Hassan Maishera
On Monday, Aave Labs announced via X that Aave DAO deployed a dedicated Ether.fi market on Aave. Thanks to this deployment, users can now borrow stablecoins like $USDC, $pyUSD, and $FRAX against their Ether.fi weETH liquid staking tokens.
This is the second dedicated instance, following Lido's last month and Ethena's, which is currently in a final comment period in Aave DAO governance.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $13.34 per token, up 8.5% in the last 24 hours.
