Aave is now supported in @Circle Mint's Digital Asset-Backed Borrowing product.
Eligible Circle Mint LLC customers can use cirBTC as collateral to borrow @USDC from Aave on @Arc or Ethereum, directly within Circle Mint.
USDe supplied as collateral on Aave's @monad market now earns a 1% yield boost on top of the existing promotional reward rate from @ethena.
The first $250 million in USDe qualifies for the boost.
Today marks the beginning of a new chapter for Aave as we launch Aave V4 on the Ethereum mainnet. Aave V4 is a next-generation lending protocol designed to expand Aave’s lending capabilities and establish the foundation for lending market structure for all finance.
The attacker’s rsETH on Arbitrum has been burned. As the last step is to refill the rsETH bridge lockbox. Meanwhile withdrawals for rsETH into ETH will start within the next 24 hours to normalize the markets.
The past few weeks, including weekends, have been incredibly intense. None of this would have been possible without the entire team working around the clock on this recovery effort. We're building a new level of resiliency and a post mortem will follow with new learnings.
Update on Arbitrum DAO proposal:
On May 1, plaintiff-judgment creditors in an unrelated matter served a restraining notice on Arbitrum DAO targeting the ETH immobilized after the rsETH incident. A few days later, Aave LLC filed an emergency motion to vacate.
On May 8, the court modified the restraining notice to permit an onchain Arbitrum vote and transfer of the immobilized ETH to Aave LLC. The restraining notice attaches to Aave LLC upon transfer.
The amended Constitutional AIP preserves the recovery intent approved by Arbitrum DAO, and the ETH remains directed toward the rsETH recovery. Aave LLC will comply with all court obligations as proceedings continue.
https://t.co/uDMD6DO2sn
Aave service providers have published an Aave DAO governance proposal to contribute 25,000 ETH to the ongoing DeFi United effort.
Aave DAO's ETH contribution would go towards the plan to restore rsETH's backing to try and normalize market conditions as quickly as possible.
DeFi United.
https://t.co/h4LXUqedpP