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Aave protocol suspends Ethereum borrowing

Edition #33 - 04 SEP 2022

Aave community has voted in majority to approve the proposal to temporarily halt Ethereum borrowing until the Merge with immediate effect. The voting indicates the community agrees to pause Ethereum (ETH) borrowing to mitigate high ETH borrowing risks on Aave amid the Merge and Ethereum hard fork.

gaming developments

  • Gaming activity accounted for over 50% of blockchain activity in August, registering hundreds of millions of transactions;

  • Axie Infinity NFT sales volumes dip below $10 million for four consecutive months, sees declining unique buyers as well as average sale values;

  • Sky Mavis is preparing for the largest ever Axie community gathering in the first ever AxieCon held in Barcelona.

metaverses & Adoption


funding rounds

  • Proof, an NFT collective, raised a $50 million Series A round this week, led by a16z, with participation from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel and VaynerFund;

  • Limit Break, a web3 gaming company, completed its $200 million funding round led by uckley Ventures, Standard Crypto, and Paradigm Ventures, with other investors including FTX, Coinbase Ventures, Anthos Capital, SV Angel, and Shervin Pishevar;

  • Xterio, a web3 game publisher and developer, raises $40 million in a round led by FunPlus, Makers Fund, FTX Ventures, and XPLA. Other participants included HashKey, Foresight Ventures, Infinity Ventures Crypto, Matrix Partners and Animoca Brands.


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