Aave begins first phase of token recovery rescue mission
DeFi lending protocol Aave is set to rescue lost tokens for its users after the DAO voted unanimously in favor of commencing phase one of the asset recovery process. The first phase will focus on tokens mistakenly sent to smart contracts for AAVE, LEND, and staked AAVE tokens. These include tokens like AAVE, LEND, and stkAAVE, as well as UNI and USDT.
The value of rescued tokens is about $2.18 million, according to figures provided by Aave developer Bored Ghosts Developing Lab. AAVE tokens form the bulk of the recovery in this phase with more than 29,188 AAVE and 107 staked AAVE tokens worth a total of $2.16 million. The LEND tokens recovered will be transformed to AAVE at a ratio of 100 LEND to 1 AAVE token. The recovered tokens will be sent to a distributor smart contract. Users will then be able to retrieve their lost tokens from the contract. To do so, they will have to use the same wallet address from which they initially lost them. The team said that the recovery mission will help many affected users.
Source
https://t.me/CryptoNewsSource
