• 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

Challenges in the Clean Cooking Sector: Affordability and Policy

chest

Challenges in the clean cooking sector in Nigeria focus on affordability and inconsistent fiscal policies, impacting the competitiveness of clean cookstoves compared to traditional fuels.

user avatarKaterina Papadopoulou

Nigeria's Clean Cooking Transition Gains Momentum

chest

A media roundtable in Lagos highlighted the need for comprehensive strategies to achieve Nigeria's 2030 clean cooking target.

user avatarMaya Lundqvist

BURN Manufacturing Leverages Carbon Credits for Affordable Clean Cookstoves

chest

BURN Manufacturing Nigeria uses carbon credits to subsidize the cost of clean cookstoves for low-income households.

user avatarTomas Novak

XAUT Trading Volumes Surge as Gold Prices Hit New Records

chest

XAUT trading volumes have surged to a one-month high as gold prices set new records, indicating a shift in investor interest towards gold-backed tokens.

user avatarLeo van der Veen

Market Dynamics and Whale Movements in Crypto

chest

Large-scale holders, or whales, significantly influence market sentiment and liquidity.

user avatarDiego Alvarez

Nigeria Police Arrest Six for Hacking Telecom and Diverting N77 Billion

chest

Nigeria Police Force arrested six suspects for hacking a telecom company, diverting over N77 billion in airtime and mobile data.

user avatarLi Weicheng

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.