Aave Launches Stablecoin, Fantom Project Hacked, Tradecurve Revolutionizes Trillion-dollar Industry

The post Aave Launches Stablecoin, Fantom Project Hacked, Tradecurve Revolutionizes Trillion-dollar Industry appeared first on Coinpedia Fintech News

The cryptocurrency market is a hive of activity. Aave (AAVE) has launched a new stablecoin, while Fantom (FTM) has suffered a significant setback with a hacking incident. Meanwhile, the newcomer, Tradecurve (TCRV), is selling millions of tokens during a presale due to its potential to revolutionize the trillion-dollar trading industry. Let’s take a closer look!

Aave (AAVE) Launches Stablecoin: Expanding DeFi’s Horizon

Aave, one of the leading DeFi protocols, continues to make strides in the industry by introducing its own algorithmic stablecoin, GHO. The GHO stablecoin is pegged to the US dollar and has already seen substantial activity since its launch, with over $2.19 million worth of Aave’s GHO minted on the Ethereum mainnet.

Unlike traditional stablecoins, which are usually backed by a single asset like the US dollar, Aave (AAVE)’s GHO is supported by a multitude of digital assets, including Ether, the native currency of Ethereum, and the Aave token itself. This approach provides additional security and stability, as the stablecoin’s value isn’t reliant on a single asset.

One of the unique aspects of GHO is the ability to verify the assets used to back it. Aave ensures that the details of all the digital assets that back GHO are accessible and can be checked via on-chain data. This adds credibility to Aave’s new entrant into the DeFi space.

Fantom (FTM) Project Gets Hacked: Addressing Security Concerns

A recent exploit on Multichain’s Fantom bridge has resulted in a significant loss of funds. Attackers reportedly made off with at least $126 million in various cryptocurrencies and stablecoins, including Ether and the Fantom token.

The recent security exploit on the Fantom bridge has had a dramatic impact on the platform’s total value locked (TVL). It’s a vital indicator of the health and growth of DeFi protocols. Fantom’s TVL has plummeted from above $200 million before the incident to just $65 million today. This is according to DeFi analytics platform DeFiLlama. 

Fantom’s creator, Andre Cronje, has acknowledged the severity of this incident. He described it as a “massive setback” for the Fantom project. Pricewise, Fantom has fallen from $0.31 to a current price of $0.25. This is as holders contend with the significant loss of funds.

Tradecurve (TCRV) Revolutionizes Trillion-dollar Industry: Disrupting the Norm

Tradecurve is pioneering a hybrid model that marries the advantages of both centralized and decentralized exchanges. Users of Tradecurve can enjoy a safe environment that promises low latency, high liquidity, and minimal trading fees.

Not only does Tradecurve cater to crypto enthusiasts, but it also opens the door for traders to invest in a plethora of financial instruments like forex, commodities, and stocks. With a simple one-click process, trading across various asset classes becomes seamless.

Tradecurve further sets a new industry standard by introducing KYC-free trading, ensuring users’ anonymity and security. Traders need not submit any personal information, thereby keeping their identity protected while accessing the platform’s plethora of features.

Tradecurve’s native token, TCRV, is in the fifth phase of its presale, where it is available for an appealing $0.025 per token. 

Tradecurve’s formidable challenge to traditional exchanges has stirred considerable attention. Analysts are now commenting that Tradecurve has the potential to take over from the likes of Binance and Huobi, with TCRV hitting $1.00 once the mainstream public takes note.

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