First cross-chain governance proposal passes on Aave By Cointelegraph
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On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave (AAVE). According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, a proposal executed on Aave, which is built on the (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then read the Ethereum data and passed it for validation on the Polygon network.
Afterward, the Aave cross-chain governance bridge contract received this data, decoded it and queued the action, pending a timelock for finalization. The development team wrote:
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave (AAVE). According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, a proposal executed on Aave, which is built on the (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then read the Ethereum data and passed it for validation on the Polygon network.
Afterward, the Aave cross-chain governance bridge contract received this data, decoded it and queued the action, pending a timelock for finalization. The development team wrote:
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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