Crypto Information– Olympus DAO Proposes Cost in DAI at a Price of 0.9470 DAI per AURA Token, Equal to Present Market Worth, for the Acquisition of 443,674 AURA Tokens by Aave DAO. The Complete Price to Aave DAO Quantities to 420,159.28 DAI Items. Aave DAO At present Holds 2.873 Million Items of aDAI on Aave v2.
Aave DAO Greenlights Proposal for the Acquisition of 443,674 AURA Tokens from Olympus DAO
This proposal’s goal is to substitute the backing supplied by Aura Finance by procuring 443,674 AURA tokens from Olympus DAO. Olympus DAO’s determination to cut back its AURA publicity stems from changes in Olympus DAO’s technique.
Previous to the Balancer Holdings Ecosystem Replace, which outlines the implications for Aura Finance’s AIP-42, essentially the most environment friendly means for Aave DAO to introduce the GHO stablecoin is thru the usage of vlAURA versus veBAL.
The proposal specifies an preliminary dedication of 400,000 vlAURA models from the Aura Finance group for the preliminary 3-month interval. Nonetheless, it’s anticipated that assist from veBAL and vlAURA for the GHO group will steadily diminish within the following months. Consequently, the proposal goals to switch this diminishing assist by buying AURA tokens.
DAO is actively streamlining its treasury operations and intends to divest its AURA holdings via OTC channels. Using AURA through the vlAURA governance token is taken into account a extra environment friendly method for incentivizing liquidity in comparison with direct BAL token purchases.
GHO stands because the unique stablecoin of Aave, the main lending protocol throughout the Ethereum ecosystem, launched earlier this 12 months, garnering vital consideration.
GHO is poised to be collateralized by a number of tokens decided by the group, finally beneath the collective possession and administration of your complete Aave group, avoiding focus inside a selected particular person or entity.
GHO’s present platform facilitates collateralization of varied cryptocurrencies, together with DAI, USDC, AAVE, LINK, and ETH, permitting customers to borrow GHO, DAI, USDC, and LINK.
