Last week was characterized by a lot of news in the DeFi world.
Summary
Aave towards V3
One of the most important ones was certainly the announcement of the opening of the voting for Aave V3, which is scheduled to end on 11 November.
Aave V3 includes updates that improve interoperability with the various supported chains.
The vote has only just opened, but a positive outcome is almost a foregone conclusion.
The price of the AAVE token has gained 2.6% in the last week, and in the last two weeks, it has gained 4.5%.
Another new feature involving Aave is Portal, which is an update that will allow tokens on one chain to be burned and recreated on other chains.
But it’s not just the Aave protocol that announced major news last week.
Stellar launches AMM
Stellar, for example, officially announced the launch of native Automated Market Maker (AMM) functionality on its protocol.
This makes Stellar by far one of the first tier 1 blockchains with a native functionality dedicated to AMMs. This functionality allows to freely create liquidity pools without having to create new smart contracts.
It is worth noting that transaction fees are very low on the Stellar network. The price of XLM does not seem to have been affected.
Curves and Convex on the rise
One DeFi token whose price has risen a lot is CRV, the DAO token of Curve, which has risen 26% in the last two weeks, and 50% in the last month.
Probably the most interesting news about Curve is related to Convex Finance (CVX), whose token has increased in value by 35% in the last two weeks, and 167% in the last month.
There is a controversial proposal in the works that could have repercussions in the future, so the news regarding Curve and Convex is not over.
DeFi, news drive up prices
Other DeFi tokens that have performed very well over the past week in terms of price are primarily LUNA (Terra) with +20%, LINK (Chainlink) and CAKE (PancakeSwap) with +11%. These are tokens from well-established projects that are growing and could have further room for growth.
MKR, the Maker protocol governance token that manages the DAI stablecoin, also performed very well, up 31%.
Among the smaller tokens, AMP (+26%), TIME (+37%) and especially LRC (Loopring) stood out, with a 146% increase in value over the last seven days alone. UMA also did very well with +52%.
