$AAVE $USDC : Two Aave stablecoin backstops shrank $12.4 million as reward rates rose
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• Two tracked Ethereum V3 Umbrella stakes fell 9.7%, while their implied annualized reward run rate stayed near $2 million.
• Aave’s two tracked Ethereum V3 stablecoin backstops shrank by $12.4 million between Sept.
• 17 even as their extra reward rates increased.
• Together, the USDC and USDT positions held $116.09 million at the later observation, down 9.67% from $128.52 million.
• The positions belong to Umbrella, Aave’s system for using staked assets to absorb lending deficits.
#Aave #DeFi
Source - CryptoSlate
━━━━━━━━━━━━━━━━━━━━
• Two tracked Ethereum V3 Umbrella stakes fell 9.7%, while their implied annualized reward run rate stayed near $2 million.
• Aave’s two tracked Ethereum V3 stablecoin backstops shrank by $12.4 million between Sept.
• 17 even as their extra reward rates increased.
• Together, the USDC and USDT positions held $116.09 million at the later observation, down 9.67% from $128.52 million.
• The positions belong to Umbrella, Aave’s system for using staked assets to absorb lending deficits.
#Aave #DeFi
Source - CryptoSlate