Huobi Global Will Support the Migration of LEND to AAVE

Dear users,

Huobi Global will support the migration of Aave Protocol (LEND) smart contracts to Aave Protocol (AAVE), and Aave Protocol (AAVE) will be launched at 10:00 (GMT+8) on October 15, 2020. The details are as follows:

  • At 16:00 on October 11, LEND margin trading loan services will be closed;
  • At 11:00 on October 12, the system will automatically close the positions and settle the orders of LEND Margin and Perpetual Swap, and then Huobi Global will delist LEND Margin and Perpetual Swap trading pairs;
  • At 13:00 on October 12, LEND deposits and withdrawals will be closed;
  • At 14:00 on October 12, Huobi Global will delist all LEND spot trading pairs and cancel all LEND pending orders. After that, a snapshot of the user's LEND holdings will be taken, and then LEND will be converted to AAVE according to the ratio of "100LEND = 1 AAVE";
  • At 10:00 on October 14, AAVE deposits will be opened;
  • At 10:00 on October 15, AAVE spot trading (AAVE/USDT, AAVE/BTC, AAVE/ETH) will be opened (Please note that AAVE spot trading has been opened at 18:00 on October 14);
  • At 14:00 on October 16, AAVE withdrawals will be opened.

After the migration is completed, your LEND assets will be exchanged for AAVE. If necessary, please deposit LEND to Huobi Global before 13:00 (GMT+8) on October 12, 2020, and we will handle all migration matters for you.

Notes:

1. Please close your positions and cancel your open orders in time before the delisting. The system will automatically perform operations such as order cancellation at the specified time.
2. After the delisting, the valuation of LEND will not be displayed (the conversion of total assets of currency account does not include LEND) because the real-time price of LEND cannot be obtained.
3. Trading digital assets comes with high risks due to huge price fluctuations. Before trading, please have full understanding of all the risks in investing in digital assets and be prudent of your own decisions.
4. All information displayed on Huobi Global do not constitute investment advice. Huobi does not take responsibility for any resulting direct or indirect losses.

Huobi Global
October 11, 2020