An initiative by @runekek and @stanikulechov, Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together.
As @StaniKulechov says, DeFi protocols have matured, showing resilience and market fit. By working together, DeFi can become the backbone of all finance, enabling unprecedented access and propelling new use cases.
We are no longer building on the sidelines; DeFi can empower all of finance.
We are proposing major upgrades and expansions, including the groundbreaking Aave V4, Aave Network, Cross-Chain Liquidity Layer, non-EVM L1 deployments and a fresh new visual identity, all leading the future of DeFi innovation.
The Aave DAO has successfully launched @GHOAave on the Ethereum Mainnet. Congrats to the Aave community on this historic moment!
GHO is the manifestation of the ethos of "Internet People" - those who believe in the transformative power of decentralization and the democratization of finance.
It's about building a future where everyone can participate with equal access. GHO paves the way for a more transparent, decentralized and efficient financial future.
In the Aave Fam we have a saying, “Leave no Ghost Behind” 👻 , we are applying this same approach when migrating our community from V2 🛫 V3 . We built this migration tool for @ethereum , @0xPolygon, and @avalancheavax
To migrate to V3 in a single transaction, all you need to do is head to the V2 dashboard
1. 👆Select the supply and borrow positions you would like to migrate 2. 🌅 Click ‘Preview tx and migrate’ 3. ✍️ Sign approval for each position* 4. ➡️ Submit migration transaction
1/6 We want to address the cycle of liquidations that occurred in the CRV pool on the Aave Protocol today. The liquidations were successful (and worked as designed), but unfortunately, the size of the position left some excess debt within the protocol.
2/6 A large CRV borrow that had been building up for the last week was mostly cleared by the protocol liquidation process. However, the position was not covered entirely & 2.64M CRV (≈ $1.6M at current value) remains. This represents < 0.1% of the borrows on the protocol.
3/6 The Aave ecosystem was built with a number of mechanisms that the Aave community can deploy to cover events like this, including the Safety Module, the Ecosystem Reserve & the DAO Treasury.