LEND → AAVE Migration is live!
The time has come to migrate to AAVE.
As a part of our collaboration with Aave, 🔥_🔥is happy to present this guide for the AAVE migration. The AIP01 proposal marks a pivotal turning point for the Aave protocol, and one we’re eager to support as avid users and governance participants.
The launch of AIP01 marks significant changes to the Aave ecosystem; primarily migrating from LEND to AAVE as well as the introduction of AAVE staking via the Safety Module. Aavenomics also includes safety & ecosystem incentives, decentralized governance, and the consolidation of AAVE tokens at a rate of 100 LEND:1 AAVE.
Here’s everything you need to know:
To get started, hop into the Migration Portal and visit Aave’s Staking 101 guide for a step-by-step guide on how to complete the migration!
Migration and Staking 101
The voting period for the first Aave Improvement Proposal (AIP1) has ended, with overwhelming votes in favour of the…
The token transition activated by AIP1 allows LEND to be deposited into the Migration Portal and receive freshly minted AAVE tokens. From here, users can stake directly into the Safety Module to start earning AAVE rewards.
The Future of 🔥_🔥 x Aave
🔥_🔥 is excited to participate in governance and the future development of the Aave ecosystem. As a leading DeFi money market, the V2 upgrade is one that solidifies Aave as a pillar of the next generation of finance.
We look forward to a successful migration and the start of Aavenomics!
As we continue working with teams to help incubate community-first ecosystems, we’re optimistic that the next 12 months will bring about the most interesting experiments Ethereum has seen to date.
If you’re a project or an individual keen to get in contact, please reach out to one of us on Twitter! DM’s are always open 🦄
Until then, keep an eye out for 🔥_🔥 on one of the many governance forums coming to a community near you!