Open DeFi Notification Supports Aave
Open DeFi Notification supports Aave the biggest crypto liquidity protocol, with over $11B in TVL. Aave users can now set up a “Position Health” notification which will issue an alert when your position gets close to liquidation.
The Open DeFi Notification Protocol by defi.org and powered by Orbs is a community-led initiative to provide users with decentralized and free mobile notifications for on-chain events.
The Best Way to Monitor Your Loaned Assets
Aave is the largest lending & borrowing protocol on the Ethereum network, available also on many other major chains, including Polygon, Avalanche, Fantom, and more. Aave is a decentralized lending Protocol that allows users to lend, borrow and earn interest on crypto assets, for various activities and strategies across the DeFi space.
In order to borrow assets on Aave, borrowers must post collateral. Taking collateralized loans carries certain risks, primarily the risk of liquidation. Borrowers need to ensure that they do not cross their borrow limit, which can trigger the liquidation of their collateral.
Using the Open DeFi Notification Protocol, Aave users can set up a “Position Health” notification which will issue an alert when your position gets close to liquidation. In this way, users have 24/7 monitoring of their position status. They can take immediate action in order to mitigate the risk of liquidation.
A Notification Standard for Leading DeFi Projects
The Open DeFi Notification Protocol is an open initiative to provide users with decentralized and free mobile notifications for on-chain events.
Aave joins other top DeFi lending protocols, such as Venus and Alpaca Finance, supported by the Open DeFi Notification app, with liquidation risk notifications being one of the most popular use-cases by the app users.
The addition of Aave makes for an impressive lineup of leading DeFi projects. They have already been integrated into the Open DeFi Notification application. It is to give the benefit of its users, including Aave, Uniswap, SushiSwap, QuickSwap, PancakeSwap, etc.
All in all the app supports 20 protocols across 5 networks:
- Ethereum
- BSC
- Polygon
- Fantom
- Avalanche
DeFi.org recently launched a $100k developer grant program, in collaboration with DappRadar, focusing on teams contributing new projects to the Notification protocol.
ABOUT AAVE
Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers. Additionally, depositors can provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.
ABOUT Open DeFi Notification Protocol
The Open DeFi Notification Protocol is an open-source project allowing anyone to contribute and integrate notifications.
ABOUT Orbs Network
Orbs is an open, decentralized, and public blockchain infrastructure. Executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus.
