Gate Completed Migration From LEND To AAVE & Commence AAVE Trading

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 has now swapped LEND to AAVE at the ratio of 100:1 for LEND holders at Gate. View the record at “ My Billing Details”.

Gate will commence AAVE trading at 11:00 AM UTC, October 7th. Please note, the AAVE supply will be 1/100 of that of LEND. The face value of AAVE has become 100X higher relative to LEND. Please pay close attention to the price changes as AAVE trading opens. For your reference only: the external AAVE price of a few hours session is about 400 USDT.



Deposit AAVEE at: https://www.gate.com/myaccount/deposit/AAVE

Trade AAVE at: https://www.gate.com/trade/AAVE_USDT



Gate Team

October 7th, 2020



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