On August 5, the lending platform Aave recorded a record daily revenue of $6 million. This significant profit was the result of massive liquidations of positions on the platform, which totaled $350 million.
Aave’s founder, Stani Kulechov, noted that the platform successfully withstood significant market turmoil, securing $21 billion in user assets. At the same time, the protocol’s treasury received a significant profit thanks to the debt liquidation mechanism.
For example, the forced closure of a $7.4 million position in Wrapped Ethereum (WETH) generated $802,000 in revenue for Aave.
Read the original article – https://forklog.com/news/aave-za-sutki-zarabotala-6-mln-na-likvidatsiyah-iz-za-padeniya-kriptorynka.
