Aave Takes an ‘Important’ Step Towards Decentralization with the Handover of Governance Keys

2020-10-30 16:33

In what marks a historic moment, decentralized finance (DeFi) project Aave has officially handed over the protocol admin keys to the governance, which it calls “an important step towards decentralisation.”

Initially launched on Ethereum, LEND token holders were the ones with the governance. Now, about a month away, LEND holders voted for the first Aave Improvement Proposal (AIP) to migrate to the AAVE token at a rate of 100:1, “effectively jumpstarting the Aavenomics.”

The governance tokens were first distributed in a nearly $18 million token sale in November 2017.

Currently, LEND's migration is going on with the AAVE token now the new governance token of the protocol.

With a total token supply of 16 million AAVE, 13 million will be redeemed by LEND token holders, and 3 million will be allocated to the Aave Ecosystem Reserve.

Besides voting on AIPs, Aave holders can stake their tokens in the Safety Module and earn Safety Incentives in exchange for securing the protocol.

Aave protocol facilitates the issuance of “flash loans,” which has been described as the “first uncollateralized loan option in DeFi.”

Currently, the project is the 5th biggest DeFi protocol by the Total value locked (TVL) of $975 million, down from $1.7 billion on August 31st, as per DeFi Pulse.

Aave Live Price 1 AAVE/USD =28.6647 change ~ -11.71

Coin Market Cap

306.17 Million

24 Hour Volume

64.6 Million

24 Hour Change

-11.71 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~AAVE~USD");

The post Aave Takes an 'Important' Step Towards Decentralization with the Handover of Governance Keys first appeared on BitcoinExchangeGuide.

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2020-1-29 21:14


Ôîòî:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Ôîòî:

Ethereum’s Joe Lubin, says ‘were moving towards a world of decentralized Governance’.

Leading crypto industry figures weighed in on the major implications of cryptocurrencies for – and beyond – the global economy, at the Rise conference in Hong Kong Wednesday, July 11. The panel’s participants were the Ethereum Foundation’s co-founder Joseph Lubin, CEO of crypto merchant bank Galaxy Digital Mike Novgoratz, Crypto.com CEO Kris Marszalek, Tenx’s Julian

2018-7-12 21:36


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