Summary of new progress of several DeFi OG projects

Author: Blockworks Research, compiled by: Golden Finance xiaozou

Recently, token prices of several DeFi OG projects have surged. Let’s take a deep dive into what’s new with these protocols and see what stands out from them all.

1**、Aave****——GHO**** Mainnet Release**

On July 14, the proposal to deploy the Aave stablecoin GHO on the Ethereum mainnet was approved. The initial debt limit is 100 million GHO with a borrowing rate of 1.5%.

There are two main drivers for the release of GHO:

Aave V3 Ethereum Pool - enables depositors to borrow GHO using their collateral.

FlashMinter - Support for GHO free flash loans to secure its stablecoin peg.

2**、Balancer****——Adjust the distribution of protocol fees**

The proposal seeks to align the parameters of fee distribution between core and non-core pools, facilitating a growth-oriented path. Currently, 65% of fees are allocated to veBAL voting incentives, leaving the remaining 35% to the treasury. However, due to the large stablecoin reserves in the vaults, there are now proposals to reduce the treasury fee for the pool to 17.5%. Its purpose is to divert funds to support voting incentives and passive veBAL fees.

In addition, Balancer is actively exploring a governance strategy that it hopes can use treasury funds as rewards for deploying Balancer on non-Ethereum networks. This step is critical to gaining a competitive foothold on other chains.

The deadline for voting on the proposal is July 24. At present, the proposal has received about 6,100 votes in favor, accounting for about 99.9% of the total votes cast. Quorum is set at 2 million votes.

3**、MakerDAO**

BlockTower Andromeda upgrade, smart burn engine deployment, scope definition parameter update, Spark protocol proxy spell execution, etc.

The proposal was passed on July 16 and prompted numerous updates. These include:

· Introduced multi-swap router, (multi-exchange router), which supports the selection of Peg Stability modules for transactions.

· Deploy a new intelligent burn engine.

The Dai deposit rate has been reduced by 0.30%, from 3.49% to 3.19%.

· Reduced stability fees and liquidation ratios for several ETH, wstETH, rETH, and wBTC vaults.

· Deprecation of the CRVV1ETHSTETH-A vault.

Freeze the sDAI market under the Spark protocol.

4**, Ribbon Finance**** — Merge Ribbon Finance**** with Aevo******

This aggressive proposal aims to integrate Ribbon Finance into Aevo by merging the product offering with the exchange, positioning Aevo as an integrated brand.

In addition, the native token RBN will be reduced, and token holders will migrate to the new token AEVO on the Ethereum mainnet at a ratio of 1:1. AEVO will be the governance token of the AEVO protocol and rollup. Major investors and teams will conduct a one-year token redistribution.

Voting will close on July 25. At present, the proposal has received about 13 million votes in favor, accounting for about 99.9% of the total votes.

Also, if you really want to improve, check out GovHub. All the important DeFi proposals are here, with Blockworks analysts commenting on their impact.