Aave Is Proposing ENS And 1INCH Support On Aave V3 Ethereum

Key Points:

• A proposal presents Aave with the opportunity to onboard ENS and 1INCH to the Ethereum Aave V3 Market is under review.
• Also, on Arbitrum, the Aave community is holding a temperature check vote on the proposal to bring ARB to the V3 market.

The Aave community is conducting ARFC voting on the two proposals of adding 1INCH and ENS to the V3 market on Ethereum. If a consensus is reached and the proposals are refined, ARFC will be submitted for snapshot voting for final approval. Both ballots will close on May 20.

In addition, the Aave community is conducting a temperature check vote on the proposal of adding ARB to the V3 market on Arbitrum. If the vote is passed, it will enter the ARFC stage. Voting on the proposal will close on May 23.

Since the ENS and 1INCH in the migration plan have a low market cap and trading volume, Chaos Labs, the team driving the effort, has set borrow limitations to account for no more than 1% of the average daily trading activity.

The supply cap was calculated using the supply cap approach and V2 data. They have also updated the IR Slope1 to reflect changes in interest rates over the last few months, as well as the liquidation bonus levels to match current liquidity levels in DEXs.

Support for ARB in Arbitrum v3 pools increases TVL and user experience in the increasingly popular v3 Arbitrum market, as well as income prospects for Aave.

By allowing borrowing, it enables users and institutions to take a distinct stance on this Governance token as the network evolves and a decentralized community emerges. According to the proposal, it also more closely connects the Aave community with Arbitrum and, by extension, Ethereum.

At present, Aave has enabled anonymous voting in the Snapshot voting stage, and it is temporarily unable to check the voting support and opposition rates.

Aave already released its v3 on the Ethereum layer 2 ecosystem Metis Network after an overwhelming affirmative community vote over the weekend.

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

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Harold

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