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Maker and Aave's Ethena Feud

Aave stirs up a fight over Maker's increasing USDe collateral.
Maker and Aave's Ethena Feud
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Over $500 million in ENA was just distributed to eligible claimants through Ethena’s first round of airdrops, but contention over the protocol is reaching a fever pitch on Crypto Twitter. Why are two bluechip DeFi protocols now embroiled in conflict over Ethena?

Yesterday afternoon, a governance proposal hit the Maker forum asking delegates to consider increasing the capacity of recently established USDe and sUSDe lending facilities on Morpho from 100 million DAI to 600 million DAI, with the ability to extend the line to up to 1 billion DAI and the majority of funds set to be lent out at relatively high loan-to-value (LTV) ratios of 86% and greater.

Scaling up the Morpho Vault. pic.twitter.com/LmJsfwPXZa

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Jack Inabinet

Written by Jack Inabinet

498 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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