$97,702.00
4.36%$3,410.17
5.85%$7.30
14.24%$2.28
9.05%$671.50
4.77%$190.38
3.98%$0.332228
16.96%$0.998969
-0.25%$0.939465
15.83%$3,405.23
6.00%$0.248666
5.87%$39.90
12.51%$23.45
11.65%$4,075.54
6.78%$5.41
8.78%$4.70
26.33%$0.00002274
15.30%$97,413.00
4.15%$0.370657
10.82%$32.80
37.60%$0.264105
5.47%$3,408.70
5.88%$463.39
14.10%$9.28
1.22%$13.63
15.48%$0.00001853
20.56%$102.39
11.46%$3,600.58
6.00%$5.27
10.60%$0.998361
0.02%$4.17
3.23%$10.36
-1.41%$0.998171
-0.18%$10.67
12.81%$315.82
10.93%$0.166324
11.12%$0.496705
13.43%$27.03
9.19%$1.20
12.12%$7.53
16.14%$0.04776258
16.80%$3.90
9.42%$193.31
10.77%$481.90
14.15%$24.45
-0.52%$1.34
11.89%$1.15
25.71%$0.790569
11.51%$0.124119
8.50%$5.15
10.98%$1.05
16.92%$0.349401
15.81%$45.65
5.59%$6.91
11.98%$2.68
21.08%$1.76
7.79%$1.79
12.67%$1.87
9.32%$0.00003297
25.63%$1.44
11.13%$5.28
14.22%$2.25
21.96%$0.991999
28.23%$22.00
12.97%$2.11
16.01%$0.219378
13.58%$3,420.98
8.09%$97,914.00
4.48%$0.03018984
24.14%$0.445899
14.35%$2.32
13.79%$5.28
10.73%$3,518.41
7.03%$3,825.13
6.25%$0.997601
-1.10%$0.00017612
14.56%$0.03513187
16.07%$115.91
14.37%$13.16
9.88%$3,584.10
5.37%$0.03762951
21.18%$1.76
17.41%$0.02775492
7.85%$18.96
10.53%$97,501.00
4.14%$0.02821606
22.47%$1,666.42
6.53%$0.589295
17.87%$3.33
-0.14%$0.998041
-0.28%$0.384303
13.57%$1.37
8.40%$97,661.00
5.57%$1.33
17.07%$0.230857
12.57%$11.22
7.49%$0.134936
14.74%$4.54
12.41%$0.84406
14.19%$3,506.34
6.04%$194.64
4.10%$6.99
11.68%$36.76
10.82%$1.64
17.90%$0.869309
11.31%$0.078174
20.30%$0.743176
13.14%$0.497922
9.63%$17.02
11.69%$0.311343
16.17%$55.36
10.48%$1.52
10.52%$0.960858
18.15%$0.0000011
10.44%$238.13
4.89%$0.847517
15.97%$1.13
9.87%$14.68
10.29%$6.51
18.22%$36.13
16.00%$0.495032
13.24%$0.497317
13.57%$96,745.00
3.43%$1.21
13.75%$97,116.00
4.15%$54.84
24.44%$5.28
19.96%$3,410.89
6.04%$3.98
3.94%$0.829237
-15.25%$0.00000214
2.26%$3.05
11.64%$0.088972
13.83%$3.29
13.09%$0.729951
24.42%$0.166049
11.90%$0.281326
12.29%$0.788696
14.46%$3,410.07
5.79%$0.637156
12.49%$0.998289
-0.12%$203.60
5.08%$84.06
14.73%$0.794921
40.90%$1.96
11.08%$2.46
10.54%$1.60
20.53%$3,407.21
5.73%$2.11
7.56%$0.00003604
10.66%$1.53
11.38%$21.80
11.47%$267.11
11.54%$0.332145
18.66%$0.00686734
15.84%$0.00811059
11.69%$0.772795
15.96%$0.184515
14.71%$0.00657491
11.10%$0.66587
9.39%$96,880.00
4.45%$0.662454
25.06%$2,623.84
0.39%$5.79
13.92%$0.993735
-0.74%$3,584.78
5.22%$0.01163421
18.54%$0.00
24.10%$0.00011371
17.67%$2.51
16.05%$3,695.73
6.20%$0.00870011
16.80%$19.30
19.48%$1.12
18.01%$0.00653592
15.72%$1.23
-9.88%$0.08521
12.01%$27.22
10.92%$0.274588
11.53%$3,413.05
6.01%$10.98
12.83%$0.40124
13.03%$1.34
24.16%$1.33
20.38%$0.077253
3.19%$1.018
-0.54%$98,199.00
5.01%$0.998596
-0.36%$14.33
24.59%$0.523228
26.36%$2,621.03
-0.02%$0.054017
33.79%$0.00000053
5.80%$96,736.00
4.88%$0.01124893
17.78%$1.53
9.99%$32.26
21.75%$8.89
-5.58%$3,422.37
3.23%$3,418.05
6.35%$4.95
10.84%$0.998477
-0.79%$0.449892
14.61%$0.00648638
28.69%$0.289181
53.75%$0.06231
12.46%$38.21
13.91%$0.06728
12.67%$0.00579802
20.02%$97,362.00
4.24%$0.00647749
12.93%$0.00251509
15.35%$3,562.38
