Hey #DeFi lovers! ๐ŸŒŸ Aave DAO members are voting on a proposal to boost yield by shifting 1,600 unstaked ETH from the treasury into liquid staking derivatives: wrapped staked ETH (wstETH) and rocket pool ETH (rETH). ๐Ÿ’ฐ

Right now, staking on Aave's V2 platform earns 1.69%. The proposal suggests that staking wstETH and rETH would rake in 3.8% and 3.13% respectively. ๐Ÿ“ˆ So, it's clear that Aave DAO could make better use of these assets to bring in higher returns.

At the moment, votes are pouring in with 252,152 supporting the move, and there's still time for more votes. Let's see how this unfolds! Meanwhile, Aave's token is trading around $75. ๐Ÿ˜‰

In other Aave news๐Ÿ”Š: The DAO votes to launch V3 on Ethereum layer-2 network Metis and BNB Chain. Exciting times ahead! ๐Ÿš€