Aave

Ethereum

Solana

Balancer

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  <p class="is-style-lead">AAVE, the native currency of Aave, a multi-chain decentralized money market, is firm, price action on July 12 reveals. The token is&nbsp;<a href="https://www.coinlore.com/coin/aave" target="_blank" rel="noopener noreferrer nofollow">up</a>&nbsp;56% from June 2023 lows and continues to extend gains, shaking off weakness after the notable price pump in late June 2023.&nbsp;</p> 
  <p>AAVE prices are solid because of improving trader sentiment in the crypto market and bullish steps taken by the Aave DAO, a decentralized autonomous organization (DAO) governing the multi-protocol Aave lending protocol. The rejection of lower lows by bitcoin (BTC) has been bullish for altcoins, including decentralized finance (DeFi) tokens like AAVE.</p> 
  <h2 class="wp-block-heading" id="deployment-of-gho-stablecoin-on-ethereum">Deployment of GHO stablecoin on Ethereum</h2> 
  <p>Beyond this, strategic steps, as mentioned above, have helped strengthen AAVE, providing the necessary tailwinds for bulls.&nbsp;</p> 
  <p>Presently, the Aave community is&nbsp;<a href="https://app.aave.com/governance/proposal/?proposalId=268" target="_blank" rel="noopener noreferrer nofollow">voting</a>&nbsp;on a proposal to approve the deployment of GHO on the Ethereum mainnet. Currently, over 99% of the community supports its implementations. </p> 
  <p> You might also like: <a href="https://crypto.news/solana-surpasses-ethereum-in-24h-nft-sales/" rel="noopener noreferrer nofollow"> Solana surpasses Ethereum in 24h NFT sales </a> </p> 
  <p>Once active, Aave v3 users can mint GHO using their ETH collateral. All interest fee payments will be sent to the AaveDAO as revenue.</p> 
  <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
   <div class="wp-block-embed__wrapper"> <iframe title="GHO by Steven Valeri | Devcon Bogotá" width="1020" height="574" src="https://www.youtube.com/embed/GfB77zT3b1A?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
   </div> 
  </figure> 
  <h2 class="wp-block-heading" id="buying-balancer-lp-tokens">Buying Balancer LP tokens</h2> 
  <p>In early June, Aave DAO greenlit a $2 million swap to acquire additional BAL-WETH liquidity provider (LP) tokens from Balancer, a decentralized exchange.</p> 
  <p>Although the swap will take weeks before being executed, the DAO will use CowSwap’s Milkman protocol’s rail to ensure the transaction goes through smoothly. Through CowSwap’s rails, AaveDAO will benefit from protection against miner extractable value (MEV) exploits while enjoying low slippages.&nbsp;</p> 
  <p>Considering the relatively low liquidity in DEXes, slippages tend to be higher, impacting the amount earned from the swap. At the same time, the public nature of transactions means bad actors can deploy MEV bots, rearranging transactions for their benefit.</p> 
  <p>Eventually, once the swap is completed, Aave DAO will receive assets and convert them to BAL-WETH pair that will also be converted to escrowed BAL tokens (veBAL).&nbsp;</p> 
  <p>AaveDAO is confident this could further increase Aave’s role in DeFi, thereby attracting more liquidity, especially in Aave’s pools in Balancer.&nbsp;</p> 
  <p> You might also like: <a href="https://crypto.news/algorands-defi-protocol-algofi-shuts-down-due-to-confluence-of-events/" rel="noopener noreferrer nofollow"> Algorand’s defi protocol Algofi shuts down due to ‘confluence of events’ </a> </p> 
  <p>As of July 12, Aave managed $5.9 billion of assets measured by total value locked (TVL), according to <a href="https://defillama.com/protocol/aave?revenue=false&amp;tvl=true&amp;events=false" target="_blank" rel="noopener noreferrer nofollow">DeFiLlama</a>. Slightly over $5 billion were ethereum (ETH) and Ethereum-based tokens. The rest were assets from blockchains compatible with the Ethereum Virtual Machine (EVM), including Harmony.&nbsp;</p> 
  <p>With more liquidity, Aave earns more revenue. In the past few months, AaveDAO’s&nbsp;<a href="https://defillama.com/protocol/aave?revenue=true" target="_blank" rel="noopener noreferrer nofollow">revenue</a>&nbsp;has been lower but rising, averaging below $30k daily.&nbsp;</p> 
  <p> Read more: <a href="https://crypto.news/aave-submits-proposal-to-launch-gho-stablecoin-on-ethereum/" rel="noopener noreferrer nofollow"> Aave submits proposal to launch GHO stablecoin on Ethereum </a> </p>
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AAVE is up 56% from June lows, DAO expects more revenue in H2 2023

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