Yesterday, the largest OG DeFi protocol in the Ethereum ecosystem, the AAVE community, passed a governance vote to approve the addition of $Pepe to the AAVE ecosystem as an independent collateral asset for lending.
The vote lasted 3 days with a 76.76% approval rate. The proposal initiator, XG177, disclosed that he is a major holder of $20 million worth of $AAVE tokens, but he is not a Pepe holder.
The proposal was able to pass in AAVE governance because introducing Pepe as a collateral asset can attract millions of Pepe holders as depositors and borrowers, bringing more revenue to the AAVE protocol and enriching users' asset choices.
AAVE does not support many assets, and Pepe is the only meme coin. This also represents the Ethereum community's recognition of $Pepe as a core asset.
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