New proposals to end ‘ghost protocol’

Aave attracts the crypto community’s attention following its latest exploits. Dubble the ‘Ghost Protocol,’ the blockchain has actively addressed community proposals lately as the Merge nears.

Meanwhile, the AAVE community hasn’t decided on pausing ETH borrowing until the highly awaited Merge. The voting for the momentary pause Ethereum borrowing proposal began on August 30 and will end on September 2.

The proposal is about mitigating high utilization hazards because of the Ethereum PoW hardfork. The risk within the Ethereum market emerges from users possibly benefiting from ETH-PoW by borrowing $ETH before the Merge. While publishing this post, 48.9% of AAVE investors approved the proposal, whereas 49.8% declined. 

It will be fascinating to witness happenings in the coming few days upon the proposal’s outcome. Moreover, the project has an underway proposal regarding the AAVE v3 Retroactive Funding. The proposal has listed some new features.

Isolation Mode and High-Efficiency Mode nodes improved Aave’s capital efficiency. Aave DAO would pay $15M and $1.28M to Aave businesses, according to the proposal. V3 development would finish.

protocol Statistics

Aave’s DeFi value was $6.1 billion when this story was published (DeFiLlama). $4.57 billion was in Ethereum. Avalanche has $780 million. It was significantly behind April 2022’s $14.35 billion high.

PriceAAVE

Isolation Mode and High-Efficiency Mode nodes improved Aave’s capital efficiency. Aave DAO would pay $15M and $1.28M to Aave businesses, according to the proposal. V3 development would finish.

AAVE dropped 1.67% in the last day to $86.13 in this publication. The alternative token remained pessimistic despite the crypto market’s August 31 resurgence.

Aave’s 24-hour trading volume increased 18.31%, per Coinmarketcap. The current recommendations will help Aave prepare for the Merge. So, the project can forget ‘Ghosting Protocol’

Bears ride crypto’s wave. In the last 24 hours, most assets fell. Bitcoin lingered at $20K while writing this blog. The worldwide cryptocurrency market capitalisation dropped 1.27 percent to $981.34 billion.

Stay updated.

 

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