Aave Developers Transfer Protocol Control to LEND Token Holders

DeFi Aave Project Developers Announce Transfer of Protocol Management Rights to LEND Token Holders. AAVE has become the largest protocol of decentralized finance with self -government.

Administrative keys to the protocol were originally in the hands of the AAVE team. However, now the project has reached that stage, когда управление протоколом можно переложить на плечи сообщества и сделать Aave по-настоящему децентрализованным. For this, administrative rights were transferred to the community of LEND tokens holders.

As part of the transfer of the protocol, the AAVE Governance smart contract was endowed with the rights of changing the parameters of the protocol and the properties of the main smart contracts AAVE, Including LendingPoolPooladdressProvider-the base smart contract of the protocol.

“Today is one of the most important stages of AAVE development: We officially transferred administrative keys to the protocol to the community. This is a very important step towards complete decentralization ", - They wrote
project developers.

After the transfer of the AAVE Project Management, Lend holders have already voted for one change. This is the launch of the possibility of LEND tokens in AAVE tokens in the ratio 100:1. In the future, this will transfer the protocol to control the holders of AAVE tokens.

Recall, that the AAVE protocol control system using tokens on the main network of the Ethereum was launched at the end of September. Currently, in the AAVE protocol, almost has been blocked $1 billion.