Binance Square
Adoption
446,159 views
361 Posts
Hot
Latest
LIVE
LIVE
PRO Crypto Tech
--
đŸ‡”đŸ‡± Binance gains regulatory approval to offer crypto services in Poland. Binance Playing Best Role in Crypto Adoption đŸ”„đŸ‘Œ #Binance #Adoption #Regulation
đŸ‡”đŸ‡± Binance gains regulatory approval to offer crypto services in Poland.

Binance Playing Best Role in Crypto Adoption đŸ”„đŸ‘Œ

#Binance #Adoption #Regulation
Latest đŸ—žïž Over 40 million Filipinos đŸ‡”đŸ‡­ can now receive instant, zero-fee remittances in local currency from the EU and the UK through the #Bitcoin  Lightning Network! đŸ‘đŸ»đŸ‘đŸ» Bitcoin #Adoption #bitcoin #btc #crypto
Latest đŸ—žïž Over 40 million Filipinos đŸ‡”đŸ‡­ can now receive instant, zero-fee remittances in local currency from the EU and the UK through the #Bitcoin  Lightning Network! đŸ‘đŸ»đŸ‘đŸ»

Bitcoin #Adoption

#bitcoin #btc #crypto
🚀 Did you know? The global community of cryptocurrency users has been skyrocketing in recent years! According to Statista, the number of crypto users surged by nearly 190% between 2018 and 2020 (STATISTA), and the momentum only picked up steam in 2022. What's driving this surge? Well, it's a combination of factors! Initially, the increase in user base could be attributed to the rise in the number of accounts and improvements in identification processes. But the real game-changer came in 2021 when big-name companies like Tesla and Mastercard jumped on the crypto bandwagon, signaling mainstream acceptance. Interestingly, consumers in regions like Africa, Asia, and South America were leading the charge in crypto ownership in 2022. This global embrace of cryptocurrencies, including popular ones like Bitcoin, highlights the growing interest and adoption of digital assets worldwide. 💰🌍 #Cryptocurrency #Bitcoin #Adoption #GlobalTrend #Write2Earn‬
🚀 Did you know? The global community of cryptocurrency users has been skyrocketing in recent years! According to Statista, the number of crypto users surged by nearly 190% between 2018 and 2020 (STATISTA), and the momentum only picked up steam in 2022. What's driving this surge? Well, it's a combination of factors! Initially, the increase in user base could be attributed to the rise in the number of accounts and improvements in identification processes. But the real game-changer came in 2021 when big-name companies like Tesla and Mastercard jumped on the crypto bandwagon, signaling mainstream acceptance. Interestingly, consumers in regions like Africa, Asia, and South America were leading the charge in crypto ownership in 2022. This global embrace of cryptocurrencies, including popular ones like Bitcoin, highlights the growing interest and adoption of digital assets worldwide. 💰🌍 #Cryptocurrency #Bitcoin #Adoption #GlobalTrend #Write2Earn‬
Exploring the recent rise in crypto-related mediations in French financial markets, this article unpacks the latest report from the AMF ombudsman. #AMF #France #Adoption #Regulations https://blockchainreporter.net/amf-reveals-jump-in-crypto-dispute-resolutions/
Exploring the recent rise in crypto-related mediations in French financial markets, this article unpacks the latest report from the AMF ombudsman.

#AMF #France #Adoption #Regulations

https://blockchainreporter.net/amf-reveals-jump-in-crypto-dispute-resolutions/
LIVE
--
Bullish
Deutsche Telekom joins Polygon as a validator, bolstering blockchain technology's growth and mainstream adoption. #MATIC #Polygon #Adoption #ecosystem https://blockchainreporter.net/deutsche-telekom-announces-integration-with-polygon-blockchain-becomes-one-of-the-top-100-validators/
Deutsche Telekom joins Polygon as a validator, bolstering blockchain technology's growth and mainstream adoption.

