Aave

Switch

Gains

<ul>
 <li>AAVE’s surge is linked to founder Marc Zeller’s proposal for a fee switch and token buyback.</li>
 <li>The proposal includes replacing “seize and sell” with “seize and burn” using GHO and aTokens.</li>
</ul>
AAVE, the native token of the Aave protocol, has risen to the top five gainers among the top 100 cryptocurrencies, owing to the newest proposals from its founder. At the time of writing, AAVE is trading at $101.68, up 15.25% over the last 24 hours after a 10-day correction. Currently, whales own 62.18% of all circulating tokens.
<h2 id="strong-aave-outshines-competitors-with-the-founder-s-new-proposal-and-efficiency-boost-strong">AAVE Outshines Competitors with The Founder’s New Proposal and Efficiency Boost</h2>
This outstanding performance has put the token ahead of its competitors, including Maker (MKR), Compound (COMP), and Yearn Finance (YFI). Marc Zeller, the AAVE Labs founder, has made a fresh proposal, which has sparked more interest in it. Marc’s proposal attempts to initiate a “fee switch” and “buy back tokens” from the open market.
With Umbrella, it replaces the “seize and sell” ideology, which is harmful to peg, value, and efficiency, with a “seize and burn” doctrine based on GHO and aTokens.
With the deprecation of StkBPT, the AAVE Liquidity Committee is taking the lead on <a style="color: #008000;" href="https://www.crypto-news-flash.com/the-aave-community-on-the-road-to-expansion-in-solana-proposal-evaluation-for-neon-evm/" rel="noopener noreferrer nofollow">AAVE’s</a> secondary liquidity, leveraging its expertise with GHO. The goal is to automate the process as much as possible. A significant boost in efficiency is projected.
Furthermore, this proposal opens the Aave protocol to “restaking,” which allows third-party protocols and networks to improve user safety by leveraging Aave’s risk management expertise and significant liquidity.
Previously, CNF <a style="color: #008000;" href="https://www.crypto-news-flash.com/aave-labs-maps-out-protocol-v4-prioritizing-gho-stability-and-cross-chain-liquidity/" rel="noopener noreferrer nofollow">reported</a> that Aave Labs is upgrading its protocol from V3 to V4, with the goal of improving the native stablecoin and prioritizing cross-chain liquidity design. The upgrade to V4 is part of their 2030 vision.
Meanwhile, analyst Poseidon has expressed optimism about the token’s performance. As we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/can-aave-reach-500-crypto-analysts-predict-strong-rally-ahead/" rel="noopener noreferrer nofollow">noted</a>, the analyst believes that the token’s recent bullish momentum might propel it to $500.

AAVE Gains Momentum: Fee Switch and Token Buyback Proposals

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Crypto News Flash

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