
Aave bounties, a scavenger hunt, and more are coming to Flipside Crypto. But before we’re visited by this friendly ghost, it’s time to check in on the latest news for the decentralized lending protocol.
Last time we talked Aave, we took a closer look at the basics of the protocol and its quickly increasing TVL. So what’s the latest for the protocol? It includes expansion to new protocols and offerings, as well as an all-time high in price.
Let’s take a closer look.
Aave explores expansion
We’ll start with a look at the recent talk of expansion for Aave onto Layer-2 networks, as well as Solana.
JUST IN: Ethereum staple @AaveAave looks set to launch on several new networks, including @solana (via @neonlabsorg) and @avalancheavax. https://t.co/RzooLiGEUu
— Crypto Briefing (@Crypto_Briefing) August 5, 2021
According to reports, Aave founder and CEO Stani Kulechov confirmed recently that the company was investigating a multichain strategy. That strategy would not only include Layer-2 protocols such as Avalanche, Arbitrum, and Optimism, but also Solana.
The reports were met with a generally positive response, especially from Solana and its devotees.
Huge news from @AaveAave this morning!
— Solana (@solana) August 5, 2021
A warm community welcome seems in order #SolanaSummer 🌴☀️🥥 https://t.co/7kFUqvVFYh
ETH Twitter on the way?
Layer-2 expansion isn’t the only new offering in the works for Aave.
According to reports, Kulechov is also said to be “on a mission” to develop an alternative to Twitter using the Ethereum blockchain. Known as “ETHlend,” the idea first gained attention in 2017 as a non-custodial, decentralized lending protocol.
Since @jack is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum
— stani.eth 👻 🐻❄️🦇🔊 (@StaniKulechov) July 17, 2021
Now, Kulechov says, the idea has shifted. In this new offering, users would be able to earn money by interacting on a social media site that would follow in the vein of microblogging site Twitter.
An ATH for AAVE
Perhaps most exciting for those in the ecosystem was the increase in demand that took place earlier this month, leading to an all-time high price for AAVE, the platform’s native token.
As CoinTelegraph noted, traders seemed to take word of AAVE’s in Bitwise Investment’s new investment vehicle as auspicious news. As a result, AAVE’s price surged by nearly 10% to reach $333.84 on August 6 and continued its upside momentum into the following days.
#AAVE reached a new all-time high at $288 as the total value locked and 24-hour volume surged to record levels https://t.co/cTsFyG1O1h
— Cointelegraph Markets (@CointelegraphMT) January 25, 2021
TVL, or total value locked, was already at high levels in the months leading up to this spike, as we profiled earlier this year. In recent weeks, however, TVL also surged to record levels.
Learn more
Aave data, bounties, and a scavenger hunt are coming to Flipside Crypto!
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Or, if you’d like to learn more about Aave, check out the visit the Aave website to learn more, read their FAQ, and access their desktop app. You can also follow Aave on Medium or Twitter.