Aave Optimizes Ether Holdings and Expands DeFi Partnerships, VC Spectra Grants Access to Promising Projects, Fantom (FTM) Disappoints
In a strategic move to boost its revenue, Aave’s (AAVE) DAO has voted to migrate and optimize its idle ether holdings. Aave (AAVE) also aims to forge new alliances with other players in the DeFi industry. However, the market is not looking optimistic for all, as Fantom (FTM) suffers losses in value following hacking exploits in July. On the other hand, VC Spectra (SPCT) has started granting access to high-potential projects. The up-and-coming platform has already raised $2.4 million in seed and private sales.
Aave (AAVE) DAO Governance Aims to Increase Value and Build Bridges Across the DeFi Ecosystem
Recently, the decentralized autonomous organization (DAO) governance community of Aave (AAVE) voted to convert 1,600 ETH tokens (worth approximately $3 million) into wstETH and rETH. This move is intended to put idle assets to work and generate additional yield for the Aave (AAVE) ecosystem. Furthermore, it brings Aave (AAVE) closer to its goal of deploying an Ethereum Collector Contract. Through the Ethereum Collector Contract, Aave (AAVE) can pool its assets and choose from different yield opportunities in the DeFi space.
Aave (AAVE) is also working towards building relationships with other DeFi players. For instance, Aave (AAVE) has proposed to acquire Balancer Boosted Aave (AAVE) USD (BB-A-USD) and distribute its assets between Balancer and Aura Finance. These moves are paying off, as the price of Aave (AAVE) has increased by 37.8% over the past month, from $51.85 to its current value of $71.44.
VC Spectra (SPCT) Releases Funding Plans for Promising Blockchain Startups
VC Spectra (SPCT) is a decentralized hedge fund aimed at driving investment in the blockchain, DeFi, and fintech industries through strategic investments. As a blockchain investment platform, VC Spectra (SPCT) selects promising web3 startups and high-potential ICOs to invest in for returns. The platform also offers its users quarterly rewards and a share of profits from buybacks of profitable investments.
Currently, VC Spectra (SPCT) has started granting access to promising projects, and its investment funds are ready for these companies. At present, VC Spectra (SPCT) operates five investment funds, namely, Alpha Matrix Fund for high-potential projects; Quantum Ventures Fund for yield farming, lending, and staking investment activities; Eclipse Opportunity Fund for early-stage web3 startups; Arbitrage Fund for day-to-day timely trades; and finally, Nexus Fund for specific sectors in the crypto industry.
In view of this recent development, new blockchain companies can reach out to VC Spectra (SPCT) for funding and support. Not only that, crypto investors can choose which funds they want to invest in and get rewarded accordingly. Currently, the VC Spectra (SPCT) token is in the first stage of its presale, and it is selling for $0.008. When it finally hits the mainstream crypto market, the token will sell for $0.08 and deliver a 10x increase to its early investors.
Fantom (FTM) Turns Bearish After Multichain Bridge Hack
Going into the second half of the year, the crypto market was shaken up as cross-chain router protocol Multichain was hacked, resulting in losses of over $126 million. Out of the four exploited chains, Fantom (FTM) saw the worst losses at $118 million. Just a few days after this attack, Fantom (FTM) faced another challenge as hackers impersonated the Fantom Foundation on Twitter in a phishing scam.
As a result of these multiple attacks on FTM, Fantom’s investors are understandably spooked, and the price of Fantom (FTM) plummeted. After starting the month at $0.3187 on July 3, 2023, Fantom (FTM) dropped by 17% to $0.2618 in just four days. Analysts predict that Fantom (FTM) will continue its bear run and have advised Fantom (FTM) users to exit the ecosystem until the hacking issues are resolved.
Learn more about the VC Spectra (SPCT) presale here: