The core developers of AAVE tokens transferred voting rights to token owners, giving the community power over the protocol.
On the 29th of October, Aave stated that the program's administrative keys had been moved from its leading designers to government groups under the control of its original LEND coin owners. This is a significant time for the program, as the official transfer of the program's administrative keys to the government is a substantial move to decentralization.
Major Updates:
- The group voted in support of transferring the government rights of the protocol to AAVE owners.
- LEND holders can redeem 13 million of AAVE's 16 million supply.
- The remaining token balance will be reserved.
- Owners of AAVE can offer their coins can also stake their coins on Balancers.
Aave started in Jan. 2020, becoming a major decentralized finance program as the area began to heat up around the middle of this year.
