Consensys Taps Aave to Launch Stablecoin Yield in MetaMask Wallets
Main Idea
Consensys partners with Aave to launch 'Stablecoin Earn' in MetaMask wallets, enabling users to earn yield on stablecoins like USDC, USDT, and DAI through Aave's lending protocol without directly interacting with DeFi platforms.
Key Points
1. Consensys collaborates with Aave to introduce 'Stablecoin Earn' in MetaMask, expanding its offerings beyond staking into DeFi lending.
2. Aave is a leading decentralized lending platform with over $50 billion in total value locked (TVL).
3. The feature aims to simplify access to DeFi for retail users by embedding Aave's lending protocol into MetaMask, eliminating the need for direct interaction with DeFi protocols.
4. MetaMask and Aave also partnered on MetaMask Card, allowing users to spend yield-bearing aUSDC in real-world transactions.
5. Aave's native token (AAVE) recently saw a 14.76% price increase, trading at $291.78, with a TVL of $35.02 billion and a 24-hour trading volume surge of 52%.
Description
Consensys, the Ethereum-focused software firm , has partnered with Aave to integrate a new feature into MetaMask wallets , allowing users to earn yield on stablecoins like USDC, USDT, and DAI. In a press release shared with CryptoNews, the firm said the new feature called “Stablecoin Earn” will be powered by Aave’s lending protocol and will give MetaMask’s user base access to passive income without leaving the wallet interface. The feature expands MetaMask’s current offering beyond staking and i...
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