• 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

New Escrow Service on XRP Ledger Announced

chest

XRPL validator Vet has announced a new escrow service that could soon launch on the XRP Ledger, enhancing benefits for token holders as Ripple continues to expand its network.

user avatarMaria Fernandez

XRP Treasury Firm Reports 8X Growth in Tokenized Treasuries

chest

Ripple-backed firm Evernorth reports an 8x growth in tokenized US Treasuries on the XRP Ledger, increasing from $50 million to $418 million in one year.

user avatarGustavo Mendoza

Ripple Expands Operations with New Headquarters in Dubai

chest

Ripple has opened a new regional headquarters in Dubai's International Financial Centre to enhance its operations in the Middle East and Africa.

user avatarKenji Takahashi

Crypto Analyst Predicts Local Bitcoin Top

chest

Analyst Kaz warns that Bitcoin is nearing a local top and may drop below $60,000.

user avatarRajesh Kumar

Political Uncertainty Surrounds South Korea's Crypto Tax Legislation

chest

Political uncertainty surrounds South Korea's crypto tax legislation as the People Power Party pushes to abolish it.

user avatarMiguel Rodriguez

South Korea's NTS Prepares for Crypto Tax Implementation

chest

The National Tax Service of South Korea has begun preparations to implement a tax on crypto income starting in 2027, following years of delays.

user avatarLuis Flores

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.