Aave Suspends ETH Loans As Ethereum Merge Approaches
Ahead of the anticipated Ethereum merge slated between September 13 and 15, players like Aave are stocking up ETH. Some are even borrowing to increase their Ether balance. The DeFi platforms and others worry that user Ether borrowing may increase and leave the protocol prone to liquidity issues. They also worry that the increased borrowing […]
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Aave has halted ETH lending until the Merge has gone through, while Compound Finance has opted to cap the number of loans and introduce a “jump” interest rate model. The growing number of speculators taking out Ether (ETH) loans to maximize their potential to earn forked Ether Proof-of-Work tokens (ETHPoW) has been causing headaches for decentralized finance protocols. The issue has been gaining traction over the past month or so, given that a significant number of Ether miners are expected to continue working on a forked PoW chain, or possibly even multiple chains post the long awaited....
The outcome will give a good indication of where AAVE token holders stand ahead of the upcoming ETH hard fork. Aave token holders have been asked to take part in an Aave Request for Comment (ARC) that would require them to "commit" to Ethereum’s proof-of-stake (PoS) consensus.The ARC, proposed on Aug. 16, comes in light of Ethereum's upcoming transition to proof-of-stake. It calls for members to select the Ethereum Mainnet running under PoS consensus as the new “canonical” governance system, while also giving power to an authority to shut down any Aave deployments on any alternative....
The Ethereum Merge is scheduled to go live in less than a day, which would move the network completely from a proof of work mechanism to a proof of stake mechanism. This essentially puts Ethereum miners out of business, meaning they have to find somewhere else to move their mining machines to. Like always, Ethereum […]
As Ethereum (ETH) experiences increasing volatility and mixed market sentiment, many of its largest investors are looking for new ways to maximize their portfolios. Ethereum (ETH) whales, who hold significant amounts of Ethereum, have been diversifying their holdings, shifting their attention to promising altcoins like Mpeppe (MPEPE), Quant (QNT), and Aave (AAVE). These tokens have […]
Ethereum was formerly developed as a PoW blockchain. However, it’s been planning to transition to PoS through an upgrade tagged the merge. The process, which has different phases, is almost getting to completion as the date for the merge draws closer. The target is September 15 and would finally merge the Ethereum mainnet and the […]