Aave DAO Begins Voting On Proposals To Limit CRV Exposure

The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol's exposure to Curve Finance's CRV token. Two out of the three proposals in question opened for voting on the 10th of August.

Timeline of Aave, Curve-dao-token

The injection of $5 million from Binance Labs transcends a simple financial transaction; it represents a collaborative effort focused on strengthening Curve's security infrastructure and aiding the protocol in recovering its stability.

Curve Finance's stETH pool dwindles as liquidity drains, raising queries about Ethereum's staking dynamics. Amidst outflows, the platform navigates challenges while ETH flow remains steady.

The Aave community is currently taking active measures to mitigate its protocol's exposure to the Curve DAO token (CRV), with two distinct proposals up for voting as of August 10th.

Binance Labs, the investment and incubation subsidiary of Binance (CRYPTO: BNB), has announced a $5 million investment in Curve DAO Token (CRYPTO: CRV), the utility token that powers the Curve ecosystem. Curve has a total value locked (TVL) of approximately $2.4 billion and a daily trading volume of $215 million.

The proposals, which aim to disable CRV borrowing and decrease Aave's exposure to Curve's native token on its Ethereum V2 markets, are responses to the liquidation pressure faced by Curved founder Michael Egorov.

Curve DAO token (CRV) will deploy on BNB Chain as part of the deal with Binance Labs, the company's incubation and venture capital arm. The $5 million investment follows brief concerns about the DeFi stableswap exchange after exploiters drained over $70 million from CRV and ETH pools.

In a tumultuous week for the Ethereum blockchain, a remarkable spike in illicit flows emerged, coinciding with a major exploit involving Curve Finance, a prominent decentralized finance (DeFi) protocol. This incident marked Ethereum's most significant period of illicit activity for the year.

Here's a funny statistic: According to Rekt's global exploit loss leaderboard, even before a coalition of whitehats and security experts managed to claw back the majority of stolen funds, the Curve hack just barely cracked the top 30 all-time.

Curve, a leading decentralized exchange on Ethereum, was hacked for $70 million in July. Questions continue to linger around the platform's long-term viability and potential contagion risk.

Decentralized Finance (DeFi) stablecoin lending platform Curve Finance has shown evidence it is no longer deterred by the Vyper attacks it suffered a few weeks back. According to an update shared through its official X account, Curve Finance is now canvassing for community votes for its next venture, the stableswap pool.