The Aave crypto community has unanimously voted for the implementation of the lending protocol on Ethereum's Layer2 chain, ZKsync. This and more news in this practical summary daily so that you are always informedwith events most recent that occur within the crypto world.
Aave will come to the L2 ZKsync network
📍With 100% of the votes, the Aave crypto community approved the deployment of the protocol on the ZKsync network. According to the governance proposal, this implementation will allow Aave to benefit from the scalability and cost-effectiveness offered by ZKsync's zk-Rollups.
The proposal notes that Ethereum's Layer 2 blockchain can help Aave offer faster and more efficient transactions, while reducing gas fees for users, without affecting security or decentralization.
Aave is one of the leading decentralized lending protocols in the Ethereum ecosystem, whose activity could be significantly boosted by the benefits of zk-Rollups.
Since the beginning of the year, Aave's total value locked (TVL) has doubled, highlighting the protocol's importance to deposit and lending activity on the blockchain.
Argentina is the 1st nation in the world to adopt the Bukele Model
📍Stacy Herbert, director of the National Bitcoin Office of El Salvador, announced that Argentina is the first nation in the world to adopt the “Bukele Model” and that there will soon be others to follow its example. In a post on X, Stacy Herbert expressed her enthusiasm for Argentina's interest in following Nayib Bukele's strategy to boost the country's development and growth.
The current Salvadoran president, who was re-elected with an overwhelming majority of votes and who has become one of the most popular politicians in the world, has turned El Salvador into one of the safest countries in the region. Furthermore, he has accelerated economic growth and innovation by adopting a unique strategy based on Bitcoin, the main cryptocurrency on the market. Due to this, El Salvador is now known worldwide as the Bitcoin nation, being the first country to recognize the cryptocurrency as legal tender and invest part of its treasury in BTC.
El Salvador has also been promoting several innovative projects as part of its goal to establish itself as a Bitcoin nation, a leader in sustainable crypto mining, investment and innovation.
According to Herbert, Argentina is the first nation to officially implement this security and innovation policy promoted and used by El Salvador and soon there will be others that also follow suit.
Recently, the president of Argentina, Javier Milei, favored the use of Bitcoin in the country. Responding to a series of questions related to Bitcoin on the X platform, Milei reiterated the free use of currencies in the country, including Bitcoin.
On the other hand, the Argentine bitcoiner community has been asking the president to mitigate the barriers that prevent the broader use of BTC, especially those related to regulations that tax capital gains from cryptocurrency operations.
“Cardano is waking up”
📍Charles Hoskinson, founder of Cardano, stated that his creation “is awakening” after referring to the impressive performance of Sundae V3. Hoskinson highlighted the performance of the third version of the Sundae exchange and staking protocol, based on the Cardano network.
Pi Lanningham, chief technology officer (CTO) of Sundae Labs, the company that develops the DEX protocol, highlighted the efficiency of the new protocol update, Sundae V3. In X, Lanningham wrote that Sundae V3 successfully processed 24 orders in a 9.264-hour period, of which 70% were processed in less than 1 minute. Likewise, the CTO of Sundae Labs noted that the majority of orders processed by the new iteration of the protocol, 90%, were executed in less than 221 seconds.
hoskinson responded to the data revealed by Lanningham stating that protocols like Sundae V3 highlight the true innovation of Cardano. Hoskinson also stated that in the coming years many more incredible technologies will come to its blockchain ecosystem, which is about to enter the Voltaire era, one of its final development phases and which will launch the decentralization of the network.
Hong Kong expands cryptocurrency access to retail investors
📍Hong Kong's financial regulator, the Securities and Futures Commission, authorized the company Tiger Securities to provide cryptocurrency services to retail investors. Previously, this company's services were limited to professional and institutional investors. However, in its effort to become a crypto hub of innovation, Hong Kong has granted Tiger Securities a new license allowing it to provide its services to retail investors, expanding access to cryptocurrencies and digital assets within the city.
Retail investors in Hong Kong can now reportedly access the market's leading cryptocurrencies, Bitcoin and Ethereum, through the services offered by the company.
Taiwan will allow investment in Bitcoin spot ETFs
📍Taiwan Financial Supervision Commission Chairman Jin-Lung Peng stated that the country is considering relaxing its cryptocurrency regulations and allowing the integration of new investment products. Specifically, the commission chairman referred to the possibility of allowing investment in Bitcoin spot ETFs abroad. He explained that the commission could relax its current regulatory framework to allow the listing of new cryptocurrency and digital asset products and allow investments in Bitcoin spot ETFs listed on overseas markets.
According to Jin-Lung Peng's statements, next month the commission will present more flexible regulations for innovation in the Fintech sector, while preparing a more complete draft that addresses the regulation of cryptoassets. The latter could be expected to be ready in December, according to the official.
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