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A whole lot of well-known updates took build on Aave this week. Amongst these updates is the upcoming addition of Terra USD (UST), the algorithmic stablecoin of the Terra (LUNA) ecosystem on Aave.
This news follows the no longer too lengthy prior to now performed governance voting to add Terra USD (UST) on Aave. This article covers little print of well-known Aave updates that took build final week. And what these updates, especially the addition of the UST stablecoin, might well perhaps preserve for the Aave ecosystem.
Unique Aave News
👻ENS listed on V2
🗳Vote to add UST live now
👀Proposal to add CVX @llamacommunity_
🌱LFGrow Hackathon by @LensProtocol & @ETHGlobal
🧠Updates @SymphonyFinance @dapplooker @aavegotchi @Paladin_vote & extra
👇Other ecosystem insightshttps://t.co/dnw3C3Y6Ls
— Aave Grants DAO (@AaveGrants) March 8, 2022
Well-known Updates On Aave
In its weekly newsletter, Aave launched little print of its updates that took build final week. First, the decentralized lending protocol ended the week with a excellent $18.2 billion price of liquidity.
Other well-known updates include:
- Its $101 million flash mortgage quantity whereas furthermore producing $91,000 price of charges for depositors on its protocol.
- Aave furthermore recorded a 33.2% utilization rate. Alongside an estimated $3.6 million in ardour for depositors.
- Final week alone, Aave furthermore had $23 million in liquidated funds with an estimated $1.8 million as charges to liquidators.
- Also, a whopping $5.9 million used to be generated by the protocol this week alone. Alongside an additional $1.1 million $StkAAVE and $2.2 million $WAVAX.
- Apparently, $444,000 for the ecosystem collectors, who now preserve $44 million.
- One other major update is the voting for the addition of Terra USD (UST) to the Aave ecosystem.
UST Proposal, Governance Vote casting on Aave
Aave boasts of a the truth is decentralized ecosystem. One that is totally controlled by neighborhood contributors and token holders through a effectively-designed governance job. The proposal to add enhance for UST used to be first submitted in April 2021 and used to be reopened in January 2022.
Also, the proposal contains adding UST as a borrowable asset pending other possibility assessments. A total and additional thorough possibility evaluate will resolve whether UST will probably be listed as collateral on Aave. The voting officially ended on March 10, 2022, with a obvious vote to checklist Terra USD (UST) on Aave.
More on Terra USD (UST)
Terra USD (UST) has been in the limelight in fresh times for the whole proper causes. Launched on October 1, 2021, UST has grown frequently and currently has a market cap of $14,608,837,265. UST is furthermore an algorithmic stablecoin.
Terra is the protocol in the inspire of Terra USD (UST). According to DeFi Llama, Terra currently has a TVL of $25.02 billion. It furthermore boasts top initiatives treasure Anchor, Lido, Mars Protocol, and loads others. Apparently, early this month, LUNA surpassed Ethereum to turn out to be the 2d most staked asset.
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