PANews March 1st reported that, according to on-chain analyst Yu Jin’s monitoring, the governance dispute between the Aave development team and the community has lasted for three months since early December. During this period, Aave’s TVL has decreased from $36 billion to $26.5 billion (according to DefiLlama data). This decline is due to both the value loss from the falling prices of major collateral assets like WBTC and ETH, and whales shifting their funds to other lending platforms due to governance disputes.
The largest whale to switch funds is Justin Sun. During this time, he withdrew $910 million in stablecoins from Aave and moved them to Sky and its sub-DAO Spark. Since early December, his deposits on Sky and Spark have increased from $570 million to $1.48 billion.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Plasma One enters internal testing phase, dedicated to creating a stablecoin payment gateway
The head of the Plasma engineering team stated that Plasma One has entered the private testing phase, aimed at enhancing the usability and user experience of crypto products and building services similar to a new type of digital bank. The team plans to accelerate iteration and open up early access.
GateNews21m ago
xStocks points system, xPoints, open for inquiry, supporting multiple accumulation methods
Gate News reports that on March 18, xStocks announced on the X platform that its points system, xPoints, now has query functionality enabled. Users can automatically accumulate points through three methods: holding tokenized stocks in their wallet, establishing positions in the lending market, and providing liquidity to decentralized exchanges (DEX). xStocks stated that it will announce more partnership information in the coming weeks.
GateNews21m ago
LayerZero Integrates Cardano, OFT Standard Supports Over 700 Tokens Expansion
Gate News, on March 18, LayerZero announced the integration of Cardano, connecting the Cardano ecosystem with over 160 blockchains including Ethereum, Solana, and Aptos. In this deployment, LayerZero's omnichain fungible token (OFT) standard supports over 700 existing tokens natively extending to Cardano. Developers and users can access the aforementioned assets and applications across chains.
GateNews40m ago
Vitalik Proposes 12-Second Transaction Irreversibility New Rule, Low-Latency Network Provides Strong Security
Ethereum founder Vitalik Buterin has proposed a new fast finality rule that guarantees Ethereum transactions become irreversible within 12 seconds, aiming to improve the current mechanism that requires 6.4 minutes for final confirmation. This proposal relies on the majority of validator nodes being honest and network latency being below 3 seconds. If these conditions hold, it could effectively enhance user experience.
MarketWhisper47m ago
Doodles Launches AI Creative Tool makedoodles.ai
Gate News, on March 18, NFT project Doodles launched an AI creation platform at makedoodles.ai. The platform supports users uploading images and generating artwork in Doodles style through AI technology.
GateNews1h ago
