Three Arrows, Framework Invest in DeFi Site Aave With $3M LEND Token Sale

Framework Ventures and Three Arrows Capital announced a $3 million investment in Aave, the firm behind the third-largest lending platform in DeFi.

AccessTimeIconJul 15, 2020 at 6:23 p.m. UTC
Updated May 9, 2023 at 3:10 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Framework Ventures and Three Arrows Capital announced Wednesday a $3 million investment in Aave, the firm behind the third-largest lending platform in decentralized finance (DeFi).

  • The two funds purchased Aave's native LEND tokens directly from the company. LEND has appreciated 1,200% on a year-to-date basis.
  • "We believe there will be a significant market shift of private borrow/lend activity moving to decentralized money market protocols," Framework Ventures' Michael Anderson said in a statement. "Aave stands to significantly benefit from this underlying shift."
  • 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 "locked in" to its system.
  • Aave's 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.
  • "Our focus has always been innovation and diligent risk management," Aave founder Stani Kulechov said in a statement.
  • Three Crypto Predictions in 2024
    02:07
    Three Crypto Predictions in 2024
  • Why Injective's INJ Has Surged 3,000% in 2023
    00:52
    Why Injective's INJ Has Surged 3,000% in 2023
  • DeFi Market Rebounds to $50B as Speculators Hunt for Yield
    01:11
    DeFi Market Rebounds to $50B as Speculators Hunt for Yield
  • How Spool Is Aiming to Help Institutions Enter DeFi
    11:05
    How Spool Is Aiming to Help Institutions Enter DeFi
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.