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Decentralized finance ( DeFi ) has its fair share of ‘forks,’ but rarely do they top the total value locked (TVL) charts. Linea , the zero-knowledge rollup ‘bootstrapped’ by Consensys, claims to be ‘home to the most innovative web3 projects.’ But its largest project, ZeroLend , is a seemingly low-effort fork of Aave, the widely-established lending protocol . As noted by X (formerly Twitter) user @majinsayan, ZeroLend’s mobile site until very recently even redirected to Aave’s own FAQ section. The biggest protocol on linea (consensys) is a copy-paste aave-fork that forgot to change hotlinks of documentation which still links to aave docs ethereum people should shut the fuck up for 30 days and look at the bullshit they're peddling to the world go keep a clean house pic.twitter.com/MibgMXppuo — MAJIN (@majinsayan) July 6, 2024 At $235 million TVL, ZeroLend accounts for over a third of the blockchain’s entire $667 million TVL, according to data from ...

Aave Community Passes Proposal To Prevent Additional CRV Borrowing Proposal 286 “Gauntlet Recommendation for CRV LTV -> 0 on Aave v2 Ethereum” was passed unanimously by the community. The proposal received 100% “Yes” votes to block additional borrowing against CRV . advertisement Gauntlet has been looking into the risk profile of Curve Finance founder Michael Egorov. The account borrows roughly $54 million of USDT against $158 million of CRV . However, Egorov is quickly paying off his $80 million debt through OTC sales of CRV tokens. Currently, a loan of roughly $29 million of USDT against $116 million of CRV on Aave is pending, as per DeBank data. “We recommend setting CRV LTV to 0 to help impede additional borrowing against existing CRV collateral due to the recent decrease in CRV liquidity.” Curve Finance pools suffered a $61 million hack last week. While the hacker has started to return funds, the DeFi platform ...

The proposal drew mixed reactions from the community where some criticized the strategy for buying more CRV even as others are looking to shed exposure. Amid growing uncertainty around Curve exposure for many decentralized finance protocols, Aave Chan founder Marc Zeller has proposed that Aave Treasury buy $2 million worth of CRV tokens in USDT from Curve Founder Michael Egorov. The proposal noted that the $2 million worth of Curve DAO Tokens (CRV) acquisition would send a strong signal of DeFi supporting DeFi while allowing the Aave DAO to strategically position itself in the Curve wars and help Aave’s decentralized multi-collateral stablecoin GHO’s liquidity. At the current price, $2 million worth of USDT would net 5 million CRV tokens and Zeller suggested these newly bought curve tokens could be locked as veCRV for four years. These tokens could then be used for voting rights on the Curve platform where Curve users would be able to use it to provide liquidity for token pairs that...

After the collapse of Terra, the digital assets sector needed a way to identify critical nodes in the global DeFi community. Kanis Saengchote, a researcher at Chulalongkorn University in Thailand, recently developed a framework for identify ing and measuring systemic risk in decentralized finance (DeFi) institutions.  The new protocol is called the Global Systematically Important Protocol (G-SIP), and it’s based on a similar endeavor instituted in the traditional banking industry. After the global banking crisis of 2008, the traditional finance sector collaborated to come up with a protocol for identifying critical banking structures in order to implement strategies for the prevention of future collapses. Related: UBS Group agrees to $3.25B ‘emergency rescue’ of Credit Suisse What they came up with is a system to identify and measure “global systemically important banks ” (G-SIBs). This allowed the Bank for International Settlements to identify weaknesses and establish standard...

Bitcoin’s narrow range trading may end soon and if an upside breakout happens. Meanwhile, LTC, XMR, AAVE and MKR are showing strength. Bitcoin (BTC) has been trading in a narrow range for the past few days but that doesn’t take away the sheen from its stunning 84% rally in 2023. The strong recovery in Bitcoin’s price has boosted buying in several altcoins, which have risen sharply from their yearly lows. As the second half of the year begins, the major question on every investor’s mind is, will the rally continue? CoinGlass data shows that July has seen only three negative monthly closes since 2013 and the biggest decline was 9.69% in 2014. This suggests that bulls have a slight edge. Crypto market data daily view. Source: Coin360 A large part of the latest leg of the rally in Bitcoin and altcoins was fuelled by hopes that the United States Securities and Exchange Commission will approve one or more applications for a spot Bitcoin exchange-traded fund. Any adverse news on this front ...