One of DeFi’s fastest-growing protocols, Aave, has raised $3 million in capital from notable crypto funds Framework Ventures and Three Arrows Capital. The two will combine forces with helping Aave attract more liquidity and users.
Aave Continues to Grow
DeFi money market Aave sold $3 million of their native tokens, LEND, from the protocol’s treasury to venture capital fund Framework Ventures and crypto hedge fund Three Arrows Capital, according to a press release.
Aave is a high growth protocol that has seen blitzing growth in 2020, going from less than a million of locked liquidity in January 2020 to $220 million today.
Since Black Thursday, Aave has gained significant traction as a competitor to both Compound and MakerDAO.
Framework Ventures is a well-known name in the DeFi ecosystem, with notable investments in Synthetix, ChainLink, and Kava. The fund has developed a reputation as one of DeFi’s foremost investors, helping nascent projects grow by actively contributing to the ecosystem.
Michael Anderson, a co-founder and general partner at Framework Ventures, said:
“We believe there will be a significant market shift of private borrow/lend activity moving to decentralized money market protocols. Aave stands to significantly benefit from this underlying shift by enabling more assets as collateral, continuing to innovate with new lending features such as credit delegation, and partnering with other DeFi protocols, ultimately fostering a community-first approach.”
Three Arrows will join Framework in their active community approach, helping Aave refine the use case for its native token with revamped token economics that focuses on staking and enhancing liquidity.
This news was brought to you by ANKR, our preferred DeFi Partner.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Aave Protocol’s newest product, credit delegation, allows users to take collateral-free loans using DeFi. This service has the potential to disrupt the $300 billion P2P lending market. However, unlike Aave’s money...
Bitcoin May Be Down, but DeFi Is Pumping Like It’s 2017
DeFi is booming as the niche’s top tokens outperform the crypto market. But as the sector’s total value grows, governance tokens, issued by the likes of Balancer and Compound, could...
CeFi vs DeFi: Would You Trust Code or a Company With Your Bitcoin?
There are two distinct branches of blockchain-based open finance. One places user funds in the hands of a centralized corporation, while the other places trust in autonomous code. Both approaches...
Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are...
