As The Merge update approaches, the possibility of a possible “powEth” airdrop after the fork forces both users and platforms to make some moves.
As The Merge, one of the biggest updates in history for the Ethereum network, approaches, lender and borrower decentralized finance (DeFi) platforms are also taking different measures to avoid potential risks and market distortions. The most important reason for the platforms to take these measures is that many investors have a possible “powEth” is due to looking for ways to take advantage of opportunities for its airdrop. It is not clear whether this airdrop, which is at the center of expectations, will take place, and it is not known what its financial value will be if it does. Anticipation of a potential airdrop It is reported that the amount of Ethereum borrowed from decentralized lending platforms has also increased significantly in recent days.
Looking at the history of cryptocurrencies, previous Bitcoin forks Bitcoin Cash and Bitcoin Gold It can be seen that new coins such as same situation actually 2016 It also happened on Ethereum. After a hack 60 million dollars As a result of the discussions about the fork and return of the assets frozen and stolen assets, Ethereum Classic was out.
Aave Suspends Ethereum Debit Transactions
Aave, one of the decentralized debiting platforms with one of the highest locked assets, announced that it has stopped its Ethereum debiting operations. A risk plan released on August 23 was presented to the community. According to this plan, variable borrowing in the interim to The Merge APRof the 103%‘skin 1.000%He suggested removing it. It is known that the platform took this decision to reduce excessive use in line with increasing borrowing demands.
Airdrop Probability Curve stEth Unstable
The stETH price on the decentralized lending platform Curve has lost its parity and 0.9590 Ethereumfell to. Currently, there are 156,843 Ethereum (22.87%) and 528,986 stETH (77.13%) in the current pool. The reason for this breakdown fork airdrop It is seen as a high demand created by users to buy it.
Compound Increases Combined Rates
Contrary to Aave’s decision, Compound, another decentralized finance platform, chose to increase its lending rate and replace its interest rate model with a bounce rate model. Compound’s “bounce rate” interest model will be determined based on usage, with 2% at 0% usage, 20% at optimal usage, and 1,000% at 100% usage. According to the Compound platform, these levels are suggested to be sufficient to prevent bankruptcy or other financial disruptions in the borrowing and withdrawal markets.