• 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

Shiba Inu SHIB Creates Millionaires in 2021 Bull Run

chest

Shiba Inu SHIB generated several millionaires during the 2021 bull run, but its price has significantly decreased since then.

user avatarAyman Ben Youssef

Investing in Shiba Inu SHIB Today: Can It Still Create Millionaires?

chest

Investing in Shiba Inu SHIB today may still lead to millionaire status, but requires significantly larger investments than in the past.

user avatarSon Min-ho

Cumulative Value Days Destroyed Indicates Bitcoin's Market Bottom

chest

Market analyst Ali Martinez highlights that the Cumulative Value Days Destroyed (CVDD) metric suggests Bitcoin's price bottom is at 45,225.

user avatarTando Nkube

Russia Advances Digital Ruble Initiative to Boost BRICS Trade

chest

Russia is advancing the digital ruble initiative to enhance trade among BRICS nations and reduce reliance on the US dollar.

user avatarKofi Adjeman

X Takes Action Against Spam and Automation

chest

X's leadership is taking steps to combat spam and automation on the platform.

user avatarNguyen Van Long

X to Launch Smart Cashtags Feature for Direct Trading

chest

X's new Smart Cashtags feature will allow users to trade cryptocurrencies and stocks directly from their timeline.

user avatarSatoshi Nakamura

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.