Demex Daily #227: Aave Labs Plans to Stabilize GHO Stablecoin with BlackRock's BUIDL Shares

What’s Interesting Today:

Aave Labs has proposed a new stability mechanism for its GHO stablecoin by using BlackRock’s tokenized fund, BUIDL, to maintain its dollar peg. The update suggests exchanging users' USDC for BUIDL shares that are held in a smart contract until redeemed. BUIDL, which pays monthly returns and has a stable $1 value per token, could enhance GHO's liquidity and market cap. This proposal, still under review, is part of Aave's strategy to integrate real-world assets and expand partnership opportunities, notably with BlackRock. The success of this proposal depends on the governance reaction from AAVE token holders.

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Esports team Complexity has entered into a sponsorship deal with Sonic Labs, the developers behind the new Sonic layer-1 blockchain network. As part of the agreement, Sonic Labs will be Complexity's exclusive blockchain sponsor and will feature on the team's jerseys. The partnership focuses on fan engagement, including hosting Counter-Strike 2 tournaments and game night events. Complexity also plans to develop a fan app on the Sonic network, offering interactive features and rewards for fans. The collaboration kicks off with a community event on August 30 and will integrate into Complexity’s activities, including an upcoming Counter-Strike 2 series in September.

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