CJ - Cryptocurrency Specialist
Aave (AAVE), an early DeFi protocol that enables decentralized non-custodial borrowing and lending, is now set to deploy on the Metis Andromeda Network after a successful vote. The move aims to attract more mainstream users and tap into a bigger market opportunity in crypto lending. Aave, which was originally called ETHLend and founded by Stani Kulechov in 2017, has been growing across a variety of different blockchains, including Ethereum, Polygon, Avalanche, Arbitrum and more.
The integration of Metis and Aave is expected to diversify users' DeFi investments and offer alternative lending and borrowing protocols, benefiting the DeFi ecosystem significantly. Aave's popularity and profitability have made it a fundamental component of DeFi, causing changes in the TVL of other ecosystems. For instance, lending protocols such as Compound and MakerDAO have experienced a decline in TVL since Aave's launch, as Aave offers consumers a greater selection of assets to borrow and lend against at better interest rates.
Aave's composability has made it possible for it to establish itself as a fundamental component of the DeFi ecosystem, and this integration is set to unleash greater benefits to users across the ecosystem, including more yields, capital efficiency, protocol safety, decentralization and user experiences. Aave’s TVL is expected to increase further once Aave launches on the Metis Andromeda Network.
Overall, this integration marks a significant milestone in the DeFi and layer 2 ecosystem, with a whole new level of diversifications set to emerge as a range of new DeFi products and services will be made possible. Users will now be able to spread their risk, diversify their DeFi investments and benefit from greater yields, capital efficiency, protocol safety, decentralization and user experiences.
To learn more about the DeFi and cryptocurrency investment industry, visit BC Bitcoin. Operating since 2017, BCBitcoin is a leading cryptocurrency broker offering a wide range of crypto assets, including Bitcoin, Ethereum, and other altcoins, with competitive prices and exceptional customer support.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards