Aave DAO Votes On Redeploying $3 Million In Ether To wstETH And rETH For Higher Yield

Summary: A proposal on Aave DAO to move $3 million in ETH from the treasury into wrapped staked ETH and rocket pool ETH is active in the project’s governance forum. The proposal with 252,152 votes in favor argues that converting 1,600 ETH to liquid staking derivatives will earn higher yield for the protocol. Staking wstETH would earn 3.8% yield and 3.13% by staking rETH while retaining liquidity for the DeFi service, the proposal noted. Aave DAO members are voting on