#MATIC #Polygon #Adoption #ecosystem

https://blockchainreporter.net/deutsche-telekom-announces-integration-with-polygon-blockchain-becomes-one-of-the-top-100-validators/
Unveiling the Future: Exploring the Rise of Crypto Gaming🎼 The gaming industry has experienced significant growth in recent years, and the global pandemic has further accelerated its revenues. 📈 Analysts project this upward trend to continue, with estimates reaching a staggering $321 billion by 2026. 💡 In optimistic view, crypto gaming is poised to be an integral part of this industry's evolution—a natural progression from the early days of 8-bit games to devices, PCs, consoles, and now, crypto integration. 🔗 Integrating cryptocurrencies into gaming represents a powerful way to drive adoption and engagement among users. It holds immense potential to reshape the gaming landscape. ⚠ Of course, it's important to acknowledge the challenges that come with gaming tokenomics. Many existing models are unsustainable and lack utility, while only a few games have successfully developed solid products. 🌟 Nevertheless,  that crypto's involvement in gaming is a crucial step forward. It presents an opportunity for innovation, reinvention, and the creation of new experiences within the gaming world. 💰 Consequently, it might be worth considering investing in a gaming coin during the next bull run, as this sector continues to show promising growth potential. 👀 Keep a close eye on the gaming industry, my friends. Exciting developments lie ahead, and crypto's integration is set to reshape the way we play and interact with games. #Metaverse  #CryptoGaming #Adoption #Investing #Cryptocurrencies

Unveiling the Future: Exploring the Rise of Crypto Gaming

🎼 The gaming industry has experienced significant growth in recent years, and the global pandemic has further accelerated its revenues.

📈 Analysts project this upward trend to continue, with estimates reaching a staggering $321 billion by 2026.

💡 In optimistic view, crypto gaming is poised to be an integral part of this industry's evolution—a natural progression from the early days of 8-bit games to devices, PCs, consoles, and now, crypto integration.

🔗 Integrating cryptocurrencies into gaming represents a powerful way to drive adoption and engagement among users. It holds immense potential to reshape the gaming landscape.

⚠ Of course, it's important to acknowledge the challenges that come with gaming tokenomics. Many existing models are unsustainable and lack utility, while only a few games have successfully developed solid products.

🌟 Nevertheless,  that crypto's involvement in gaming is a crucial step forward. It presents an opportunity for innovation, reinvention, and the creation of new experiences within the gaming world.

💰 Consequently, it might be worth considering investing in a gaming coin during the next bull run, as this sector continues to show promising growth potential.

👀 Keep a close eye on the gaming industry, my friends. Exciting developments lie ahead, and crypto's integration is set to reshape the way we play and interact with games.

#Metaverse  #CryptoGaming #Adoption #Investing #Cryptocurrencies
Cryptocurrency Adoption: Breaking Barriers and Embracing the Future 🚀🌍Cryptocurrency adoption is rapidly reshaping the financial landscape, breaking barriers, and paving the way for a decentralized future. As digital currencies gain momentum, they offer transformative potential across various sectors and empower individuals around the world. đŸ’Ș💡 1ïžâƒŁ Financial Inclusion: Cryptocurrencies provide access to financial services for the unbanked and underbanked populations. With just a smartphone and an internet connection, individuals can participate in the global economy, send and receive funds, and accumulate wealth. 2ïžâƒŁ Cross-Border Transactions: Traditional cross-border transactions are often slow, costly, and subject to intermediaries. Cryptocurrencies enable instant and low-cost cross-border transfers, eliminating the need for cumbersome processes and reducing fees. 3ïžâƒŁ Security and Privacy: Blockchain technology, the foundation of cryptocurrencies, offers enhanced security and privacy. The decentralized nature of cryptocurrencies reduces the risk of fraud and identity theft, providing individuals with more control over their financial information. 4ïžâƒŁ Financial Sovereignty: Cryptocurrencies empower individuals to become their own bank. With full ownership of private keys, users have complete control over their funds, removing reliance on centralized authorities and enabling self-custody. 5ïžâƒŁ Micropayments and Remittances: Cryptocurrencies facilitate micropayments, enabling new business models and revenue streams. Additionally, they revolutionize remittances by reducing fees and increasing efficiency for individuals sending money across borders. 6ïžâƒŁ Technological Innovation: The rise of cryptocurrencies fuels innovation in various sectors, including blockchain technology, smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). These advancements have the potential to reshape industries and create new opportunities. 7ïžâƒŁ Store of Value and Hedge Against Inflation: Cryptocurrencies, such as Bitcoin, serve as a store of value and a hedge against inflation. Their limited supply and decentralized nature make them attractive assets for preserving wealth in uncertain economic times. Cryptocurrency adoption is not without challenges. Regulatory frameworks, scalability, and user experience are areas that require attention for widespread adoption. However, as technology advances and awareness grows, the potential benefits of cryptocurrencies become increasingly apparent. Embrace the future of finance. Stay informed about the latest developments, explore new use cases, and understand the opportunities and risks that come with cryptocurrency adoption. Together, let's shape a more inclusive, transparent, and decentralized financial ecosystem. đŸŒđŸ’±đŸš€ #Cryptocurrency #Adoption #FutureFinance

