It should come as no surprise that Aave has been attracting a lot of attention in recent months, with the launch of their mainnet.
Since its start in January, the sector-rising lending project has amassed a market capitalization of about $40 million. It offers a diverse range of features, including DeFi lending, steady borrowing, and Flash Loans, to mention a few.
On Twitter, DeFi Pulse (@defipulse) reports that the @AaveAave cryptocurrency is flirting with its all-time high total value locked of $30.87M. You can look more on their website (https://defipulse.com/aave).
Aave today announced the addition of new capabilities to its already great stack, as well as the beginning of its first round of ecosystem funding.
On Twitter, the company’s account (@AaveAave) announced that they are officially starting Round 1 of Aave Ecosystem Grants to encourage brilliant devs, entrepreneurs, and teams in #BUIDLing your beautiful ideas.
Aave recently added support for more web3 wallets, such as WalletConnect and Ledger. With a new homepage that shows total lending pool sizes and how much each person can borrow and lend, Aave is constantly improving the usability of the growing lending protocol.
Finally, Aave added reserve overviews to help users understand how each asset on the protocol changes over time. This simple dashboard shows essential information about over-collateralization ratios, liquidation penalties, utilization ratios, and more. As a result, it’s never been easier to make better decisions regarding lending or borrowing money on Aave.
Grants for Ecosystems
Others have utilized their funds to help foster fresh ideas within their networks. Aave announced yesterday that they would start awarding funding to those who want to work on the protocol’s stack.
The grant size will range from 500 to 5000 aDai, depending on the proposal.
The magnitude of the award isn’t as essential as the message it delivers. We hope Aave grantees can form significant ties with Aave’s many developers and industry specialists. iT is not true at all. We think these microgrants can go further than giving a project $100,000.
What to Expect
In the following year, we expect Aave to keep making a lot of noise in the DeFi world. A strong sense of community development can be seen in this project. And they’re not done yet. They’ve raised funds to help their community develop the next generation of financial primitives.
You can expect to hear about any projects that come out of this grant program. We’re excited to show you what they are!
Make sure to follow Aave on Twitter to stay up to date on everything they do.
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