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Aave upgrades scrip economic model: release new scrip Aave, start mortgage and liquidity mining reward

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Aave's original token LEND will be transferred into new tokens Aave at a ratio of 100:1

DeFi Lending Agreement AAVeReleased its latest article on July 30 announcing the launch of scrip economic upgrade program Aavenomics, which will be converted into new scrip AAVE via Genesis governance vote at the rate of one AAVE per 100 LEND.

The program is as follows

1. The original scrip LEND of Aave will be transferred into new scrip Aave at a ratio of 100:1;

2. The total supply of AAVE is 16 million pieces;

3. 13 million AAVE scrip will be distributed to the previous LEND scrip holders;

43 million pieces are reserved for Aave ecology.

AAVE tokens are used for ecological construction

1. Mortgage reward: 685 Aaves are used to reward mortgage token users every day, and 250,000 Aaves can be allocated in the first year;

2. Mobility mining award: 685 AAVE awards will be given to mobility providers every day, and 250,000 AAVE awards can be allocated in the first year;

3. Through the ecosystem incentive measures in the Staking Module (the mortgage mechanism of AAVE), 25,000 AAVE will be further used to reward mobile AAVE users, which will lead to a 1% reward for each automatic lock AAVE user in the ecosystem incentive mechanism of the security Module.

& have spent

As a result, 16.6% of AAVE's 3 million available reserves (500.25 million AAVs) in the first year were used for various ecological projects.