Three Arrows, Framework Invest in DeFi Site Aave With $3M LEND Token Sale
- The two funds purchased Aaveâs native LEND tokens directly from the company. LEND has appreciated 1,200% on a year-to-date basis.
- âWe believe there will be a significant market shift of private borrow/lend activity moving to decentralized money market protocols,â Framework Venturesâ Michael Anderson said in a statement. âAave stands to significantly benefit from this underlying shift.â
- The total value locked (TVL) on Aave is currently $218.6 million, according to DeFi Pulse. The top lending protocol, Compound, has $695.4 million worth of crypto assets âlocked inâ to its system.
- Aaveâs TVL has spiked with the rest of the DeFi market since the general upturn began following the release of Compound's COMP token on June 15. The value of assets locked on Aave is up over 250% since mid-June.
- Aave sits in a similar place in the market to Compound, but offers more assets for deposits and borrows. Compound currently lists nine; Aave lists 17.
- âOur focus has always been innovation and diligent risk management,â Aave founder Stani Kulechov said in a statement.
- Microsoft Partners With Waves to Tokenize Industrial Assets
- OKCoin Joins Coinbase in Supplying Oracle Feed for DeFi Project Compound
- Man Charged With Defrauding $4.5M in Crypto to Fund Gambling Habit
- Binance CEO Criticizes Twitter Security After Coordinated Attack on Prominent Accounts
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.