#Aave attempts to increase revenue through mining.#
Hot Topic Overview
Overview
Aave is looking to boost protocol revenue through Bitcoin mining. Blockware Solutions, a Bitcoin mining service provider, submitted a governance proposal to Aave suggesting the use of Aave funds to purchase the latest S21XP mining rigs, which are projected to generate a net annualized return of 33.03%. The proposal is currently in the initial discussion stage, with Aave token holders considering the proposal and deciding whether to pass it. The proposal argues that now is an ideal time to enter Bitcoin mining, as the price of mining rigs has fallen back to the $3,000-$4,000 range, offering a significant advantage compared to the high point of over $15,000 during the last bull run.
Ace Hot Topic Analysis
Analysis
Aave is attempting to increase protocol revenue through Bitcoin mining. Blockware Solutions has submitted a governance proposal to Aave suggesting the use of Aave funds to purchase the latest S21XP mining rigs, which are expected to generate a 33.03% net annualized return. The proposal is currently in its initial discussion stage and if passed, Aave would delegate managed mining services to Blockware Solutions. The proposal argues that the current price of Bitcoin miners has fallen back to the $3000-$4000 range, offering a significant advantage compared to the $15,000+ peak during the previous bull run, making it an ideal time to enter Bitcoin mining. The proposal aims to generate stable revenue for Aave's treasury and accelerate the adoption of Aave's stablecoin.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Aave can increase protocol revenue by mining Bitcoin and generate stable annualized net returns for Aave's treasury.
Currently is an ideal time to enter Bitcoin mining, the price of mining rigs has fallen back to historical lows, which has a significant advantage compared to the last bull market.
Blockware Solutions will provide Aave with managed mining services, and is expected to achieve a net annualized return of 33.03%.
Aave is considering mining to increase revenue and accelerate the adoption of Aave stablecoins.