While Aave and Compound Finance have taken different approaches, both have ultimately opted to deter PoW token hunters from borrowing too much ETH to avoid liquidity issues.
In the event of a fork, on-chain ETH hodlers such as those using non-custodial wallets or those holding on exchanges that are supporting ETHPoW will be airdropped the equivalent amounts of the new tokens to their ETH holdings.On Sept. 6, the Aave governance community overwhelminglyThis proposal was initially put forward on Aug. 24 as result of the demand for Aave ETH loans surging to levels that were starting to put pressure on the liquidity supply.
“Once the ETH borrow rate reaches 5%, which happens shortly after 70% utilization rate , stETH/ETH positions start becoming unprofitable,” the proposal stated as of Aug. 24. The vote yesterday polled 77.87% in favor and 22.13% against , and the proposal was executed on the same day.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance to temporarily suspend ETH and WETH deposits and withdrawals ahead of the MergeThe upcoming Merge is causing exchanges to be cautious, as Binance plans to freeze ETH and WETH deposits and withdrawals soon.
Read more »
Crypto miner Poolin pauses BTC and ETH withdrawals, citing 'liquidity problems'Are crypto miners the next domino to fall? Crypto miner Poolin pauses BTC and ETH wallet withdrawals, citing 'liquidity problems.'
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate to Start the Week – Market Updates Bitcoin NewsVolatility in crypto markets remained high on Monday, as bitcoin was mostly in the red to start the week. Ethereum is currently below $1,600.
Read more »
ETC Soars 28%, ETH Up 7% on Bellatrix Upgrade Day (Market Watch)Ethereum Classic is today's most significant gainer with a massive 26% surge. ETH is also well in the green ahead of the Bellatrix upgrade.
Read more »
ETH Merge: CoinGecko co-founder shares strategy for forked tokensMany believe that after Ethereum transitions to proof-of-stake, a faction of Ether miners will create a PoW fork of the network. CoinGecko co-founder Bobby Ong believes that there are ways for $ETH holders to take advantage of this upcoming event.
Read more »
ETH/BTC Hits 2022 High Ahead of Merge UpgradeEthereum experiencing some semblance of revival less than two weeks before much-anticipated Merge upgrade
Read more »