Aave

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The trading freeze follows an analysis from DeFi's risk manager firm Gauntlet Network considering different scenarios for the USD Coin price. 

cointelegraph.com

Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs 

The plan intends to allow developers to recover tokens from certain AAVE contracts and send them to owners who transferred them by mistake.

AAVE DAO votes for 'rescue plan' to save lost tokens

Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK.
Aave Invites Programmers to Test GHO Before Mainnet Deployment
On Thursday, Aave Companies announced the launch of its native stablecoin GHO on the Ethereum Goerli testnet. The company also released the open-source codebase on Github. The developers of Aave are inviting programmers and prospective integrators to begin testing GHO as it prepares for deployment on the Ethereum mainnet.
Three audits conducted by Open Zeppelin, Sigmaprime, and ABDK focused on the deployment of GHO. Upon its launch on the Ethereum mainnet, GHO will be similar to Makerdao’s DAI token in that it will be overcollateralized and pegged to the U.S. dollar. Aave Version 3 (V3) does not permit flashloaning of the stablecoin. The community is being asked to consider adding a second facilitator, “Flashminting,” at launch to address this issue.

It’s GHO time! @GHOAave is now on Ethereum’s Goerli Testnet!
 https://t.co/cM58b6qSBa pic.twitter.com/xueGERoqnw
— Aave (@AaveAave) February 9, 2023

Flashminting will enable Aave users to create GHO in a single transaction, similar to flashloans, but without borrowing from a pool. An audited codebase for the Flashminter Facilitator software is available, and the decision to include it will be put to a vote among the Aave community through the Aave Decentralized Autonomous Organization (DAO). The Aave DAO will manage the control of the GHO facilitator. The team says that before the official GHO mainnet launch, there will be additional testing and research.

Changes are required to STKAAVE to enable the implementation of GHO’s discount rate, and a snapshot needs to occur for the Ethereum V3 Facilitator and Flashminter Facilitator. “A snapshot will then occur to greenlight these as the first two facilitators for GHO,” according to Aave. The company has also introduced a bug bounty and is asking key contributors to the DAO to start discussing the framework for onboarding new facilitators.
What are your thoughts on Aave’s latest move with the launch of GHO on the Ethereum Goerli testnet? Let us know what you think about this subject in the comments section below.


Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK. Aave Invites Programmers t...

news.bitcoin.com

Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits

Stani Kulechov said that one of the challenges in the ecosystem is that there's less backing in decentralized stablecoins compared to centralized ones. 

Stablecoin adoption could lead to DeFi growth, says Aave founder

The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back in November 2022. 
However, the governance token of the platform, AAVE, has not responded either positively or negatively. According to data from CoinGecko, the token registered losses in the daily and weekly time frames. But these losses are too miniscule to revert the token’s gains from the start of the year. 
 With the launch of AAVE’s V3 on its mainnet, the crypto might be in a position to tally new highs if the situation permits it. 

The Gist Of The Proposal & On-Chain Developments
Based on the proposal, the token has over 2,677,749 units of CRV in debt on its Ethereum V2 CRV reserve. This is worth, at the date of the proposal, over $2.5 million. The proposal would use V2’s stablecoin reserve to buy the necessary number of units of CRV to pay the debt.
This obviously was accepted by the community positively, being implemented immediately by January 25th. This would reverse the damage of the exploit attempt, proving the liquidity of the protocol. 
The deployment of AAVE’s V3 on Ethereum was also implemented. According to DefiLlama, the crypto is in the top 4 among all platforms. AAVE V3, the Ethereum pool deployment, has over $526.52 million total value locked. 

At $86.02, What’s In Store For AAVE? 
The token is currently consolidating around the $85.8 support range. This could be a sign that the token still has room to regain lost ground from 2022’s bear market. However, this can only be achieved if the token closes with a green candle to continue AAVE’s rally when the year started. 
Investors and traders should target the token’s current resistance at $90.15. If the bulls can consolidate at the token’s present support, we can see an upward push towards $94.70. 




Investors should also monitor the token’s correlation with Bitcoin and Ethereum as these would have a big influence on its price movement in the short to medium term. 
As these major cryptocurrencies retest their crucial resistances, a breakthrough by either one or both of these coins would boost AAVE’s momentum to regain lost ground. 
With this in mind, investors and traders should exercise caution in the short to medium term as the token can still be clawed by the bears to revert back to $78.65.
Featured image by Kanalcoin.com


The lending platform AAVE has been enjoying positive news lately. According to reports, AAVE has passed a governance proposal that would eradicate all bad debt it accumulated when Avraham Eisenberg, orchestrator of the Mango Markets exploit, targeted the platform’s Ethereum V2 liquidity pool back...

Aave price	$69.85
Low - High 24H	$68.88 - $73.63
Market cap	$1.00B
Volume 24H	$65.00M
All time high	$661.69 -89.44% May 18th 2021
All time low	$26.02 168.39% November 5th 2020
Genesis date	N/A

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