stkAAVE upgrade: Redeem & restake AAVE rewards in one go

Aave recently announced the release of its latest stkAAVE upgrade. The latest tweet by Aave talks about how the upgrade assists users in saving time and fees.

According to Aave, the new upgrade will allow users to redeem and restake their AAVE rewards in one transaction. This way, they can avoid the hassle of conducting multiple transactions. At the same time, it will boost the user experience and efficiency across the Aave ecosystem.

The platform attached a screenshot to the tweet to showcase the transaction’s appearance. The image shows the per-month restriction and cooldown period associated with the process as well. The community has warmly welcomed the upgrade, as many users plan on moving their AAVE in the coming weeks.

The past week has been instrumental for Aave, as the platform has recently embraced an open governance model on its Lens Protocol. Aave’s decentralized social media platform now allows community members to propose modifications to the platform.

Inspired by Ethereum, the platform aims to create a hub for developers, users, and creators to partake together. Aave’s latest modification also serves to promote this objective. The back-to-back positive news has also boosted AAVE’s market position.

The token is currently trading at 56.67 dollars, highlighting a 5.69% hike. AAVE currently ranks among the top 50 tokens in the market. The movement has also boosted its market cap to 818,359,444 dollars.

With its TVL (total value locked) rising to 5,607,379,781 dollars, AAVE appears to be on a growing trend. As the platform has more exciting updates scheduled in the coming months, experts are predicting a shrewd uptick in its overall price.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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