• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
The Aave community approved the integration of the PYUSD stablecoin from PayPal

The Aave community approved the integration of the PYUSD stablecoin from PayPal

user avatar

by Max Nevskyi

2 years ago


The DeFi platform Aave's community has expressed support for the integration of the stablecoin PYUSD, issued by PayPal. This decision was backed by 99.99% of voting participants, ensuring the necessary quorum. The voting started on December 18 and concluded on January 11. The initiative emerged after the decentralized exchange Curve added PYUSD to its listing in December.

The proposal's author, Trident 15, explained that the integration fosters synergy between PYUSD and other assets, particularly with Aave's decentralized stablecoin GHO. It also implies maintaining high yields and creating demand for PYUSD loans on the AAVE platform. If approved, Trident 15 plans to contribute between 5 to 10 million dollars in liquidity to the pool.

PYUSD's market capitalization is 289.7 million dollars, marking a 71.9% growth over the last month. This asset ranks 12th in the stablecoin rankings, closing in on Paxos's USDP with a capitalization of 367.1 million dollars. Aave, in turn, is the third-largest DeFi project with a total value locked (TVL) of 6.26 billion dollars.

In November, the Aave Companies team, behind the development of the Aave DeFi platform, underwent a rebranding, changing its name to Avara. Earlier, Aave had suspended some operations due to a vulnerability discovery but assured that users' funds remained safe.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Understanding the Impact of Crypto Options Expiration

chest

Understanding the impact of crypto options expiration and its key metrics.

user avatarKaterina Papadopoulou

Sui Name Service Announces Retroactive Governance Airdrop

chest

Exciting news is buzzing across the Sui ecosystem as the Sui Name Service (SNS) has just announced a generous retroactive governance airdrop to reward early DAO participants with staked NS tokens.

user avatarMaya Lundqvist

Understanding the Crypto Fear and Greed Index

chest

The Crypto Fear and Greed Index measures market sentiment using various factors, including volatility and social media mentions. This index helps investors make informed decisions based on market psychology.

user avatarLeo van der Veen

Crypto Fear and Greed Index Drops to 29

chest

The Crypto Fear and Greed Index has fallen to 29, indicating a state of fear among investors in the cryptocurrency market.

user avatarLi Weicheng

Bitmain Withdraws 44,036 ETH Valued at $170 Million

chest

Bitmain has withdrawn 44,036 ETH valued at approximately $170 million from Kraken and BitGo, raising questions about its impact on the Ethereum market.

user avatarAisha Farooq

Ripple CTO Reveals the Truth About 100 Billion XRP Supply

chest

David Schwartz, the CTO of Ripple, explains the rationale behind the issuance of 100 billion XRP tokens, highlighting factors like divisibility for small transactions, technical compatibility, and user accessibility.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.