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Aave DAO Approves $2 Million Token Swap for BAL-WETH Liquidity Pool Tokens from Balancer

The Aave community has agreed to a $2 million token swap with Balancer, a decentralized exchange protocol, as part of its diversification strategy. The swap will involve 310,000 BAL and 326 units of wrapped ether from Aave's treasury, which will be converted into B-80BAL-20WETH. CowSwap's Milkman protocol will be used to minimize risks during the swap. The objective of the swap is to attract more liquidity to Aave's Balancer pools, potentially leading to increased revenues from enhanced yields. Aave has also recently approved the conversion of 1,600 ETH from its treasury reserves into staked ether and rocket ether.

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