A BTC Whale is back, Consensys collects IP addresses, & Web3 Infrastructure 💻🚨
Protocol of the week: Aave
Welcome to the 36th edition of DeFi Fridays!
Access all the previous editions here.
101 today:
Protocol of the week: AAVE
Major happenings in the ecosystem.
In this week's good reads:
The Architect of Web3 Infrastructure for Beginners.
Improving Web3 Experience and Structure by Polygon.
Protocol of The Week
What is Aave?
Aave is a decentralized non-custodial liquidity market protocol. It allows users to lend and borrow tokens in the crypto market. It also lets users stake the Aave token.
Users can put up their tokens for lending and supply liquidity to the market in exchange for interest, or borrow from the market either upon interest or by putting up their supplied tokens as collateral. They are operational on many chains, like Ethereum, Arbitrum, Avalanche, Polygon etc.
How are they doing it? 👻
Aave lets its users deploy their funds into liquidity pools governed by smart contracts.
Aave V1 (now obsolete) was used only to provide and obtain liquidity anonymously, and to earn yield.
Aave V2, (still partially active) brought users the features of credit delegation and the choice to earn stable or variable interest, along with gas fee improvements.
Aave V3 features:
Portal: that lets one transfer tokens across all chains on v3 without any gas fees.
High-Efficiency mode: This mode lets users borrow funds in the same category at maximum collateral factor percentages.
Isolation mode: This mode protects users and the markets from risks that newly listed assets pose.
To learn how to lend and borrow on Aave, you can refer to this blog here.
Metrics to Track:
Get a sense of the community:
Aave’s Founder Stani Kulechov talks about their GHO Stablecoin & other products. He also talks about experimentation (43:50) and competition (39:24) in the DeFi space.
A High-level Developer’sGuide to Aave Protocol.
Learn more about Aave with Aave:
Want to discuss more? Ask our team.
Major News in the Ecosystem:
🔰ConsenSys Under Fire for Collecting MetaMask Users’ Wallet and IP Addresses.
What’s Happening?
Consensys recently updated their Privacy Policy. It states that Metamask will collect users’ IP address & Ethereum Wallet address when a transaction is sent.
Social Media Discussions on the topic:
🔰Discussion on CBDCs:
🔷In other news,
🔰A BTC Whale comes back to life. 10000 BTC worth $167M transferred out.
🔰Directors of "Avengers" to Produce FTX Miniseries for Amazon.
🔰Stablecoins Show Signs of Stabilizing After FTX Storm.
🔷More Good Reads:
✍️ The Architect of Web3 Infrastructure for Beginners.
✍️ Improving Web3 Experience and Structure by Polygon.
On Brew Money🦉🚀
Our mission at Brew Money is to help people earn returns on their crypto with self-custody. We do this by making it simple to invest in blue-chip DeFi protocols. What has transpired over the last few weeks is unfortunate. We hope everyone who has been affected find strength to endure these difficult times.
This has also reinforced our belief in the principles of decentralization and self custody. We had been in closed beta over the last 6 months. Hundreds of people are using the Beta App right now and helped us make the app better. We’re close to rolling out the app to more people soon. Stay tuned for more updates!
And that’s it for today, folks. See ya next Friday. 🧢
Disclaimer: Nothing included in DeFi Fridays should be taken as financial advice.