There are two types of migrations available for Aave users and their positions at DeFi Saver currently: (1) migrations from account (EOA) to Smart Wallet and (2) migrations between different editions of Aave (e.g. from Aave v2 to Aave v3).
Account to Smart Wallet migrations
Migrating your position from your account to the Smart Wallet is a process that moves your whole position, including all collateral assets and debt balances, from your account to your Smart Wallet, where you gain access to all our advanced features, such as Boost, Repay, Automated strategies and Loan Shifting options (for protocol, collateral and debt shifts).
This process utilizes flash loans to clear your initial debt, move your collateral assets (aTokens) to the Smart Wallet, recreate your debt via Smart Wallet and then have the flash loan debt cleared.
Migrations between different Aave versions
This alternative option lets you move your existing Aave position to a different version of Aave in case you want to make use of better conditions or new features.
Support for different editions of Aave at DeFi Saver currently includes Aave v2, Morpho-Aave v2 and Aave v3 on the mainnet (with Aave v3 also supported on Arbitrum and Optimism).
The migrations process utilizes flash loans to clear your initial debt, move your aTokens from Aave v2 to Morpho-Aave (or withdraw and re-deposit to Aave v3), recreate your debt and then have the flash loan debt cleared.