Aave transfers governance to token holders
Aave’s core developers have transferred governance rights over to AAVE token holders, giving its community control over the future of the protocol. Aave has become the latest decentralized finance (DeFi) project to transfer governance rights to its token holders.On Oct. 29, Aave announced that the protocol's admin keys had been transferred from its core developers to governance communities under the command of holders of its native LEND utility token.“Today marks a historic moment for the Aave Protocol: we have officially handed over the protocol admin keys to the governance, an important....
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The outcome will give a good indication of where AAVE token holders stand ahead of the upcoming ETH hard fork. Aave token holders have been asked to take part in an Aave Request for Comment (ARC) that would require them to "commit" to Ethereum’s proof-of-stake (PoS) consensus.The ARC, proposed on Aug. 16, comes in light of Ethereum's upcoming transition to proof-of-stake. It calls for members to select the Ethereum Mainnet running under PoS consensus as the new “canonical” governance system, while also giving power to an authority to shut down any Aave deployments on any alternative....
Demand for LEND has surged dramatically over the last week as the token undergoes a rebranding. Aave, the non-custodial “DeFi” protocol, earlier launched its Aave Improvement Proposal (AIP1) to allow community consent over the migration from its governance token LEND to its rebranded avatar AAVE. In retrospect, the switchover attempted to take people’s opinions on the […]
"It's a major step forward in multi-chain governance systems," said the team at Aave. On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave (AAVE). According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, a proposal executed on Aave, which is built on the Ethereum (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then read the Ethereum data and passed it for validation on the Polygon network. Afterward, the Aave cross-chain....
The transformation of Aave’s native asset LEND into a new symbol, titled “AAVE,” has begun with a 25 percent price surge. In retrospect, the team behind Aave announced two weeks ago that it would transfer its ownership of the lending protocol to a “genesis governance” built following a community vote. The ayes came in favor […]
The voting snapshot occurred between Nov. 4 and Nov. 11 last year, engaging 2,911 members of the Aave community. Decentralized finance (DeFi) protocol Aave has announced the launch of Aave V3, marking a significant evolution on the existing model of liquidity pools by promising to improve financial efficiency, bolster current safety and security measures, foster greater decentralization via DAO development, as well as enhance the user-interface design.Holders of the project’s native tokens, AAVE, are eligible to participate in Aave Improvement Proposals (AIPs) – an on-chain governance....