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August 25, 2023, Brazil. In this photo illustration, the Chainlink (LINK) logo is displayed on a smartphone screen
Aave Eyes Chainlink Integration to Capture 40% of MEV Profits
Aave, a leading decentralized finance (DeFi) protocol, is considering integrating with Chainlink’s Smart Value Recapture (SVR) solution in order to capture 40% of the maximum extractable value (MEV). The move aims to benefit Aave users by incentivizing Umbrella stakers who help manage protocol risk.
According to sources familiar with the matter, the integration plans will enable Aave to leverage Chainlink’s proven decentralized oracle network infrastructure. This strategic partnership would allow Aave to streamline smart contract processes and reduce reliance on third-party vendors, ultimately reducing risks for users.
As part of this collaboration, 65% of the recaptured MEV would go towards benefiting the Aave DAO (Decentralized Autonomous Organization), while 35% will be allocated to the Chainlink community. This split is expected to remain in effect for at least six months before undergoing changes pending approval from Aave’s governance.
This innovative move highlights Aave’s commitment to transparency and decentralization, as well as its willingness to explore opportunities that could benefit users and the wider DeFi ecosystem.
Source: www.crypto-news-flash.com
