Emirex Will Support the Swap of Aave (LEND) Token to AAVE

Emirex Group | Oct 14, 2020 6:47:26 PM

We are pleased to support the Aave project token swap from LEND tokens to AAVE tokens. Aave has enabled contract migration from LEND token to AAVE token at the ratio of 100 LEND: 1 AAVE. The decision to migrate tokens is the result of the recent launch of a new project governance system on the Aave mainnet. 

Aave is a lending service that gives users the ability to lend and borrow a range of cryptocurrencies using both variable and stable interest rates. Aave's goal is to continue to maximize the potential of DeFi applications to create money markets on the Ethereum blockchain with a wide range of platform features. It is based on an open-source and non-custodial protocol that allows the creation of money markets. Investors provide liquidity in the market to generate passive income, while borrowers can take out loans at fixed or variable interest rates.

Information about the listing of the new token will be additionally provided to our users. Please note that the currently available trading pairs LEND/USDT and LEND/BTC on the Emirex exchange will be suspended. The deposit and withdrawal of LEND from Emirex exchange is suspended until the completion of token migration.

In addition, we would like to inform our users that we are in direct dialogue with Aave's project to foster the development of the DeFi industry. Soon we will officially announce our joint plans.

For further information on the token swap, please refer to this article.

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