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Home » Typography Elements » Aave Community Votes in Favor of ARFC Proposal to Phase Out Low Market Cap Stablecoins on Ethereum V2 Network

Aave Community Votes in Favor of ARFC Proposal to Phase Out Low Market Cap Stablecoins on Ethereum V2 Network

By adminJul. 12, 2023No Comments2 Mins Read
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Aave Community Votes in Favor of ARFC Proposal to Phase Out Low Market Cap Stablecoins on Ethereum V2 Network
Aave Community Votes in Favor of ARFC Proposal to Phase Out Low Market Cap Stablecoins on Ethereum V2 Network
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As a professional translator, I translate the news article into English:

In a recent vote, the Aave community has approved the ARFC proposal to deprecate low-cap stablecoins on the Aave V2 Ethereum network. The proposal author will now submit an Aave Improvement Proposal (AIP) to implement the suggested updates. The proposal recommends phasing out USDP, GUSD, LUSD, FRAX, and sUSD on Aave V2.

The proposal points out that recent events have highlighted the need for Aave to reduce its exposure to less-used stablecoins on V2, many of which have limited liquidity, allowing for price manipulation and other potential harmful events. Previously, the community followed a two-phase process to deprecate stablecoins, using BUSD and TUSD as examples. It is worth noting that the mentioned stablecoins are not collateral assets, which reduces the complexity of the process.

Tags:
Aave
Ethereum

Source link:
https://snapshot.org/#/aave.eth/proposal/0xf6aaa50a6a76f44df9cfbbb760ca8087885…

Note: All articles on Bitpush.news represent the views of the authors and do not constitute investment advice.

Original article link:
https://www.bitpush.news/articles/6677913

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