Aave

Ethereum

Prisma Finance

Chaos

DeFi

Skywards, a prominent entity within the DeFi ecosystem, has put forth a proposal to integrate the staked version of Ethena’s synthetic dollar, sUSDe, into Aave V3 on <a href="https://coingape.com/ethereum-non-zero-addresses-hit-ath-will-eth-price-follow/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>. This proposal follows a consensus reached during the TEMP CHECK stage, signaling potential enhancements to the Aave protocol.
<h2 id="skywards-seeks-to-add-susde-to-aave-v3-on-ethereum">Skywards Seeks To Add sUSDe To Aave V3 On Ethereum</h2>
sUSDe offers a stable crypto-native solution with lucrative yield-earning opportunities, making it an attractive asset for borrowers within the Aave ecosystem. The <a rel="noopener noreferrer nofollow" href="https://governance.aave.com/t/arfc-onboard-susde-to-aave-v3-on-ethereum/17191" target="_blank">proposed</a> contract address for sUSDe is 0x9d… with plans to implement an oracle through CAPO to ensure reliable price feeds.
Risk parameters for the integration will be provided by Chaos Labs, underscoring Aave’s commitment to robust risk management practices. Notably, Skywards is driving this proposal, emphasizing community-driven decision-making and transparency in governance processes.
The proposal marks a significant step forward in expanding Aave’s offerings and attracting a diverse range of users seeking stable and yield-generating assets within the <a href="https://coingape.com/top-defi-protocols/" target="_blank" rel="noopener noreferrer nofollow">DeFi</a> landscape. As the proposal advances, community and service provider feedback will play a crucial role in shaping the final decision.
If the response remains positive, the proposal will progress to the ARFC snapshot stage, followed by an AIP vote for final confirmation and enforcement. If the proposal passes the governance process of Aave V3 on Ethereum, potentially reshaping the DeFi landscape.
Also Read:&nbsp;<a href="https://coingape.com/ethereum-co-founder-unveils-protocol-simplification-strategy-the-purge/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Co-Founder Unveils Protocol Simplification Strategy “The Purge”</a>
<h2 id="proposal-for-adding-renzo-protocol-s-ezeth-to-aave-v3">Proposal For Adding Renzo Protocol’s ezETH to Aave V3</h2>
Earlier, <a href="https://coingape.com/sponsored/blockdags-2m-giveaway-leads-inqubeta-aave-price-forecast/" target="_blank" rel="noopener noreferrer nofollow">Aave</a> revealed that a temporary check on community sentiment is underway to gauge interest in adding support for Renzo Protocol’s Liquid Restaking Token (LRT) ezETH on Aave V3 Ethereum. The proposal aims to introduce a new asset class to Aave and enhance the diversity of the lending and staking category.
Liquid Restaking tokens (LRTs) have gained significant popularity recently due to their productivity as staking assets. These tokens are highly correlated with Ethereum and are commonly used as collateral to borrow ETH for yield leveraged staking strategies, particularly with the introduction of eMode.
The integration of ezETH into Aave is expected to increase demand for ezETH, resulting in boosted revenues for both Aave and Renzo Protocol. Moreover, it’s anticipated to enhance liquidity and peg stability for ezETH. The proposal highlights relevant key performance indicators (KPIs) for Renzo Protocol, including Total Value Locked ($1.9 billion), Total supply (526K+ Renzo Restaked ETH), and 24-hour trading volume ($80.2 million).
If consensus is reached during this temporary check, the proposal will escalate to subsequent stages, including Snapshot and ARFC, before final confirmation through an AIP vote. For further details and documentation, interested parties can refer to Renzo Protocol’s resources, including their website, documentation, GitHub repository, audits, and Chainlink Data Feed.
Also Read:&nbsp;<a href="https://coingape.com/hacker-calls-for-live-apology-from-prisma-finance-post-11m-heist/" target="_blank" rel="noopener noreferrer nofollow">Hacker Calls for Live Apology from Prisma Finance Post $11M Heist</a>
The post <a href="https://coingape.com/skywards-proposes-to-add-ethena-susde-to-aave-v3-on-ethereum/" rel="noopener noreferrer nofollow">Skywards Proposes To Add Ethena’s sUSDe To Aave V3 On Ethereum</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Skywards Proposes To Add Ethena’s sUSDe To Aave V3 On Ethereum

Table of Contents

Coingape News Media

Other articles published on Apr 1, 2024

Grayscale Solana Trust Hits Record Premium Amid Bull Run

2024’s Crypto Dark Horses: 5 Altcoins for Outsized Gains

Bitcoin wallet UniSat warns of fake Apple iOS app

AI in Journalism: Advancements, Limitations, and Apprehensions

UNKJD (MBS) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Bitcoin Price Consolidates Above $70K, Can Bulls Pump BTC To $75K?

Join our free newsletter for daily crypto updates!