Aave will transfer ownership of the protocol to a “genesis governance” built and approved by LEND token holders. It will also swap LEND tokens for AAVE.
The native token of the decentralized lender Aave has risen by over 100% this month alone.
Aave’s LEND token is the day's top performer among cryptocurrencies with at least $100 million market capitalization.
Framework Ventures and Three Arrows Capital announced a $3 million investment in Aave, the firm behind the third-largest lending platform in DeFi.
Collateral deposits in Aave are up nearly $160 million over the past six months, suggesting actual usage rather than speculation.