5.70%$3,662.34
5.71%$1.055
-2.56%$2.11
11.84%$0.00102263
13.64%$0.02209932
16.77%$26.81
51.73%$3.24
8.02%$0.00000334
15.28%$0.072647
8.21%$0.231229
17.26%$5.24
6.05%$0.479742
12.45%$1.074
-1.45%$0.993937
0.06%$89.57
4.07%$0.214722
12.28%$0.998999
0.03%$2.50
12.15%$3,774.74
7.27%$0.687201
14.61%$0.00000018
9.27%$0.03841784
8.37%$3.49
13.71%$0.909996
9.44%$0.142746
7.26%$2.95
3.33%$47.21
13.63%$0.369113
64.56%$1.003
1.04%$0.03680096
13.95%$0.01091988
15.67%$0.750026
21.16%$0.366121
11.07%$0.36229
13.62%$3,413.63
5.96%
The Aave community is evaluating a proposal to integrate Coinbase's upcoming Bitcoin wrapper, cbBTC, into its V3 protocol.
The potential connection between a centralized exchange and a decentralized finance (DeFi) platform has ignited a debate about the future of DeFi and the balance between innovation and decentralization.
The proposal from the Aave Chan Initiative (ACI) would link cbBTC to both the Base network and Ethereum mainnet. The plan includes an incentive package of $150,000 over three months, funded by the Aave Merit program, to bootstrap liquidity and drive adoption.
“This synergy between a major centralized exchange and a leading DeFi protocol could attract more mainstream users to Aave, contributing to the overall growth and adoption of the platform,” the proposal notes.
DAO proposal to add @coinbase's cbBTC on Ethereum and @base to @aave V3 upon launch. Aave has become the preferred protocol for supporting Tier-1 asset launches. https://t.co/awQ22efItT
— Stani (@StaniKulechov) September 11, 2024
However, the proposal has met with mixed reactions from the community, with some supporting it as a step towards broader adoption and others expressing “significant concerns.”
“If cbBTC is primarily custodied by Coinbase, does this not introduce a single point of failure that represents a large risk to the credit worthiness of the asset?” one community member wrote.
The proposal comes at a time when Aave is expanding its offerings to adapt to the evolving DeFi landscape. Recently, the protocol activated a new Aave v3 market focused on wrapped Ethereum (weETH) and stablecoin liquidity, including assets like USDC, PYUSD, and FRAX. This move addressed the growing demand for weETH as collateral on Aave.
As the community debates the cbBTC integration, several key issues have emerged. The actual market demand for cbBTC remains a topic of discussion, with some questioning whether another wrapped Bitcoin option is necessary given the existence of alternatives like WBTC.
The proposal notes “ongoing changes with WBTC” as one reason for pursuing an alternative.
Security concerns have also been raised, with many emphasizing the need for thorough audits of the cbBTC smart contracts before any integration.
The regulatory implications of partnering with a U.S.-regulated entity like Coinbase have not escaped notice either, with some community members having called for a comprehensive legal analysis to ensure compliance and mitigate potential risks.
Coinbase declined a request for comment from Decrypt.
