Aave Community Has Started A Vote On Introducing sfrxETH

The Aave community has begun a proposal vote for “introducing sfrxETH into the Aave V3 Ethereum market,” with a deadline of February 14 at 19:00. frxETH is a liquid pledge token offered by Frax Finance, a mixed-algorithm stablecoin system, for Ethereum pledges. Users can re-pledge frxETH to sfrxETH to get Ethereum pledge income. Users are not required to possess 32 ETH or to run node infrastructure.

Aave can provide customers with sfrxETH lending services because sfrxETH will earn pledge rewards in addition to the fundamental ETH value, it is a type of collateral that can be maintained for a long time, and the counterparty risk is relatively low. As a result, the community attempts to introduce sfrxETH as a strategic reserve asset into the V3 market, providing Aave with an extra source of revenue, fostering ecosystem variety and liquidity, and strengthening Ethereum’s decentralization.

On January 27, the project achieved the formal deployment of the Aave V3 version of its technology onto Ethereum’s mainnet. The V3 version would include several new features, including an eMode mode (which boosts the platform’s capital efficiency) and an isolation mode (which helps ensure the platform’s liquidity).

Stani Kulechov disclosed on his status line some intriguing features that will surround the platform items in the near future. These highlights included Liquid Staking, the stablecoin GHO, and PSM (details are known as “Peg Stability Module” by many).

Furthermore, right beneath the remark, this developer stated that the V3 version would soon be available on many additional ecosystems, including Layer-2 Metis.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source