{"id":165683,"date":"2023-09-30T12:32:26","date_gmt":"2023-09-30T07:02:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=165683"},"modified":"2023-09-30T12:32:26","modified_gmt":"2023-09-30T07:02:26","slug":"aave-poised-for-multi-chain-governance-overhaul-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-poised-for-multi-chain-governance-overhaul-crypto-news\/","title":{"rendered":"Aave Poised For Multi-Chain Governance Overhaul – Crypto News"},"content":{"rendered":"
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Aave, the top web3 lending protocol, is gearing up to overhaul its governance process.<\/p>\n

On Aug. 28, BGD Labs published<\/a> a plan for activating \u201cAave governance v3\u201d to the project\u2019s governance forum. Once activated, voting will take place through a new interface on the Polygon PoS and Avalanche networks to ensure low transaction fees, with the Aave DAO subsidizing the costs incurred by users participating in governance. <\/p>\n

Aave\u2019s governance upgrade will also activate on Ethereum to provide a backup network.<\/p>\n

\u201cAfter months of research, implementation, and security procedures, we are excited to announce that Aave Governance v3 [is] ready for activation,\u201d wrote BGD Labs. \u201cMost of the Aave smart contracts infrastructure will be affected by the activation of Aave Governance v3, as de-facto, all-controlled systems (and how they are controlled) will change.\u201d<\/p>\n

The upgrade will enable the use of aAAVE (AAVE tokens deposited into the AAVE protocol) as a voting asset alongside AAVE and stkAAVE. It will also launch the Aave Delivery infrastructure (a.DI) to facilitate cross-chain communication.<\/p>\n

BGD said all of Aave\u2019s infrastructure will be controlled by governance moving forward, with the a.DI solving past \u201ctechnical limitations.\u201d BGD estimated the migration process will take 21 days to complete. The upgrade will also reset all Aave governance delegates.<\/p>\n

Discussions regarding Aave governance v3 began<\/a> in January 2022, culminating in a proposal passed<\/a> via a formal on-chain vote in July.<\/p>\n

The price of AAVE is trending sideways despite the news, posting a 0.2% drawdown over the past 24 hours, according to CoinGecko.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Aave, the top web3 lending protocol, is gearing up to overhaul its governance process. On Aug. 28, BGD Labs published a plan for activating \u201cAave governance v3\u201d to the project\u2019s governance forum. Once activated, voting will take place through a new interface on the Polygon PoS and Avalanche networks to ensure low transaction fees, with […]<\/p>\n","protected":false},"author":2,"featured_media":105333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-165683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165683","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=165683"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165683\/revisions"}],"predecessor-version":[{"id":165684,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/165683\/revisions\/165684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/105333"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=165683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=165683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=165683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}