Aave has launched its strategy to earn Lido Staked Ethereum (sETH) through Oasis. Bitstamp USA added the Shiba Inu (SHIB) to its list as a result of increasing customer demands. Compound voted for 4 altcoin projects.
Hot developments on SHIB, AAVE, sETH and other altcoins
Aave launches sETH earning strategy through Oasis
Aave has launched a strategy to earn Lido Staked Ethereum (stETH) via frontend Oasis.app to borrow DAI, MakerDAO’s stablecoin. The new strategy will allow users to borrow Ethereum or ETH against their stETH. There were different ways of doing this. For example, you would deposit ETH first and borrow stETH from the Lido protocol. Then you would go to another platform like Aave and lend stETH for ETH again. However, Oasis will allow users with ETH to engage in this strategy in a single transaction using the Aave protocol, according to a post.
Bitstamp USA lists Shiba Inu (SHIB)
Bitstamp announced that it has expanded its Shiba Inu (SHIB) trading facility for its US customers.
https://twitter.com/Bitstamp/status/1584892534425210881
Bitstamp customers residing in the US are now able to trade Shiba Inu in two trading pairs, SHIB/USD and SHIB.EUR, according to an announcement made today. Meanwhile, Bitstamp has added SHIB to its list in other locations outside of the US as well.
Compound voted for 4 altcoins
Users will no longer be able to temporarily use 0x (ZRX), Basic Attention Token (BAT), Maker (MKR), and Yearn Finance (YFI) on Compound. After two days of voting, the DAO powering Compound Finance approved ‘proposal-131’, which will prevent users from lending relatively illiquid assets in the protocol.
The proposal is expected to protect the protocol against market manipulations, such as the $100 million exploit at Mango Markets. With 554,126 Compound (COMP) tokens used in the voting process, approximately 99.9% of all voters supported the proposal. Robert Leshner, founder of Compound Finance, also voted in favor of the proposal. According to the proposal, these tokens have less liquidity in open markets. Also, they are vulnerable to price manipulations.
Proposal 131 has passed with quorum. ✅
Proposal 131 pauses supply for cZRX, cBAT, cMKR, and cYFI on Compound v2.
The proposal will be applied in two days. https://t.co/WHPJVt5zyQ
— Compound Governance (@compgovernance) October 24, 2022
As BNB Chain grows, Binance continues to burn LUNCs
BNB Chain continues to grow. According to the latest data, Blockchain has reached 200 million addresses. In addition, BNB Chain has set up a $10 million fund to contribute to the growth of the ecosystem. Within the scope of the project called ‘Growth Incentive Program’, it will support 10 different projects in total for the rest of the year. The goal of the fund is to enable projects in the BNB Chain ecosystem to reach wider audiences and grow faster.
As you follow on Kriptokoin.com, Binance’s TerraClassic (LUNC) burning action continues at full speed. According to the latest data announced by Binance, approximately 1.3 billion LUNC burns took place in 1 week. Binance announced that 1.3 billion LUNC worth of 316 thousand dollars were burned in the 4th week of the burn.
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