Aave announced the governance token Aave economic model and will launch a new token AAVE to replace LEND

The decentralized lending protocol Aave released a governance token economic model, and a new token AAVE will be launched to replace the native token LEND. The main points are as follows: 1. Aave’s native token LEND will migrate to the new token AAVE at a ratio of 100:1 (merger) 2. The total supply of Aave is 16 million, of which 13 million will be allocated to LEND holders in the above proportion, and the additional 3 million will be allocated to the Aave Ecosystem Reserve; 3. Reserve funds The security incentive distribution of Aave will be provided to holders who pledge Aave to the security module (Safety Module, acting as the insurance reserve for Aave users). In addition, the Balancer AAVE/ETH fund pool will also provide liquidity rewards. 4. AAVE holders will be able to vote on the agreement and money market policy, and can also request changes to the Ghost agreement through the Aave Improvement Proposal (AIP).