DeFi

Aave V3 Retroactive Funding Proposal Has Been Approved

Aave Protocol tweeted that the idea to provide retroactive financing of $16.28M to Aave company members as compensation for the creation of Aave V3 has been approved.

Aave V3 Retroactive Funding Proposal Has Been Approved 4

The decentralized autonomous organization (DAO) that powers the decentralized finance (DeFi) network Aave has agreed to grant a retroactive payment of $16.28 million to Aave Companies members in appreciation of their contributions to the creation of Aave V3.

Some crypto-whales took notice of the release of this change, which had an impact on the crypto-community. In fact, according to a tweet by WhaleStats, AAVE is once again among the top 10 tokens purchased in the last 24 hours by the 100 largest BSC whales.

AAVE has, interestingly, not only attracted attention among the whale community; it has also been creating waves on social media. The altcoin’s social mentions have increased by 12.5% over the past week, which is encouraging for AAVE.

AAVE daily chart. Source: CoinCu

However, starting last week, AAVE has struggled to do well in other parts of social media, particularly the social dominance aspect. The social dominance of AAVE has been quite low since its peak on September 6, and there hasn’t been much buzz about the token in recent days.

Source: Santiment

Even while AAVE has a lot going for it, its future still appears hazy. As a result, it is suggested that readers conduct a study before entering this trade.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.