Today news
About the same in other media
DeFi protocol Aave encounters major capital flight
Reading now: 454
Annual percentage yields, or APY, on crypto borrowing and lending platform Aave have surged to record levels after capital withdrawals sent the decentralized finance, or DeFi, protocol into a liquidity crunch. At the time of writing, variable APY on borrowing stablecoin Dai via Aave has surged to 24.88%, compared to approximately 6.50% the day prior.
According to cryptocurrency researcher Igor Igamberdiev, blockchain personality Justin Sun was responsible for at least billions of dollars in withdrawals in the past few hours. Aave's total value locked, or TVL, fell to $14.7 billion from $17.89 billion the day prior, based on data from DeFi Pulse.
In a series of tweets, Aave developers revealed that financial modeling platform Gauntlet Network
Read more on cointelegraph.comAbout this in other media
Cyber Protocol Is Redefining Search Engines With Web 3.0 cryptonews.com /3 years ago
Liquid staking protocol pSTAKE raises $10M from notable cryptocurrency venture capital firms and angel investors cointelegraph.com /3 years ago
Synthetic asset protocol for Polygon raises $1.5M from major investors cointelegraph.com /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