Cryptocurrency Adoption: Breaking Barriers and Embracing the Future 🚀🌍

Cryptocurrency adoption is rapidly reshaping the financial landscape, breaking barriers, and paving the way for a decentralized future. As digital currencies gain momentum, they offer transformative potential across various sectors and empower individuals around the world. đŸ’Ș💡

1ïžâƒŁ Financial Inclusion: Cryptocurrencies provide access to financial services for the unbanked and underbanked populations. With just a smartphone and an internet connection, individuals can participate in the global economy, send and receive funds, and accumulate wealth.

2ïžâƒŁ Cross-Border Transactions: Traditional cross-border transactions are often slow, costly, and subject to intermediaries. Cryptocurrencies enable instant and low-cost cross-border transfers, eliminating the need for cumbersome processes and reducing fees.

3ïžâƒŁ Security and Privacy: Blockchain technology, the foundation of cryptocurrencies, offers enhanced security and privacy. The decentralized nature of cryptocurrencies reduces the risk of fraud and identity theft, providing individuals with more control over their financial information.

4ïžâƒŁ Financial Sovereignty: Cryptocurrencies empower individuals to become their own bank. With full ownership of private keys, users have complete control over their funds, removing reliance on centralized authorities and enabling self-custody.

5ïžâƒŁ Micropayments and Remittances: Cryptocurrencies facilitate micropayments, enabling new business models and revenue streams. Additionally, they revolutionize remittances by reducing fees and increasing efficiency for individuals sending money across borders.

6ïžâƒŁ Technological Innovation: The rise of cryptocurrencies fuels innovation in various sectors, including blockchain technology, smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). These advancements have the potential to reshape industries and create new opportunities.

7ïžâƒŁ Store of Value and Hedge Against Inflation: Cryptocurrencies, such as Bitcoin, serve as a store of value and a hedge against inflation. Their limited supply and decentralized nature make them attractive assets for preserving wealth in uncertain economic times.

Cryptocurrency adoption is not without challenges. Regulatory frameworks, scalability, and user experience are areas that require attention for widespread adoption. However, as technology advances and awareness grows, the potential benefits of cryptocurrencies become increasingly apparent.

Embrace the future of finance. Stay informed about the latest developments, explore new use cases, and understand the opportunities and risks that come with cryptocurrency adoption. Together, let's shape a more inclusive, transparent, and decentralized financial ecosystem. đŸŒđŸ’±đŸš€ #Cryptocurrency #Adoption #FutureFinance
See original
Is there adoption?Uniswap has just launched a beta cryptocurrency wallet for Android, offering automatic switching between main and second-layer networks, along with other features. Around 35,000 users have already signed up for the waiting list. The source code will be made available for cybersecurity auditing. The wallet promises fast exchanges, easy token discovery and price transparency, as well as protection against common DeFi attacks. This launch follows the success of the iOS version, making Uniswap more accessible globally despite facing recent regulatory challenges.#criptomoeda #Adoption

Is there adoption?

Uniswap has just launched a beta cryptocurrency wallet for Android, offering automatic switching between main and second-layer networks, along with other features. Around 35,000 users have already signed up for the waiting list. The source code will be made available for cybersecurity auditing. The wallet promises fast exchanges, easy token discovery and price transparency, as well as protection against common DeFi attacks. This launch follows the success of the iOS version, making Uniswap more accessible globally despite facing recent regulatory challenges.#criptomoeda #Adoption
JPMorgan debuts tokenization platform, BlackRock among key clients: Report 💰— Crypto is going mainstream! 📈 I'm excited to see JPMorgan, one of the world's largest banks, launching a tokenization platform. This shows that even the most traditional financial institutions are starting to recognize the potential of crypto. 🚀 BlackRock, the world's largest asset manager, is also a key client of the platform. This is a huge validation for crypto and shows that institutional investors are taking it seriously. 💎🙌 #crypto2023 #Tokenization #JPMorgan #BlackRock #Adoption 📈💰 P.S. This is the future of finance! 🔼
JPMorgan debuts tokenization platform, BlackRock among key clients: Report 💰— Crypto is going mainstream! 📈

