Hey guys,
I would love to migrate my LEND into AAVE but I can’t for now because I use my LEND tokens as collateral. If AAVE would be enabled as collateral I could do the switch. Is there a deadline for the token migration? I dont want to lose my LEND because of this.
Im sure im not the only person with this situation right now
@piterpetito Don’t worry you won’t be liquidated. Lend to Aave should be part of v2 which is rumoured to be before end of year. Any migration deadline will have to take in to account Lend being used as collateral
As @DrAdz786 mentioned, with V2 if AAVE is collateral you’ll be able to swap your collateral from LEND to AAVE without withdrawing or affecting the health factor.
There’s a thread for supporting AAVE as collateral here: Proposal to add AAVE as collateral only
a deadline is very much needed, though the LEND being use as collateral factor should be taken into account but since it’s locked in AAVE anyway automatically converting that should be possible. Token migration phases like this tend to confuse potential new buyers, delay new exchange listings while people who want to sell will do so anyway so not a good phase to be in. Sooner rather than later.
I am unable to migrate my LEND to AAVE as it is deposited and on an unhealthy safety ratio right now. I think if we find a way to migrate aLEND to aAAVE directly without affecting safety ratios etc on DefiSaver you will see the vast majority of unmigrated LEND move over…
A good “entre deux” could be to integrate a floating deadline.
1st January 21 - 101 $LEND = 1 $AAVE
2st January 21 - 102 $LEND = 1 $AAVE
3st January 21 - 103 $LEND = 1 $AAVE
etc
I have only recently discovered the migration thing and want to know if I am stuck with my Lend tokens.
Why should you be stuck? Just convert your Lend to Aave with the migration tool on the website.
There is no deadline yet and i honestly dont think its needed at all.
What is the status on the above Stani?
Hi again, I have had no success in finding the migration portal or getting anything to work. I so much want to save my money invested in Lend. Please help if it is possible. Regards, Alan
Thats what i found on the AAVE FAQ:
How do I migrate?
The process to migrate from LEND to AAVE is quite similar to a deposit. You just need to enter the Aave app and go to the migration portal. Then you need to execute 2 transactions to perform the migration: 1. Approve: This is a required transaction prior to the migration allowing the migration contract to move your LEND tokens to migrate them to AAVE. This transaction won’t be required if you perform additional migration actions unless you revoke the approval. 2. Upgrade LEND to AAVE: This transaction performs the upgrade from LEND tokens to AAVE tokens. When confirmed, you will have your new AAVE tokens in your wallet.
It seems like there is no UI for the portal anymore so you have to execute it by yourself. So direct interaction with the contracts.
Or you have to look for other tools that are using the same contracts to have an UI. I know MEW had something, but i dont know if it is still there. Google should help you.