Base unleashes noncustodial liquidity markets with Aave v3 fork

In an audacious move, Base, the layer-2 network, is stepping into the future by launching non-custodial liquidity markets. This launch signifies a pivotal turn in decentralized finance, bringing with it a blend of innovation and automation.

Timeline of Aave

Several cryptocurrency industry members have joined forces to launch a new advocacy group, according to a press release on Sept. 7. The new group, called the Tokenized Asset Coalition, aims to have real-world assets represented and circulating on blockchain networks.

A significant uptick in whale activity has been observed, particularly influencing the performance of several altcoins. What Happened: A recent analysis by Santiment suggested these large-scale investors are actively participating in networks with transfers exceeding $10 million, leading to increased volatility.

The "smartestmoney.eth" address, operating under Ember's watchful eye, has orchestrated a series of strategic ETH to stETH transactions that have set the crypto community abuzz.

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.

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.

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.

PeckShield blockchain security firm shared a warning concerning potential vulnerabilities within the Aave Protocol's Earning Farm. The company shared distressing information paired with a transaction screenshot, suggesting that the Earn Farm on Aave might be under the threat of an exploit known as a "reentrancy hack.

CRV, the governance token of Curve, a decentralized exchange for stablecoins and a key player in the decentralized finance (DeFi) landscape, has impressively recovered, adding 22% after sinking to its August 2023 lows this week. When writing on August 3, CRV is trading at $0.59, rising double digits after dropping to $0.48 on August 1 following a damaging hack that saw liquidity providers in several pools lose funds.

By acquiring 5 million CRV tokens at the current price, this proposal seeks to send a powerful signal of solidarity within the DeFi space. Additionally, it would strategically position the Aave DAO in the ongoing “Curve wars,” while also bolstering the liquidity of Aave's decentralized multi-collateral stablecoin, GHO.

The Aave Chan Initiative, introduced within the Aave governance forum, suggested acquiring $2 million worth of curve tokens (CRV) from Michael Egorov, the founder of Curve. Spearheaded by Marc Zeller, the creator of Pandemic's blockchain consultancy firm and a key player in Aave Companies, the initiative is a delegate platform that operates closely with Aave.