Aave Approve Ether Conversion To wstETH, rETH
Holders of the decentralised finance (DeFi) token Aave are voting on whether 1,600 ether worth around $3 million in the protocol’s treasury should be converted to wrapped staked ether (wstETH) and rocket pool ether (rETH).
Wrapped staked ether and rocket pool ether are liquid staking derivatives that allow investors to stake tokens while keeping liquidity.
Aave, the third-largest DeFi protocol with a total value locked of $6 billion, now earns a dividend of 1.69% by staking 1,600 ether directly on the Aave v2 platform.
(With inputs from Shikha Singh)
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