First cross-chain governance proposal passes on Aave
"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....
Related News
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....
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....
The SafeSnap platform allows executing Snapshot governance votes automatically. Gnosis and Snapshot have collaborated to develop SafeSnap, a product that allows for automatically executing successful governance votes on Snapshot. The module, which combines features of Gnosis Safe Multisig and the Snapshot off-chain governance platform, was released on Tuesday.Snapshot is a “governance-as-a-service” provider for a number of decentralized finance projects, including Yearn.finance, SushiSwap, Balancer, Aave, Cream and others. It provides a simple interface to create governance proposals and....
Can governance token distribution help Aave overtake Compound? With a liquidity mining program set to launch on Monday, Aave could be on the cusp of becoming the dominant decentralized finance (DeFi) ledning protocol. Earlier today, Aave Improvement Proposal (AIP) 16 reached quorum, meaning that starting on Monday, 4/26 liquidity providers and borrowers in Aave’s USDC, DAI, USDT, GUSD, ETH, and WBTC pools will earn stAAVE rewards in addition to their standard interest yield.Per AIP 16, providers and borrowers in these pools will split 2,200 stAAVE tokens per day from the protocol’s current....
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....