Aave Announces Support for Ethereum Improvement Proposal (EIP) 1559
Popular DeFi lending protocol Aave has announced its support for the contentious Ethereum Improvement Proposal (EIP) 1559.
"The Aave Genesis Team supports the implementation of EIP-1559 to improve the user experience of Ethereum network transactions," reads the official announcement from the project.
The update is a transaction pricing mechanism with a fixed-per-block network fee that gets burned and dynamically expands/contracts block sizes to deal with congestion.
