Aave Chan Initative is thrilled to announce the integration of fdUSD on Aave V3, specifically tailored for the new BNB Chain deployment. This strategic move exemplifies Aave DAO's unwavering commitment to delivering a diverse and efficient DeFi ecosystem to users worldwide.
Highlighting the longstanding history of collaboration, Aave DAO has a rich history of actively engaging with the BNB Chain ecosystem since the ETHlend days.
Launching on BNB Chain is a significant milestone for the Aave DAO and the broader Aave ecosystem. This strategic move is part of Aave's continued expansion to new chains this year, demonstrating a commitment to reaching and serving a broader audience of DeFi enthusiasts.
Moreover, the onboarding of fdUSD on BNB Chain on Aave V3 markets enables us to tap into BNB Chain’s massive user base and liquidity, enhancing the reach and impact of Aave's DeFi offerings.
Ecosystem partners have committed 3 million fdUSD as supply liquidity, further enhancing the liquidity pool and ensuring a vibrant DeFi marketplace on BNB Chain.
FDUSD is a stablecoin pegged to the US Dollar, and Aave is one of the first lending protocols to integrate this asset on BNB Chain. Users can now leverage fdUSD for various decentralized financial activities, including lending, borrowing, and yield farming, all from the secure and transparent deployment of Aave V3.
In parallel, the Aave Chan Initiative will be managing rewards for fdUSD borrowers, a proposal currently under governance vote and planned to start February 22nd. With an initial $30k of incentives for the first month of launch, this initiative aims to incentivize borrowing activities and promote the growth of the Aave ecosystem on BNB Chain.
Aave should shortly be integrated into Binance's Web3 wallet, bringing more users into the Aave ecosystem and expanding the reach of DeFi solutions on BNB Chain.
Marc Zeller, founder of the ACI, commented: “We are excited to welcome fdUSD to Aave V3 and launch Aave on BNB Chain. This integration opens up new possibilities for Aave users and Aave DAO aims to be a key protocol in the BNB Chain ecosystem. We believe this addition will contribute to the overall growth and adoption of DeFi”.
”We are excited to see Aave V3 launching on BNB Chain. We welcome them to our ecosystem of over 3 million daily active users and leading Total Value Locked (TVL), and look forward to watching them grow the DeFi ecosystem further. Additionally, the move will open up new avenues for users to access Web3 dApps, accelerating the vision of mass adoption.” said the BNB Chain Core Development Team.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that seeks to remove barriers to Web3 adoption. Powered by BNB, it includes the world’s largest L1 blockchain, the EVM-compatible BNB Smart Chain, and fosters a multi-chain ecosystem with BNB Greenfield and opBNB. Offering ultra-low gas fees and superior TPS, the BNB Chain ecosystem hosts thousands of dApps across DeFi, metaverse, gaming, SocialFi, NFTs and infrastructure, each of which add value to its ecosystem.
BNB Chain fosters impactful Web3 innovation with its BNB Chain Builder Support Program. This includes the MVB accelerator program, run in partnership with Binance Labs and CMC Labs.
For more, follow BNB Chain on Twitter.
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