Aave (AAVE) DeFi protocol launched an upgrade on its public testnet today. The decentralized finance lending platform has been evolving and it was announced today that version 2 will now be available on the Kovan testnet.
The upgrade is designed to bring improvements and increased financial incentives to the DeFi platform. A significant upgrade is that transactions that would previously have to be conducted in numerous steps could now be done through one single operation. This will enable DeFi lenders and borrowers to save on network fees and transaction time.
Also, the transition to version 2 will bring liquidity mining to Aave users. With the upgraded testnet, governance features that will be improved include vote delegation and the distribution of governance power between Aave users. Additionally, users will be able to trade with their deposited assets, even if these are recorded as collateral on Aave.
Following the news, AAVE token has fallen back slightly, trading at $58.88 on