Aave V3 STONE Onboarding Governance Vote Concludes with Unanimous Approval

IconCryptoNewsTerminal Staff30 Aug, 2024

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Aave V3 STONE Onboarding Governance Vote Concludes with Unanimous Approval

The Aave community has overwhelmingly approved a governance proposal to onboard STONE, the native token of omnichain liquidity infrastructure StakeStone, onto Scroll-based Aave V3. The vote concluded on January 31st (local time) with 100% of votes in favor. The integration of STONE onto Aave V3 will enable users to borrow, lend, and earn yield on the token within the Scroll network, which offers low transaction fees and high throughput. This move is part of Aave's broader strategy to expand its ecosystem and offer users access to a wider range of assets and services. StakeStone's STONE token plays a crucial role in the network's operations, serving as a means of payment for transaction fees and a governance token for the StakeStone DAO. By onboarding STONE, Aave V3 users will gain exposure to an innovative and growing omnichain liquidity infrastructure.

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