• 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

Sui Defends Key Macro Support Levels Amid Market Uncertainty

chest

Sui is attempting to maintain its support levels while facing significant overhead resistance in the crypto market.

user avatarSon Min-ho

Chainlink's Smart Collateral Technology Chosen for DTCC Trial

chest

Chainlink's smart collateral technology has been selected for a trial by DTCC, focusing on collateral management and financial infrastructure.

user avatarAyman Ben Youssef

Significant Bitcoin Withdrawal from Binance Raises Market Attention

chest

A newly created Bitcoin wallet has withdrawn 1,350 BTC from Binance, signaling important market activity.

user avatarTando Nkube

Machi Big Brother Takes Action to Protect ETH Investments

chest

Machi Big Brother has been liquidating BAYC-related assets to defend its leveraged ETH exposure in a fragile market environment.

user avatarKofi Adjeman

Ripple Secures Preliminary CASP License Approval in Luxembourg

chest

Ripple has secured preliminary approval for a CASP license from Luxembourg's CSSF, marking a significant step in its operations.

user avatarNguyen Van Long

Ripple and SBI Holdings Launch RLUSD Stablecoin in Japan

chest

Ripple has partnered with SBI VC Trade to launch the RLUSD stablecoin in Japan after receiving approval from the Japan Financial Services Agency.

user avatarJesper Sørensen

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.