The native token of the blockchain platform Waves (WAVES) has risen sharply in price this week, as a new master plan to bring back confidence in decentralized finance (DeFi) on the network has been unveiled.
At 11:08 UTC on Tuesday, WAVES stood at USD 9.2, up 63% over the past 24 hours and up 61% for the past 7 days. However, the price is still down 85% from its all-time high (ATH), reached this March.
WAVES price past 14 days:
The recent gains come as the Waves network on Friday last week unveiled its “DeFi revival plan,” which it said intends to “make all Waves protocol users whole and restore full functioning of its ecosystem’s DeFi Protocols.”
A revival plan for DeFi protocols on the network has been seen as necessary for the Waves community, after two incidents in April left many Waves users with heavy losses, leading to a loss of confidence in Waves’ future as a chain for DeFi.
On April 2, the Neutrino Protocol’s stablecoin USDN lost its US dollar peg due to heavy selling of...
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