Aave

Switch

Token

Reported by Cointelegraph, a proposal may be in the works at the decentralized lending platform Aave deliberating the activation of a ‘fee switch’ to distribute fees to holders. This was shared by Aave Chan Initiative founder Marc Zeller on the X social platform.
Zeller <a rel="noopener noreferrer nofollow" target="_blank" href="https://x.com/lemiscate/status/1776638305540476992">said</a>, “Temp check to activate ‘fee switch’ next week,” after noting that Aave decentralized autonomous organization (DAO)’s current net profits total about $60 million per year, reflecting five years of operational costs.
Aave is a crypto lending platform that runs on multiple blockchain networks. It allows borrowers to take out loans in one cryptocurrency while depositing another as collateral. It is governed by holders of the Aave token, who collectively form AaveDAO.
In a prior post on the X social platform, Zeller <a rel="noopener noreferrer nofollow" target="_blank" href="https://x.com/lemiscate/status/1768934851338469608">hinted</a> at the possibility of implementing fees for Aave stakers. On March 16, he wrote, “A new iteration of the safety module will suggest distributing fees to stakers.”
The fee switch will allow governance to control and adjust fee-related policies based on the platform’s needs and objectives. Aave DAO recently greenlit alterations to staking fees for<a rel="noopener noreferrer nofollow" target="_blank" href="https://cointelegraph.com/news/aave-protocol-launch-stablecoin-gho-ethereum-mainnet"> its stablecoin GHO</a> to maintain the token’s peg. If Aave DAO proceeds with fee activation, it will emulate Frax Finance, which recently <a rel="noopener noreferrer nofollow" target="_blank" href="https://snapshot.org/#/frax.eth/proposal/0x9ec68015d6f6fd185f600a255e494f4ff926bbdd9b268f4bd712983a6e68fb5a">endorsed</a> a proposal to reintroduce its fee switch.

Aave Proposes to Implement a Fee Switch to Distribute Fees to Token Holders

TokenInsight

Другие статьи, опубликованные 8 апр. 2024 г.

JPMorgan CEO Says AI is the Most Important Issue Facing the U.S. Largest Bank

Analysts Believe Whales Dumping Ripple (XRP) and Cardano (ADA) Are Later Buying This Small-Cap Token

Renowned Analyst Reveals 5 Altcoins to Watch Closely This Week

Wormhole Price Prediction: W Plunges 40% In A Week As Traders Send Over $10 Million In SOL To New...

Whales Spark Ethereum Frenzy As $35M Buying Spree Sends Prices Soaring

Altcoins Hotlist: Expert Identifies Top 6 Coins To Track Amid Bitcoin’s Rise To $72,000

Join our free newsletter for daily crypto updates!