Aave DAO is moving forward with a plan to offboard BUSD by souring the markets for borrowing and lending the stablecoin. realDannyNelson reports
“Feel free to switch to other stablecoins in Aave,” Zeller, an active member of Aave governance, said inmarket participants have backed away from Binance’s dollar-pegged stablecoin amid regulatory uncertainty. Zeller wrote in his proposal that the circulating supply of BUSD will trend “towards zero over time,” making its offboarding necessary.Aave froze its middling BUSD markets in anticipation of the upcoming on-chain vote.
At press time, Aave held nearly $11 million in BUSD liquidity from lenders and had $7.6 million in the stablecoin loaned out.
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