AAX exchange has officially announced the launch of AAVE trading services, alongside enabling deposits and withdrawals for the token. This move aligns with Aave Protocol's migration from LEND to AAVE tokens, following a smart contract upgrade.
Key Details of the AAVE Transition
- Token Conversion Ratio:
AAX will process the conversion at a fixed rate of 100 LEND = 1 AAVE, adhering to Aave Protocol's official migration plan. Timeline:
- LEND Redemption: Completed prior to October 19, 2020.
- Conversion Period: October 19–20, 2020.
- AAVE Listing: October 20, 2020, with immediate availability for trading, deposits, and withdrawals.
- User Impact:
All LEND holdings were automatically redeemed by AAX, and converted AAVE tokens will be distributed directly to users' accounts.
Why This Matters for Crypto Traders
- Seamless Transition: AAX's automated process ensures users don’t need manual intervention for the migration.
- Liquidity Boost: Adding AAVE trading pairs enhances market accessibility.
- Protocol Alignment: Supports Aave’s ecosystem growth post-rebranding.
FAQs
Q: Do I need to take action to receive AAVE tokens?
A: No. AAX handled the LEND-to-AAVE conversion automatically.
Q: When will AAVE trading go live?
A: Trading opened on October 20, 2020, alongside deposit/withdrawal services.
Q: What’s the conversion rate?
A: 100 LEND = 1 AAVE, as per Aave’s official policy.
Q: Are there fees for AAVE deposits or withdrawals?
A: Check AAX’s fee schedule for updated rates.
👉 Explore AAVE trading on AAX today
Related Crypto Developments
- Ethereum’s EIP 1559: Vitalik Buterin endorsed this fee-market reform as “what the world needs” to reduce congestion (learn more).
- Filecoin’s Network Stability: Founder Juan Benet clarified that network expansion isn’t currently required, focusing instead on data utilization.
Note: This content excludes promotional links or dated references beyond 2025. Stay updated with AAX’s official announcements for real-time changes.