• 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

EMJ Capital Unveils AI-Driven Crypto Treasury Initiative EMJX

chest

EMJ Capital, led by Eric Jackson, introduces EMJX, an AI-driven initiative aimed at mitigating volatility in cryptocurrency portfolios.

user avatarEmily Carter

Eric Jackson Highlights Crypto Bear Market as Prime Investment Opportunity

chest

Eric Jackson, founder of EMJ Capital, emphasizes the current crypto bear market as a prime opportunity for investment, particularly in Bitcoin and Ethereum.

user avatarKaterina Papadopoulou

Bitcoin Market Cycle Signals Identified

chest

Alphractal's analysis reveals key signals for the end of bear markets and the beginning of bull markets in Bitcoin's history.

user avatarTomas Novak

Caution Amid Optimism: Potential Short-Term Correction for Bitcoin

chest

Despite a positive outlook for Bitcoin, analysts warn of a potential short-term correction around December 10.

user avatarMaya Lundqvist

Large US Banks Eager to Partner with MicroStrategy for Bitcoin Exposure

chest

Large US banks are eager to partner with MicroStrategy to gain exposure to Bitcoin, signaling a shift towards institutional adoption of digital assets.

user avatarLeo van der Veen

YZi Labs Accuses 10X Capital of Mismanagement

chest

YZi Labs has accused 10X Capital of mismanagement regarding BNC assets, leading to a drop in BNC stock and BNB price.

user avatarAisha Farooq

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.