Hassan Maishera
Chainlink announced via X on Monday that following a successful initial pilot, the Aave DAO has officially voted unanimously to expand its use of Chainlink SVR to cover additional markets. This increases SVR market coverage on Aave from ~3% to ~27% of the protocol's TVL on Ethereum.
SVR is a novel oracle solution that allows Aave to securely recapture oracle-related liquidation MEV, with the recaptured value split between Aave and Chainlink. During the pilot period, SVR operated without issue, successfully liquidating at-risk positions while ensuring zero bad-debt accrual for the Aave protocol.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is down 4.5% over the past 24 hours, trading at $16.26.
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 $214.32 per token, down 2.8% in the last 24 hours.