I'm excited to see JPMorgan, one of the world's largest banks, launching a tokenization platform. This shows that even the most traditional financial institutions are starting to recognize the potential of crypto. 🚀

BlackRock, the world's largest asset manager, is also a key client of the platform. This is a huge validation for crypto and shows that institutional investors are taking it seriously. 💎🙌

#crypto2023 #Tokenization #JPMorgan #BlackRock #Adoption 📈💰

P.S. This is the future of finance! 🔼
HSBC, one of Hong Kong's largest banks, has made a groundbreaking move by allowing its clients to trade Bitcoin and Ethereum ETFs. #Adoption #bitcoin #Ethereum #HSBC $BTC #ETF $ETH https://blockchainreporter.net/hsbc-becomes-first-bank-to-launch-bitcoin-and-ethereum-etf-trading-in-hong-kong/
HSBC, one of Hong Kong's largest banks, has made a groundbreaking move by allowing its clients to trade Bitcoin and Ethereum ETFs.

#Adoption #bitcoin #Ethereum #HSBC $BTC #ETF $ETH

https://blockchainreporter.net/hsbc-becomes-first-bank-to-launch-bitcoin-and-ethereum-etf-trading-in-hong-kong/
Robinhood Introduces Android Wallet for Crypto AdoptionRobinhood Markets has revealed the availability of its Wallet feature for Android users worldwide, aiming to encourage the adoption of cryptocurrencies and Web3 technologies. Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol On Wednesday, Robinhood Markets announced the launch of Robinhood Wallet for Android users worldwide. With this move, Robinhood aims to further its mission of promoting crypto adoption, positioning itself as the most reliable and user-friendly platform for cryptocurrency transactions. Robinhood’s Android Wallet Boosts Crypto Access In a press release on March 20, commission-free stocks and crypto trading app Robinhood unveiled the launch of Robinhood Wallet for Android users. This move is significant, considering Android’s dominance with a 70% share of the global mobile operating system market. According to Johann Kerbrat, the General Manager of Robinhood Crypto, the introduction of Robinhood Wallet on Android marks a substantial stride in the company’s dedication to democratizing crypto access and seamlessly integrating it into daily life for millions worldwide. Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol The timing of the launch is strategic, coinciding with the ongoing crypto bull market, which presents a prime opportunity for millions of potential users worldwide to enter the crypto space. With Robinhood Wallet, Android users gain the ability to retain private keys and exercise control over their digital assets. This functionality enables users to store, manage, send, and receive various cryptocurrencies across networks like Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base. Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol Additionally, Robinhood Wallet offers a range of services, including swapping cryptocurrencies, adding funds, and providing insights into trending tokens, enhancing the overall user experience and empowering individuals to navigate the crypto landscape with ease. Also Read:   Top 6 Altcoins for 6x Rally in 2024 Bernstein’s “Outperform” Rating for Robinhood Predicts Crypto Surge Research firm Bernstein recently bestowed an “outperform” rating upon Robinhood Markets, with analyst Gautam Chhugani forecasting a ninefold increase in cryptocurrency trade volume at the online brokerage over the next two years. Chhugani set a high price target of $30 for the stock, the most bullish among analysts tracked by Bloomberg. Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol Following its expansion into the UK last year, Robinhood’s stock (HOOD) has surged by 40% year-to-date, reaching $17.74 at present—a nearly 3% increase on Wednesday alone. Robinhood Europe has recently listed Circle’s USD Coin (USDC) on its platform, expanding its cryptocurrency offerings to include over 25 digital assets. Additionally, the crypto exchange has introduced a program for USDC holders, offering the opportunity to earn rewards of up to 10%. Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice. Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol #Robinhood #Adoption #Android #Bitcoin #Altcoin $BTC $ETH $BNB

Robinhood Introduces Android Wallet for Crypto Adoption

Robinhood Markets has revealed the availability of its Wallet feature for Android users worldwide, aiming to encourage the adoption of cryptocurrencies and Web3 technologies.
Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

On Wednesday, Robinhood Markets announced the launch of Robinhood Wallet for Android users worldwide. With this move, Robinhood aims to further its mission of promoting crypto adoption, positioning itself as the most reliable and user-friendly platform for cryptocurrency transactions.

