• 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

US Bitcoin Miners Dominate Global Hashrate

chest

US-based Bitcoin miners control nearly 38% of the global hashrate, making them a critical component of the Bitcoin network.

user avatarArif Mukhtar

Winter Storm Could Disrupt Bitcoin Mining Operations in Southern US

chest

A winter storm is forecasted to bring ice and heavy snow to the southern US, potentially disrupting Bitcoin mining operations due to power grid strain.

user avatarDavid Robinson

Bitdeer Anticipates Minimal Impact from Winter Storm

chest

Singapore-based Bitcoin miner Bitdeer anticipates minimal disruption from the upcoming winter storm, stating that they have procedures in place to manage seasonal changes.

user avatarMaria Gutierrez

Japanese Yen Weakens Following BOJ Policy Decision

chest

The Japanese yen has weakened approximately 0.3% against the US dollar after the Bank of Japan decided to maintain its ultraloose monetary policy during its April meeting.

user avatarAndrew Smith

Rethinking Safe Haven Assets in Light of Tariff Politics

chest

The CoinRank AMA discusses how tariff politics are forcing a reevaluation of what constitutes a safe haven.

user avatarZainab Kamara

Danantara Indonesia to Invest $14 Billion in 2026

chest

Danantara Indonesia plans to invest up to $14 billion in 2026, focusing on energy and minerals to enhance domestic capabilities.

user avatarJacob Williams

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.