Aave, the decentralized finance (DeFi) platform, has experienced a decline in its Total Value Locked (TVL), causing a decrease in smart contract deposits. However, the TVL has seen a small increase of 1.28% in the last 24 hours. Despite this, Aave's token volume has dropped, indicating a decrease in actual transactions on the platform. Aave has also announced an approved proposal for a CRV token contract transfer to the Aave collector protocol.
The decline in TVL means that unique smart contract deposits into the eight chains operating under Curve had reduced. But at press time,At the time of writing, Aave’s treasury was worth 112.99 million. However, the token’s volume was nowhere near impressive at $77.87 million.
The decrease in volume indicated that actual transactions on the Aave protocol dropped. Meanwhile, Aave also noted that the approved proposal, which would be implemented in a short while, would involve a CRV token contract transfer to the Aave collector protocol. Its statement read, “In terms of implementation, this AIP initiates a transferFrom on the aCRV token contract to the Aave Collector, leveraging a previous approval from 0x7a16ff8270133f063aab6c9977183d9e72835428 of 5M aCRV tokens to the Aave DAO treasury .”
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