Circles Chief Economist Gordon Liao has introduced a proposal to recalibrate Aaves USD Coin (USDC) interest rate model, aiming to resolve the ongoing liquidity crunch on Aave v3 Ethereum. The proposal comes after USDC utilization surged to nearly 100%, leaving less than $3 million in available liquidity and triggering concerns across the decentralized finance (DeFi) market.
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