Decentralized crypto lending platform aavefor network security ChainLinkProof of Reserve ( POR) will integrate the system.
In the crypto industry DAO the wind continues to blow. Decentralized anonymous organizations are attracting the attention of many crypto investors. DAO Their projects get reactions based on voting results from their communities. This makes investors feel more secure. One of these projects aave, DAO went to a new vote on the side. In this vote, improving network security came to the fore. Popular project to increase customer confidence ChainLink PoRwill integrate with.
Aave DAO Brings Chainlink Proof of Reserve Integration
Decentralized crypto project aave, to reduce the risk of attack on the network structure and project ChainLink‘of PORbrings the system.
In the new era that started with the bankruptcy of FTX, centralized exchanges made various moves for reliability. One of these moves is Proof of Reserve ( POR ) system. On the other hand, decentralized projects started to choose the same works.
aave, Avalancheto protect assets that are bridged to its network POR will start implementing the system. Although bridged assets provide various efficiencies, they can create many vulnerabilities. The aim of the popular lending platform will be to become a safe structure by preventing the risks that may arise from these vulnerabilities.
DAObidder on the side Bored Ghost Development, PORthinks its smart contracts will give Aaeve an extra layer of security. ChainLink Labsin PORresponsible for the marketing Max Melcher, “Utilizing Chainlink Proof of Reserve, Aave can verify that bridged assets accepted on the platform are fully collateralized before allowing users to borrow against them” said.