Gate.io Will Support Aave Migration From LEND To AAVE

Announcements Gate.io Will Support Aave Migration From LEND To AAVE

2020-10-03 21:45:35 UTC 44876 Read

According to Aave team, Aave has enabled contract migration from LEND token to AAVE token, on the ratio of 100 LEND:1 AVVE. The new AAVE token holders can participate in Aave protocol governance based on their staking power. After the migration, the AAVE total supply will be 16 million, among which, 13 million tokens will be redeemed by LEND token holders, and 3 million will be allocated to the Aave eco reserve.

AAVE token contract: 0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9
Migration contract: 0x317625234562B1526Ea2FaC4030Ea499C5291de4

Read more at https://medium.com/aave/migration-and-staking-101-fe8fda3e2a30

Gate.io is going to suspend LEND deposit, withdrawal and trading on October 6th, at about 4:00 AM UTC to swap LEND to AAVE on the ratio of 100 LEND tokens to 1AAVE token. After swap, Gate.io will re-open deposit, trading and withdrawal services. If your LEND tokens are already at Gate.io you do not need to do anything in particular. If your LEND is not at Gate.io, You may deposit LEND to Gate.io before October 6th 4:00 AM UTC and we will help you complete the migration.

Deposit LEND at: https://www.gate.io/myaccount/deposit/LEND
Trade LEND at: https://www.gate.io/trade/LEND_USDT

Gate.io Team
October 4th, 2020

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