Aave token holders will vote for the new DAO proposal. We are talking about converting 1600 ETH from the treasury of the protocol into “wrapped ethers”. At the current rate, this is $3 million worth of funds. They are offered to be converted into Lido Finance (wstETH) and RocketPool (rETH) derivatives.
The proposal was created on July 3rd and voting will run until July 7th.
“Aave DAO currently owns 1,786.51 awETH (v2) and 104,548 ETH in the Collector Contract. The awETH deposit yield in Aave v2 is 1.69% compared to 3.8% for wstETH and 3.13% for rETH. This AIP converts all unproductive ETH balance along with aWETH (v2 and v3) into the same amount of wstETH and rETH.”
Meanwhile, the price of Aave rose nearly 60% on June 16th. Moreover, 32% of this growth occurred in the last week.
Ethereum coin, supplied by liquidity providers, is one of the most popular assets in the Aave lending protocol. Ether accounts for 32.2% of the total value locked (TVL). TVL AAVE V3 hit a five-month high of $831.82 million the other day.
Yesterday it became known that Lido Finance has staked all the ETH from its treasury. And this despite the controversial statement of Vitalik Buterin. Recall that the creator of Ethereum considers staking risky due to the vulnerability of smart contracts. Therefore, Buterin stakes small amounts.
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