Circle Economist Proposes 50% Rate Ceiling to Snap Aave’s USDC Liquidity Crisis

In brief

• An economist at USDC issuer Circle proposed an emergency overhaul of Aave’s lending mechanics, advocating for a 50% maximum borrowing rate.
• Making Aave an “irresistible destination” for capital should alleviate a liquidity crisis that has left stablecoins trapped in the DeFi giant…