AAVE plans to expand its access to DeFi! When will the rise for the Altcoin begin?
AAVE had long become one of the most competitive fashion show protocols in the world. However, the $6 billion drop in its total value (TVL), which was locked in towards the beginning of this month, has knocked it out of its number one position. AAVE is slowly starting to recover, and last week, DeFi incorporated the idea of advancing the cause of its use.
AAVE & New Arc
AAVE Arc can basically be defined as an isolated virtual environment for organizations to fully experience DEFI and communicate it to their users. In this way, AAVE aims to help people understand how effective decentralized management and automated intelligent control-based execution protocols can be at this time.
In particular, the Arc will continue to be managed by Aave, but here the “white lists” play an important role. It is the custodians who provide all KYC and recruitment services in the Arc market. They also ensure the sustainability and safety of the Arc by checking which AIP needs to be approved. By doing so, they ensure that it does not interfere with their compliance obligations.
Reportedly, Fireblocks LLC was announced as the first firm to apply to be whitelisted. It is already a well-known name thanks to the enterprise MPC wallet that supports AAVE V2. This idea is a great advance for AAVE and DeFi in general. Basically, if the move is successful, we can expect several institutions to help DEFI achieve its goal.
However, the announcement has not yet had any significant impact on the network in any way. AAVE continues to perform poorly, as the altcoin is still on a downward trend and marks a decline of 21% this month.
This caused almost 75% of AAVE investors to suffer losses. While AAVE's volatility is at its lowest in a long time, its recovery will be slow.
Fortunately, the network continues to receive the support of its investors, who remain constantly active and keep transaction volumes on average around $100 million.