Aave Delegates' Gas Usage

    AAVE is a decentralized finance (DeFi) platform built on top of the Ethereum blockchain that allows users to lend, borrow and earn interest on their cryptocurrency assets, such as Ethereum and many others. It is a lending and borrowing platform that enables users to earn interest on their idle cryptocurrency assets, by using them as collateral. The AAVE protocol is unique for its governance system, which provides its users with complete control over the platform’s development and decision-making. This governance system is powered by AAVE tokens, which are used to vote on various proposals and changes that are necessary for the platform's growth and development.

    The voting system in AAVE is a key feature of the platform. It is built around the concept of decentralized governance, which allows all participants of the platform to have a say in its decision-making process. The AAVE token holders have the power to propose, discuss and vote on any improvements or upgrades to the platform. This democratic system ensures all stakeholders can contribute to the future direction of the platform and maintain a sense of ownership within the DeFi ecosystem.

    The AAVE token is used to vote on proposals, which can range from technical changes to changes in platform policies, and anyone with a holding of AAVE tokens can vote on these proposals. The voting system operates on a stake-weighted basis, meaning that the weight of the vote is based on the number of tokens held by the voter. This weighting system ensures that those who have a greater stake in the platform have a more significant say in its operation.

    Gas fees are another important aspect of the Ethereum blockchain. Gas fees are the fees paid to miners in the Ethereum network in order to process transactions. The higher the gas fees, the faster a transaction will be confirmed, which is essential for platforms like AAVE. AAVE users must pay for gas fees when moving assets on or off the platform, and the price of gas fees can vary significantly depending on the network congestion at any given time.

    In recent times, gas fees on Ethereum have become increasingly high, making it more difficult for smaller transactions to be processed. The high gas fees on Ethereum have caused some users to start considering other DeFi platforms, such as Binance Smart Chain or Polygon, which offer lower fees.

    In conclusion, AAVE's voting system is an essential feature that has allowed its token holders to have a say in its development and decision-making. However, its users still face the issue of high gas fees on the Ethereum network, which can be a barrier to some users who want to use the platform. As the DeFi ecosystem continues to grow and evolve, it will be interesting to see how the AAVE governance system adapts and develops to continue providing a democratic and decentralized platform for its users.

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    Method

    Using Flipsidecrypto data, this dashboard was made to track Aave voters' paid fees . in order to define your desired timeframe , you can alter days_back box by entering a number as days back from yestareday. the report gives info about total and overall stats of fee paid by Aave voters and also provides top 10 voters in terms of Fee paid $ . hope you enjoy it !