According to Aave team, Aave has enabled contract migration from LEND token to AAVE token at the ratio of 100 LEND : 1 AVVE. The AAVE token holders can participate in Aave protocol governance based on their staking power.
BW.com will support the Aave (LEND) token swap to AAVE, with the following timeline:
1. We have suspended LEND deposits and withdrawals and begin the token swap.
2. At 2020/10/12 18:30(UTC+8), we will remove trading pair LEND/USDT and the system will automatically cancel the unfinished orders and the relevant assets will be returned to your trading account.
3.BW will take a snapshot of all LEND balances and begin the distribution of AAVE to all eligible users at a ratio of 100 LEND = 1 AAVE.
4. Please pay attention to following announcement for the reopen time of deposit /withdrawal and trading.
Please note the AAVE supply will be 1/100 of that of LEND. The value of AAVE has become 100X higher relative to LEND. Please pay close attention to the price changes as AAVE trading opens.
For further information on the token swap, please refer to https://medium.com/aave/migration-and-staking-101-fe8fda3e2a30.
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BW, Bit World, Better World
BW.com Global Operations Team
Oct 12, 2020