Users will now be able borrow stablecoins like $USDC, $pyUSD, and $FRAX against their @ether_fi weETH liquid staking tokens.pic.twitter.com/s3Met9veuU — Aave Labs (@aave) September 9, 2024 Another development on-chain is the deployment of a dedicated Ether.fi market on Aave, introducing liquid restaking on the platform. According to the thread, the new addition is a glimpse at Aave v4 which has new features like dedicated liquidity instances and risk isolation. Related Reading: Vitalik Buterin Withdraws 760 ETH As Market Turmoil Strikes Ethereum Possible Correction To Occur Around ~$150 The token’s astonishing drive upward has been due to the market recovery from the early September slump.
With the upcoming release of the consumer price index (CPI) data today, an optimistic market awaits to jump on the bullish train. AAVE DAO Eyes New Asset To Deploy On-Chain Yesterday, September 10, Aave Chan Initiative (ACI) released a proposal to the AAVE community to include Coinbase’s cbBTC to Aave v3 on both the Base and the Ethereum Mainnet. According to the proposal, Coinbase’s entry into the wrapped Bitcoin market brings a "unique value proposition to the Aave ecosystem.” ACI also points out how users of Aave will benefit if the proposal passes.
In the case of Coinbase, which is a regulated entity in the United States, regulatory scrutiny will also affect cbBTC in the future and, by extension, the Aave network itself. As of writing, no further revisions have been made to the proposal. The Aave DAO just deployed a dedicated @ether_fi market on Aave.
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