Aave Community Approves “Long-term Executor” Voting Proposal to Recover Lost Tokens

03/11/2023 03:12 • Blockchain Buzz • 138 views

It is reported that the voting proposal of “long-term executor of the first phase of the rescue mission” launched by the loan agreement Aave community has been approved, with the proportion of affirmative votes exceeding 99.9%. Only one user uses a single AAVE token to vote against the proposal. This means that the tokens sent by the community members to the wrong address will be “rescued”. According to the proposal data, about $2.18 million of tokens will be recovered, including LEND, AAVE, UNI, USDT, stkAAVE, etc., of which more than 29188 AAVE tokens and 107 pledged AAVE tokens have a total value of about $2.16 million, but the proposal only recovers tokens worth more than $500. （Cointelegraph）

The “rescue plan” proposal of Aave DAO to save lost tokens was approved by 99.9% of the affirmative votes

Analysis based on this information:

Aave, a decentralized finance (DeFi) lending platform, has reported the approval of a “long-term executor” voting proposal that aims to recover lost tokens sent by the community members to the wrong address. The proposal has been approved by an overwhelming majority of the Aave community, with the proportion of affirmative votes exceeding 99.9%.

The only user who voted against the proposal used a single AAVE token. As a result, tokens including LEND, AAVE, UNI, USDT, stkAAVE, etc., amounting to about $2.18 million, are expected to be recovered. However, the proposal only recovers tokens worth more than $500, which means that not all of the lost tokens will be rescued.

The long-term executor of the first phase of the rescue mission will be chosen by the Aave governance, and their main responsibility will be to execute the recovery process. The proposal data shows that more than 29,188 AAVE tokens and 107 pledged AAVE tokens have a total value of about $2.16 million, indicating that AAVE tokens account for a significant portion of the lost tokens.

This decision reflects the efforts of the Aave community to maintain trust and transparency in the DeFi ecosystem. The recovery of lost tokens is crucial in ensuring the security and reliability of the blockchain network. The success of this proposal not only shows that the community is committed to protecting Aave users’ assets but also highlights the power of decentralized governance in the DeFi space.

In conclusion, the Aave community’s approval of the “Long-term Executor” voting proposal is a positive step towards the recovery of lost tokens. The proposal demonstrates the community’s collective effort to protect its users’ assets, reflects the power of decentralized governance, and enhances the trust and transparency of the DeFi ecosystem.

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