Aave Plans to Launch a Mission to Rescue Lost Tokens

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Aave’s “rescue mission” for tokens lost due to being sent to erroneous smart contracts has been approved by 100% of the votes, marking the beginning of the first phase of the mission.

The affected tokens include AAVE, LEND, stkAAVE, locked UNI and USDT. Out of a total of about $2.18 million, 29,188 AAVE worth $2.16 million will be “rescued” in the first stage.

Unblocked funds will be sent to a distributor’s smart contract, which the wallet owner can apply to for a refund. Funds below $500 and those received from centralized exchanges will not be included in the first or subsequent two phases.

This comes after MakerDAO participants proposed launching Spark Protocol, a competitor to Aave, in February.