News/Aave to Convert 1,600 ETH in DAO Treasury to $wstETH and $rETH

Aave to Convert 1,600 ETH in DAO Treasury to $wstETH and $rETH

Jul 08,2023,14:15

The Aave community has approved a governance proposal regarding the DAO treasury management, which will convert most $ETH in the DAO treasury to $wstETH and $rETH to increase yields. 100% of the voting power is in favor of the proposal.

According to the proposal, Aave DAO will convert 1,400 $awETH, 104 $ETH and 96 $aEthWETH to 800 $stETH and 800 $rETH, then wrap the $stETH into $wstETH. The $wstETH and $rETH will be transferred into the Collector contract.

 

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