Robinhood’s Android Wallet Boosts Crypto Access
In a press release on March 20, commission-free stocks and crypto trading app Robinhood unveiled the launch of Robinhood Wallet for Android users. This move is significant, considering Android’s dominance with a 70% share of the global mobile operating system market.
According to Johann Kerbrat, the General Manager of Robinhood Crypto, the introduction of Robinhood Wallet on Android marks a substantial stride in the company’s dedication to democratizing crypto access and seamlessly integrating it into daily life for millions worldwide.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

The timing of the launch is strategic, coinciding with the ongoing crypto bull market, which presents a prime opportunity for millions of potential users worldwide to enter the crypto space.
With Robinhood Wallet, Android users gain the ability to retain private keys and exercise control over their digital assets. This functionality enables users to store, manage, send, and receive various cryptocurrencies across networks like Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Additionally, Robinhood Wallet offers a range of services, including swapping cryptocurrencies, adding funds, and providing insights into trending tokens, enhancing the overall user experience and empowering individuals to navigate the crypto landscape with ease.
Also Read:   Top 6 Altcoins for 6x Rally in 2024
Bernstein’s “Outperform” Rating for Robinhood Predicts Crypto Surge
Research firm Bernstein recently bestowed an “outperform” rating upon Robinhood Markets, with analyst Gautam Chhugani forecasting a ninefold increase in cryptocurrency trade volume at the online brokerage over the next two years. Chhugani set a high price target of $30 for the stock, the most bullish among analysts tracked by Bloomberg.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Following its expansion into the UK last year, Robinhood’s stock (HOOD) has surged by 40% year-to-date, reaching $17.74 at present—a nearly 3% increase on Wednesday alone.
Robinhood Europe has recently listed Circle’s USD Coin (USDC) on its platform, expanding its cryptocurrency offerings to include over 25 digital assets. Additionally, the crypto exchange has introduced a program for USDC holders, offering the opportunity to earn rewards of up to 10%.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

#Robinhood #Adoption #Android #Bitcoin #Altcoin $BTC $ETH $BNB
Theta Labs partners with ABS-CBN to bring Web3 technology to SEA media and entertainment, introducing a set of NFT collections. #THETA #NFT #Web3 #Adoption https://blockchainreporter.net/theta-labs-and-abs-cbn-to-introduce-nft-collections-for-fans-in-the-philippines/
Theta Labs partners with ABS-CBN to bring Web3 technology to SEA media and entertainment, introducing a set of NFT collections.

#THETA #NFT #Web3 #Adoption

https://blockchainreporter.net/theta-labs-and-abs-cbn-to-introduce-nft-collections-for-fans-in-the-philippines/
When #Binance #Web3 wallet can integrate #Polkadot substrate based networks? Moonbeam, Astar, Phala, Acala, Unique, Polkadex, Polkadot Assets, etc. đŸ€” Is Binance lack of Rust and substrate engineers? 😅 Miilions of Substrate based blockchain users are coming to Binance web3 wallet. $BNB $DOT $ASTR #Adoption 🚀😎🎉
When #Binance #Web3 wallet can integrate #Polkadot substrate based networks? Moonbeam, Astar, Phala, Acala, Unique, Polkadex, Polkadot Assets, etc. đŸ€”

Is Binance lack of Rust and substrate engineers? 😅

Miilions of Substrate based blockchain users are coming to Binance web3 wallet.

