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Ethereum-Based Lending Protocol Aave Has Raised $3 Million in Selling LEND Token
Summary: Through token selling, Aave—a lending protocol based on Ethereum—has raised $3 million from Framework Ventures and Three Arrows Capital, as reported by The Block. Overall, Framework and Three Arrows hold 7 million worth of LEND, while ParaFi holds $4.5 million. Michael Anderson, a partner of Framework Ventures, thinks Aave will benefit “significantly” from the “shift ...
Through token selling, Aave—a lending protocol based on Ethereum—has raised $3 million from Framework Ventures and Three Arrows Capital, as reported by The Block.
Overall, Framework and Three Arrows hold 7 million worth of LEND, while ParaFi holds $4.5 million. Michael Anderson, a partner of Framework Ventures, thinks Aave will benefit “significantly” from the “shift of private borrow/lend to decentralized money market protocols”.
Notably, Aave reveals multiple new features waiting for implementation. Concurrent with migrating token LEND to AAVE, Aave plans to debut a governance system and a new credit delegation functionality.
By Lily Yang
Tags: Aave,LEND
Link: Ethereum-Based Lending Protocol Aave Has Raised $3 Million in Selling LEND Token [Copy]
