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Aave DAO Deploys the Ether.fi Market on Aave

Twitter icon  •  Published 1 week ago  •  Hassan Maishera

On Monday, Aave Labs announced via X that Aave DAO deployed a dedicated Ether.fi market on Aave.

On Monday, Aave Labs announced via X that Aave DAO deployed a dedicated Ether.fi market on Aave. Thanks to this deployment, users can now borrow stablecoins like $USDC, $pyUSD, and $FRAX against their Ether.fi weETH liquid staking tokens.

This is the second dedicated instance, following Lido's last month and Ethena's, which is currently in a final comment period in Aave DAO governance.

Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $13.34 per token, up 8.5% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.