with everyone borrowing ETH to farm an ETHPoW fork, the supply rates on Aave are quietly shooting up.
Currently annualising 7.6% just for depositing your ETH
Of course, high utilisation has risks...
Currently annualising 7.6% just for depositing your ETH
Of course, high utilisation has risks...
so much so that this proposal to pause ETH borrowing is likely to pass..
what risks exactly?
"However this action alone might not be enough"
So they also propose a more aggressive interest rate curve for ETH by increasing the variable borrow APR at 100% utilization from 103% to 1,000%. Interesting times in DeFi!
governance.aave.com
governance.aave.com
$ETH borrowers on AAVE going nuts into le Merge
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