Aave's GHO stablecoin, designed to maintain parity with the US dollar, has been trading below its $1 peg since its launch on the Ethereum Mainnet on July 15. The drop in demand for the stablecoin and its limited usage as borrowers cannot hold it for yield farming opportunities are cited as reasons for its inability to trade at its designed peg. On-chain analyst Tom Wan also noted that GHO has yet to see in-depth integration across decentralized finance (DeFi) protocols, which could be contributing to its depeg.

According to Whale Alert monitoring, 11.9 million CRV (approximately $7.636 million) were transferred to Aave from unknown addresses.

Aave's stablecoin GHO briefly lost its $1 peg on July 31, dropping to $0.96 before regaining its peg after about two hours. The depeg was likely caused by a reentrancy attack on Curve Finance, which also resulted in the platform losing over $47 million.

Aave's V3 lending protocol has attracted over 10,000 users in less than six months due to increased user activity. The value of assets locked (TVL) has grown by 60% since the launch of V3, reaching $6.12 billion at present. Aave's TVL growth has propelled it to replace MakerDAO as the second-largest DeFi protocol after Lido Finance.

Aave has overtaken MakerDAO as the second-largest DeFi protocol in terms of total value locked (TVL), according to DefiLlama data. This is due to a 15% drop in Maker's TVL since March 10, caused by the collapse of Silicon Valley Bank, the depeg of USDC and its DAI stablecoin, and a fall in DAI supply rates.

According to DeFiLlama, DeFi Protocol Aave officially launched its algorithmic stablecoin, GHO, on the main EtherNet on July 16, and has already minted $2.19 million worth of GHO.The GHO stablecoin is currently available to the public, and anyone can mint GHO using the assets they have offered as collateral on the Aave Protocol V3 EtherNet marketplace to ensure that GHO is over collateralized by multiple assets.

A crypto trader has made a profit of $427,000 in just one month by investing in the native tokens of major DeFi projects, including UNI, LDO, and AAVE. The trader did not trade memecoins, but instead capitalized on the bull run of crypto assets during the past month.

According to Curve, Curve has launched the GHO/crvUSD liquidity pool, with a total liquidity of approximately $300,000 as of the time of writing.

Peer-to-peer lending has become a popular alternative to traditional banking, allowing borrowers and investors to connect directly without intermediaries. This article highlights five decentralized P2P lending services, including Aave, which offers flash loans, and Compound, which uses an algorithm to modify interest rates based on asset availability and demand. MakerDAO is known for its stablecoin, DAI, and its decentralized governance architecture, while dYdX provides borrowing and lending features for derivatives trading. Fulcrum, powered by bZx, offers seamless integration of lending and margin trading services and uses decentralized governance through its native token.

According to Aave team, The highly anticipated AIP to deploy @GHOAave on the Ethereum Mainnet is now live. Voting opens in 24 hours.