Reading time saved: 1 minutes
10 replies, 1869 views, 16 likes
The Aave community discussed the potential of collateral swapping within the Aave protocol, allowing users to pay off loans with different tokens, but implementation concerns were raised due to high Metamask fees. The upcoming Aave V2 is expected to support these features, but migration from V1 to V2 depends on sufficient liquidity on the new protocol.
The discussion revolved around the potential of swapping collateral within the Aave protocol, a concept proposed by Shane. This would allow users to pay off loans with a different token than the one borrowed, akin to the functionality of Uniswap. The idea was to implement these features using Metamask, but concerns were raised by Joskins about the high fees associated with Metamask exchanges. Defidude further clarified that the proposed features wouldn't be feasible with Metamask due to the funds being in Aave's contracts.
The conversation then shifted towards the upcoming Aave V2, which is expected to support collateral swapping/trading. This news was met with enthusiasm, particularly from Shane, who highlighted the potential for migrating LEND being used as collateral to Aave without withdrawal. Questions were raised about the timeline for migrating existing V1 deposits/loans to V2. Shane mentioned that Stani had tweeted about the migration script being available in a couple of weeks. However, EmmanuelD pointed out that more liquidity on the v2 protocol is needed for the migration.
In conclusion, while the idea of swapping collateral within the Aave protocol and paying off loans with different tokens is appealing, it seems that the implementation of these features will have to wait for the release of Aave V2. The community is eagerly anticipating the new version, which promises to bring significant improvements and new features. However, the successful migration from V1 to V2 will depend on the availability of sufficient liquidity on the new protocol.
Posted 3 years ago
Last reply 3 years ago
Summary updated 2 months ago
Last updated 05/12 01:14