. 13, saying: “All Aave V2 markets are now operational. Security of the Aave Protocol is a non-negotiable priority for the community. We […]
The post Aave securely unpauses V2 and V3 markets after addressing critical bug appeared first on CryptoSlate.