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Crypto

Bitwise CIO says token buybacks and burns could drive crypto values sharply higher

A structure that directly links protocol revenue to token buybacks and burns could at least double cryptocurrency values, Bitwise CIO Matt Hougan said. He said the non-bitcoin market is being reshaped around network revenue, but investors have not fully priced in the shift. Hougan cited Hyperliquid, Uniswap and Aave as examples and said the model could spread across DeFi applications and layer-1 networks in 12 to 24 months.

Crypto

Aave tops $100 million in deposits on Monad two days after launch

Decentralised lending protocol Aave has surpassed $100 million in deposits on the Monad blockchain, The Block reported on Friday, citing TokenLogic. The milestone came two days after Aave began services on Monad. Monad is an EVM-compatible layer 1 built by former Jump Trading developers. Monad’s total value locked stood at about $359.5 million as of June 8. The deposits include incentives from the Monad Foundation and Aave DAO.

Crypto

Aave deploys V3 lending protocol and launches GHO stablecoin on Monad

Aave has deployed its V3 lending protocol on Monad and begun supporting 12 assets, including the GHO stablecoin. The Monad Foundation plans to provide $15 million in incentives during the first 12 months after service activation. The deployment applies Chainlink Smart Value Recapture from the start, returning part of value generated during liquidations to the protocol. The Monad Foundation will buy 10 million GHO and hold it for at least six months.