• Aave would implement a strategy to back GHO’s secondary liquidity. 
• The volume on the Aave protocol dropped but development activity increased.

The Aave [AAVE] community has approved a proposal to position its Decentralized Autonomous Organization (DAO) as a major influence on the DeFi ecosystem while improving GHO’s liquidity.

The protocol had put forward the proposal, named the “aCRV OTC Deal” earlier in the month.

Realistic or not, here’s CRV’s market cap in AAVE terms

And according to the voting results 370,359 community members voted in favor of the proposal. On the other hand, 270.308, representing 42.19% of the voting populace thumbed print against it.

Time to “GHO” overboard

Details from the proposal showed that the leading DeFi platform plans to take a strategic step by acquiring Curve Finance [CRV] tokens using Tether [USDT] from its treasury.

And all these would be done in a bid to support the liquidity of GHO, its native decentralized stablecoin. In achieving this, Aave explained that, 

“A 2M USDT worth of CRV acquisition would send a strong signal of DeFi supporting DeFi, while allowing the Aave DAO to strategically position itself in the Curve wars, benefiting GHO secondary liquidity.”

Recall that the recent Curve Go to Source to See Full Article
Author: Victor Olanrewaju

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