February 7, 2021: Skimp and $SAave ๐ฆ๐
Keep Ahead of the Curve
Here are todayโs trends to watch from Curve Market Cap.
Today we highlight the third of the three new pools Curve is adding, the $SAave pool. We recently featured the other new pools, $ankrETH and $yv2.
The newest pool is here to $SAave the day! Welcome to the $SAave pool, the fulfillment of sCIP#16 from November 2020, proposed by the DeFi Dollar team.
The pool targets โdecentralization maximalists who want to hedge against any particular centralized stablecoin failing.โ Unlike many other Curve pools, $SAave has no exposure to Tether, a persistent source of anxiety and FUD.
$SAave is only exposed to two assets, the Aave SUSD and the Aave DAI stablecoins. Both of these can themselves see gains on their own. The proposal notes: โit is common to see Dai, sUSD, giving out 30%+ APR but only for a few hours.โ Indeed, the Curve team has teased โinteresting rewards to come.โ
Aave has emerged as a cornerstone of the DeFi ecosystem, recently passing the $5 billion mark.
Aave has definitely been a hit since the first Aave pool launched on Curve in late 2020. The pool now regularly falls within the top ten by daily trading volume:
Like many protocols, Aave is busy actively migrating users from V1 to V2.
The migration efforts have largely been successful so far:
The incentives are nicely set up and growing fast. This week they introduced a proposal to add liquidity incentives for v2:
If you want to learn more about the vision for Aave, founder Stani Kulechov has been hitting the circuit lately:
In the middle ages royalty had difficult relationship with the church. Nowadays thanks to the magnificence of Aave, at least one King has bent the knee:
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