MyEtherWallet adds support for Ren and Aave DeFi protocols

by in Blockchain News


The MyEtherWallet (MEW) wallet is expanding its integration with Decentralized Finance (DeFi). On Thursday, August 13, the wallet developers announced the integration with the Aave and Ren projects - they will use the MEWconnect system.

MEWconnect is a wallet linking system that was designed especially for MEW (similar solutions can be found in other wallets that support decentralized applications such as Metamask and Coinbase Wallet). The system was originally designed to securely connect users of the MEW mobile app.

Currently, MEWconnect is used beyond the MEW app and allows users of other software and hardware wallets to connect to the Ethereum blockchain. The company says it does not want to tie users to a specific solution, as that is the overall goal of the Ethereum ecosystem. Kosala Hemachandra, CEO of MEW, expects other projects to follow Aave and Ren: "The MEWconnect API is very developer-friendly, and we hope many more projects will integrate the protocol soon."

Trending: SEC chief thinks bitcoin threatens US financial sector

Thanks to the integration, MyEtherWallet users now have a broader choice of lending options through Aave, as well as access to tokens from other blockchains through Ren bridges.

MyEtherWallet is one of the oldest Ethereum wallets in existence, which became very popular in the wake of the ICO boom in 2017.