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DeFi Lender Aave to Distribute Lido Staking Rewards on Arbitrum and Optimism

Rewards from staking ether on Lido will now be distributed by Aave on Ethereum, Arbitrum, and Optimism following a recently-concluded community vote.

Aave relies on smart contracts to offer users with financial services such as lending and borrowing. Its recently-released version 3 (v3) product has been deployed on Ethereum and layer 2 networks Optimism and Arbitium – two separate blockchains that allow users to transact on Ethereum-based applications faster and more cheaply.

These rewards will now be distributed across Aave following the vote that ended Monday. Over 99% of all governance participants voted in favor of the proposal.

(By Shaurya Malwa)

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