A recap of the Aave ecosystem, June 14th to June 20th 2021

Aave News

Hey Aavengers 👻 and welcome to Aave News - a recap of what is happening in the Aave ecosystem, brought to you by the Aave Grants DAO. Highlights this week include continued signs of Aave’s on-chain and off-chain growth, a new collateral asset, Stani getting behind the mic, and the first batch of grant recipients from yours truly!

State of the protocol 📰

New stats. The Aave protocol continues to grow, notably over the past week:

These stats were pulled from the Aave newsletter put together by @A_BertoG - subscribe on aave.com or follow along on the governance forum.

Ecosystem 🧉

Revolut and Sygnum add support for AAVE. Aave’s adoption off-chain continued as UK based Revolut and Switzerland based Sygnum announced plans (here and here respectively) to support AAVE on their platforms. In Revolut’s case, this will allow for their over 15 million users across 35+ countries to gain exposure to defi assets and, likely overtime, be onboarded directly to defi protocols through these apps. This is what BanklessHQ calls the “defi mullet”, when there is a familiar fintech experience with an app but behind the scenes the experience is powered by defi. Sygnum’s announcement included plans to add support for earning directly through defi protocols like Aave, and although their announcement did not mention it, Revolut will likely be not far behind with similar support.


Photo caption: The defi mullet - h/t @BanklessHQ, original article.

Governance ⚖️

The universities are coming. Penn Blockchain and Blockchain@Brown announced that they will start participating in Aave governance, joining Blockchain at UCLA and HEC Montreal who are already active delegates.

To see a full list of current Aave delegates and their total vote count, check out https://sybil.org/#/delegates/aave or if you are reading from a university and are interested in becoming a delegate, you can find out more information about Sybil here.

New market watch 💹

Welcome RAI! On Thursday, voting for AIP 22 ended, resulting in RAI being added as a collateral asset to Aave V2. RAI is a governance minimized stablecoin from Reflexer Labs that is backed only by ETH and maintains a moving peg.

This increases the amount of stablecoin collateral on Aave and helps to diversify the collateral in the protocol by adding a non-dollar pegged stablecoin.