lend-$ghost The migration course of has been a long-standing subject of debate throughout the Aave ecosystem, and is sparking new debate.
Aave Labs’ new proposal, which unexpectedly progressed to the AIP (Aave Enchancment Proposal) stage, attracted consideration as a result of it gave LEND token holders a restricted time period.
In response to the data shared, customers who at present maintain LEND tokens have solely 5 days to transform their LEND tokens into tokens. $ghost. Customers who don’t full the conversion inside this era could fully lose the appropriate to modify and their remaining LEND tokens could grow to be nugatory.
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The proposal additionally features a full finish to LEND.$ghost Switch contract, unspent funds and remaining tokens/issuance to the Ecosystem Reserve. Aave Labs says this step is aimed toward lowering the operational burden on the system and simplifying integration.
Nevertheless, this course of has brought on controversy throughout the neighborhood. Some members criticized the timing of the transition, which that they had beforehand supported, for being carried out “in a single day” and at a time when the DAO’s possession construction is present process modifications. Criticism facilities on the timing of the choice and whether or not it gave customers sufficient time to organize. In the meantime, it’s estimated that round $30 million value of LEND tokens are nonetheless in circulation at present market costs.
*This isn’t funding recommendation.
