News/Aave Member Proposes to Convert Part of DAO's $WETH Holdings into LSTs

Aave Member Proposes to Convert Part of DAO's $WETH Holdings into LSTs

May 12,2023,18:49

Aave team member Marc Zeller published a new ARFC proposal in the Aave forum, proposing to convert part of the DAO's current $WETH holdings into liquid staking tokens (LST) to improve yield.

Currently, AaveDAO holds 1,561 $WETH, earning a yield of 2%. The proposal aims to convert 50% of these holdings to $stETH (currently earning 6.8%) and 30% to $rETH (currently earning 5.75%). The remaining 20% can be converted to other decentralized LSTs in the future.

 

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