The native token (AAVE) of Aave, a leading decentralized finance (DeFi) platform, has witnessed a very strong price increase, increasing by 18.05% in a day to $379. This comes following a new proposal to integrate a new cutting-edge oracle service from Chainlink, which could help users of Aave and the broader DeFi ecosystem.
The possible inclusion of Chainlink’s new oracle service, Smart Value Recapture (SVR), was recently discussed on the Aave governance forum. It is an oracle that aims to capture profits from a process called Maximum Extractable Value (MEV) to help DeFi protocols.
This involves restructuring and front-running transactions, and these profits have often gone to miners and traders in the past. However, SVR will redirect this profit for the benefit of DeFi protocols like Aave and users.
This has caused the price and trading volume of the AAVE token to increase and its market capitalization now stands at…
