{"id":118580,"date":"2023-07-06T05:58:55","date_gmt":"2023-07-06T05:58:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/aave-token-holders-vote-on-proposal-seeking-conversion-of-1-6k-eth-from-protocols-treasury-crypto-news\/"},"modified":"2023-07-06T05:58:56","modified_gmt":"2023-07-06T05:58:56","slug":"aave-token-holders-vote-on-proposal-seeking-conversion-of-1-6k-eth-from-protocols-treasury-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-token-holders-vote-on-proposal-seeking-conversion-of-1-6k-eth-from-protocols-treasury-crypto-news\/","title":{"rendered":"Aave Token Holders Vote on Proposal Seeking Conversion of 1.6K ETH From Protocol&#8217;s Treasury\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>A new Aave proposal took place to decide the fate of $3 million in the protocol&#8217;s treasury.<\/p>\n<p>The holders of the Aave tokens will be voting on a governance proposal on whether 1,600 Ether, worth around $3 million, in the DeFi protocol treasury will be converted to wrapped staked ether (wstETH) and rocket pool ether (rETH).<\/p>\n<ul>\n<li>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.aave.com\/governance\/proposal\/?proposalId=261\" data-wpel-link=\"external\">proposal<\/a>, created on July 3rd, has received 252,152 affirmative votes out of a required 320,000 at the time of publication.  Aave token holders have until July 7th to vote.<\/li>\n<li>For the uninitiated, wrapped Staked Ether (WETH) and Rocket Pool Ether (rETH) are examples of staking derivatives that enable market participants to earn staking rewards.<\/li>\n<\/ul>\n<blockquote>\n<p>\u201cAave DAO currently holds 1,786.51 awETH (v2) and 104.548 units of ETH in the Collector Contract.  The awETH deposit yield in Aave v2 earns 1.69%, relative to 3.8% with wstETH and 3.13% with rETH.  This AIP converts all the unproductive ETH balance, along with aWETH (v2 and v3) into the same amounts of wstETH and rETH.\u201d<\/p>\n<\/blockquote>\n<ul>\n<li>Aave&#8217;s native token, AAVE, has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/aave-explodes-25-daily-eth-pushes-above-1-9k-market-watch\/\" data-wpel-link=\"internal\">recovered<\/a> significantly alongside the broader digital assets market over the past three weeks.<\/li>\n<li>It was up by more than 22% over the past week alone and was currently trading at $74.95.<\/li>\n<li>According to the latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/protocol\/aave?tvl=true\" data-wpel-link=\"external\">date<\/a> Compiled by DefiLlama, Aave&#8217;s TVL increased by nearly 60% from $3.74 billion in January to the press time value of $5.98 billion.<\/li>\n<li>While the recovery has been notable, Aave&#8217;a TVL was down by nearly 70% from its ATH of nearly $20 billion in October 2021.<\/li>\n<\/ul>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0; clear: both;\">\n<div><center><span style=\"font-size:11px; color: gray;\">SPECIAL OFFER (Sponsored)<\/span><\/center><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> ,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>,<\/p>\n<p><b>PrimeXBT Special Offer: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" data-wpel-link=\"internal\">Use this link<\/a> to register &#038; enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A new Aave proposal took place to decide the fate of $3 million in the protocol&#8217;s treasury. The holders of the Aave tokens will be voting on a governance proposal on whether 1,600 Ether, worth around $3 million, in the DeFi protocol treasury will be converted to wrapped staked ether (wstETH) and rocket pool ether [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":56866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-118580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118580"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118580\/revisions"}],"predecessor-version":[{"id":118581,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118580\/revisions\/118581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/56866"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}