$BNB $DOT $ASTR

#Adoption 🚀😎🎉
Aave, Sky float partnership to bridge DeFi, TradFiThe plan would create markets for DAI-replacement USDS on Aave. Decentralized finance (DeFi) protocols Aave and Sky (previously Maker) are exploring a partnership designed to “close the gap between DeFi and TradFi,” according to a Sept. 2 announcement. The proposed partnership, referred to as the Sky Aave Force, follows a Sept. 2 governance proposal by Phoenix Labs, a DeFi research and development organization. The proposal suggests issuing SPK tokens—native to Sky’s subDAO, Spark—to help establish a market for USDS, a stablecoin launched after Maker’s August rebranding to Sky. “Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together,” said Aave Labs, the developer behind the Aave DeFi lending platform. Sky Aave Force aims to bridge DeFi, TradFi. Source: Aave Labs Related: Maker DeFi lending protocol rebrands to Sky ahead of USDS stablecoin launch Phoenix Labs proposes distributing up to 3.33 million SPK tokens per month to incentivize an Aave v3 market for Sky’s sUSDS, a yield-bearing token representing deposits in the Sky Savings Rate (SSR) program. Similar to its predecessor, the DAI Savings Rate (DSR) program, SSR provides yield to depositors from the revenues generated by Sky’s protocol. As proposed, idle sUSDS on Aave “consistently earns the Sky Savings Rate (SSR), allowing the market to outperform the USDC/USDT counterparts,” Phoenix Labs said. The proposal also suggests introducing a USDS Direct Deposit Module (D3M) to Aave’s Lido Market, with an initial debt ceiling of $100 million. In July, Aave partnered with Lido, the leading Ethereum staking protocol, to create a lending market for wstETH, a liquid staking derivative (LSD) representing a claim on Lido’s ETH staking pool. The D3M would enable Sky to mint USDS directly into Aave’s market without needing to meet the usual collateral requirements. Aave is the largest lending market in DeFi with over 11b in TVL across multiple chains. This presents a lot of synergies between the two protocols with USDS being the largest decentralized stablecoin,” Phoenix said. “We view this as a first step to a deeper relationship with Aave to promote both protocols as the core of scalable DeFi,” Phoenix added. #Blockchain #Altcoin #Ethereum #Adoption #KNIFE

Aave, Sky float partnership to bridge DeFi, TradFi

The plan would create markets for DAI-replacement USDS on Aave.

Decentralized finance (DeFi) protocols Aave and Sky (previously Maker) are exploring a partnership designed to “close the gap between DeFi and TradFi,” according to a Sept. 2 announcement.

The proposed partnership, referred to as the Sky Aave Force, follows a Sept. 2 governance proposal by Phoenix Labs, a DeFi research and development organization. The proposal suggests issuing SPK tokens—native to Sky’s subDAO, Spark—to help establish a market for USDS, a stablecoin launched after Maker’s August rebranding to Sky.

“Sky Aave Force has an ambitious goal: to drive mass adoption and close the gap between DeFi and TradFi. Now is the time to work together,” said Aave Labs, the developer behind the Aave DeFi lending platform.

Sky Aave Force aims to bridge DeFi, TradFi. Source: Aave Labs

Related: Maker DeFi lending protocol rebrands to Sky ahead of USDS stablecoin launch

Phoenix Labs proposes distributing up to 3.33 million SPK tokens per month to incentivize an Aave v3 market for Sky’s sUSDS, a yield-bearing token representing deposits in the Sky Savings Rate (SSR) program. Similar to its predecessor, the DAI Savings Rate (DSR) program, SSR provides yield to depositors from the revenues generated by Sky’s protocol.

As proposed, idle sUSDS on Aave “consistently earns the Sky Savings Rate (SSR), allowing the market to outperform the USDC/USDT counterparts,” Phoenix Labs said.

The proposal also suggests introducing a USDS Direct Deposit Module (D3M) to Aave’s Lido Market, with an initial debt ceiling of $100 million. In July, Aave partnered with Lido, the leading Ethereum staking protocol, to create a lending market for wstETH, a liquid staking derivative (LSD) representing a claim on Lido’s ETH staking pool.

The D3M would enable Sky to mint USDS directly into Aave’s market without needing to meet the usual collateral requirements.
Aave is the largest lending market in DeFi with over 11b in TVL across multiple chains. This presents a lot of synergies between the two protocols with USDS being the largest decentralized stablecoin,” Phoenix said.

“We view this as a first step to a deeper relationship with Aave to promote both protocols as the core of scalable DeFi,” Phoenix added.
#Blockchain

#Altcoin

#Ethereum

#Adoption

#KNIFE
Explore the latest crypto news
âšĄïž Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number