On Tuesday, the price of the alternative cryptocurrency Aave approached its three-week high. Aided by the prospects of its foray into the general market by launching an institutional lending platform.
Dubbed Aave Pro, the platform hopes to become an “authorized liquidity protocol” offering fintech institutions, companies and clients access to decentralized financing (DeFi). That said, it would follow strict rules when recruiting participants. Making sure your Ethereum addresses are on a secure list after a thorough Know your Customer process.
Aave Pro would launch with liquidity pools of Bitcoin (BTC), Ether (ETH), USD Coin (USDC) and its own token, Aave.
The price of Aave responded positively to its institutional adoption. As soon as the rumor became public on Sunday, the AAVE/USD pair began to tend upwards, to the point of surpassing USD 344 for the first time since June 14. At its second quarter low, the pair changed hands by about $ 165, a rise of 108%. Currently, the price hovers between $ 325, growing by 9.78% in the last 24 hours.
European Central Bank Vice President says crypto assets are not a threat to financial stability
For the vice president of the European Central Bank (ECB), Luis de Guindos, cryptoassets pose no risk to financial stability at the moment. This was demonstrated during a course in San Lorenzo de El Escorial, in Madrid, called ‘Spain, Europe and Freedom’.
According to an article in Bolsamanía that echoed the aforementioned course, Luis de Guindo said: “They do not pose a risk to financial stability at this time.” And, he recalled that the volatility of Bitcoin in recent times has not impacted with turbulence in the markets.
However, de Guindo also said that he would not recommend investing in this type of cryptoassets, considering that they are not serious investment alternatives according to his point of view.
Uniswap v3 launch of DeFi was launched
As one of the most anticipated deployments in the decentralized finance (DeFi) sector, Uniswap v3 was launched on 5 May. The upgrade aimed at greater capital efficiency and better flexibility for liquidity providers.
The Uniswap v3 concept includes features such as concentrated liquidity, which enables liquidity providers (LPS). Allocate your capital in certain price ranges instead of distributing liquidity across the price curve. As well as multi-tier fee systems that help lps adjust to varying degrees of risk.
The release of Uniswap v3 sparked discussions in the crypto community: while some people expected the new version of the largest decentralized exchange (DEX) to be a game changer in the DeFi sector. Others expressed scepticism as to whether the policy of “greater capital efficiency” would serve a wider user base. Or if it would only attract the richest market makers.
BarnBridge introduces an application that automatically rebalances ERC-20 tokens held in a user’s portfolio
The BarnBridge decentralized financial protocol has introduced an application that allows users to automate position management between Ethereum-based assets.
On July 5, BarnBridge announced its second application, called “SMART Exposure”. The app allows users to passively maintain a certain weighting between the assets of a specific ERC-20 token pair through automatic rebalancing.
The app has been released on the Ethereum mainnet with support for Wrapped Ethereum (WETH), Wrapped Bitcoin (WBTC), and USD Coin (USDC) in pairs weighted in 75/25 or 50/50 proportions. It will also be deployed on the Polygon network in the coming weeks.