Strategic Partnership Announcement: Enhancing Operations and Revenue Distribution

Aave Eyes Chainlink Integration to Capture 40% of MEV Profits

In a bid to revolutionize the decentralized finance (DeFi) space, Aave, a leading DeFi protocol, has announced its plans to integrate with Chainlink, a prominent oracle network. The integration is aimed at capturing 40% of the Maximum Extracted Value (MEV), a crucial metric that measures the profitability of transactions on the blockchain.

According to reports, the collaboration will enable Aave to streamline its smart contract processes by eliminating intermediary contracts and reducing reliance on third-party vendors. By leveraging Chainlink’s decentralized infrastructure, Aave aims to bolster security and transparency in its operations.

As part of the deal, it has been agreed that 65% of the recaptured value would go to the Aave DAO (Decentralized Autonomous Organization) for a period of six months. This allocation is expected to benefit Aave users, particularly those participating in the Umbrella staking program. The remaining 35% will be allocated to the Chainlink community during the same duration.

It’s worth noting that Aave has seen its native token, AAVE, experience a significant surge in value. In the past 24 hours alone, the token price has risen by an astonishing 10%, bringing it to a total gain of 0.49% over the last seven days.

Source: www.crypto-news-flash.com