U.S. based cryptocurrency exchange Kraken announced the listing of two new cryptocurrencies, MANA and AAVE. The assets will commence trading starting from December 15 at 13:30 UTC.
Both assets have recently encountered a fresh wave of interest. With the listing on Kraken, these cryptocurrencies have the potential to surge further in both price and demand.
While the digital assets are completely different in terms of what they offer, they still share the fact that both are traded now more than ever. Decentraland (MANA) is a blockchain protocol used for a virtual world on the Ethereum network where gamers can buy land and play with other users.
The project features an entire decentralized economy in which participants can trade NFTs, property, in-game items, collectibles, and much more.
On the other hand, Aave is a famous lending & borrowing protocol with one of the highest TVL. At the time of writing, Aave is third on the DeFi Pulse leaderboard with $1.71 billion in locked assets.
With a recent migration to a new token and governance model, Aave has attracted significant attention from the DeFi community. In the past 30 days, AAVE increased by 31%.
The lending protocol is known for being the first one to feature flash loans, a type of loan that requires no collateral. If the team resumes successfully developing its platform, AAVE will surely remain the dominant DeFi lending platform.
Apart from MANA and AAVE, Kraken will also launch KAVA staking. The token is available on Kraken since July 2020. As yet another decentralized lending platform, users will now have the chance to stake the KAVA token to receive rewards. What differentiates KAVA from other DeFi lending platforms is that the project is built on the Cosmos smart contract ecosystem, rather than Ethereum.
AAVE community to vote on new governance model
Aave is a cryptocurrency famous for rewarding its investors with the highest profits out of all digital assets. Formerly known as LEND, the token has a yearly return rate of 7468%. But the price is not supported by marketing or similar acts. Consistent activity and updates from developers have brought AAVE to where it is now.
As Defiye reported last week, the lending protocol will make yet another new step in revising its governance model. Submitted by the core developer team, AAVE token holders now have the chance to vote on a new governance proposal. If passed, the proposal would change the majority of the features.
For example, users would have the opportunity to vote on governance issues with tokens other than AAVE. Another suggestion is to introduce governance executors. These executors handle different parts of governance that focus on specific issues. While the first executor deals with the overall system of the former V1 protocol, the second executor has the admin privilege to even adjust the AAVE token itself.
If passed, such a system would bring considerably higher levels of decentralization than previously established. Furthermore, AAVE may become the most decentralized protocol in all of crypto. But will the community approve this complicated new system?