Cryptocurrencies such as AAVE coin, SEI, ETHFI attracted attention with various developments in the last day. In this article, we will examine all the developments and price changes.
New voting for AAVE coin
Marc Zeller, Founder of Aave Chan Initiative, announced a potential vote for fee key activation and distribution on Aave. Zeller points to its potential impact on how the platform uses its annual net profits. According to Zeller’s post, net DAO profits are currently $50 million per year and growing steadily. The post pointed out the possible impact of the new move on how Aave DAO uses its annual net profits. Previously, in an X post, Zeller shared insights into Aave DAO’s fee distribution for GHO holders.
Aave’s plans to improve stakers’ rewards are in line with recent moves from leading industry leaders such as Frax Finance and Uniswap DeFi. Decentralized stablecoin protocol Frax Finance recently approved a proposal to reimplement the protocol fee switch. Similarly, cryptokoin.com As we reported, Uniswap also proposed updating its protocol governance and focused on the redistribution of protocol fees to the UNI token. With the development, the AAVE coin price increased by 5.4 percent.
KAVA leaps forward with KAVA AI announcement
Kava co-founder Scott Stuart announced in a statement at the “2024 Hong Kong Web3 Carnival” that Kava plans to launch a decentralized Chatbot called “Kava AI”. This Chatbot provides advanced reasoning, code generation, language processing, etc. Cross models such as will support forward thinking. Kava AI will be community driven and fully open source. Kava AI Marketplace will allow users to discover, deploy and consume AI services and solutions and will serve the Kava ecosystem using existing cross-chain infrastructure.
Use cases include Meme token creation and distribution, NFT series creation, and human language translation requests. Kava AI will also power the KAVA token, specifically aiming to build an open AGI and further strengthen the Kava AI Marketplace by incentivizing it to build the DePIN GPU cloud infrastructure. Relevant recommendations may be published as early as the second quarter. Previously, Kava co-founder Scott Stuart stated on social platforms that Kava AI powers KAVA, and it is simply built on top of Kava.
There are also new statements for SEI and ETHFI
On April 4, Sei Foundation announced the launch of the Sei Creator Fund, which aims to support NFT and social projects in the Sei ecosystem. The fund will support the creation of new projects and the growth of existing projects and provide funding in collaboration with Gitcoin. The first round of applications has opened and creators can apply directly to the foundation. The second phase will be driven by the community and funds will be distributed in collaboration with Gitcoin. This represents a unique opportunity to support and advance projects within the Sei ecosystem.
Ethereum liquidity resupply protocol ether.fi announced that it will launch its second Liquid vault on social platforms next week. This refers to the USD market strategy that allows users to trade in the cryptocurrency. Following the developments, ETHFI increased by 6% and Kava increased by 5%.
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