If there’s one word that best describes the activity of the various DeFi industry protocols this year, it’s RECORD. The projects have continued to string together spectacular figures, both in terms of blocked assets and the value of tokens issued. Aave (LEND), who has not escaped this record fever, has also recorded an increase of 6380%. Thanks to its success, the project is now attracting a lot of attention from venture capital firms.
$ 1.145 billion in total blocked value
August 17, Aave (LEND) rose dramatically to a new record market value of $ 0.58. This increase corresponds to an increase of 6380% and allows the protocol to show a positive outcome. With a market cap of $ 736 million, the protocol set another no less important record. Indeed, according to data from DeFi Pulse, Aave now has a total of $ 1.145 billion in total blocked value.
The decentralized lending protocol which has seen a spectacular breakthrough this year has also seen LEND’s transaction volume reach historic highs as well. A week ago transactions involving the asset amounted to $ 148 million. An activity that testifies to the growing interest of institutional investors in Aave. As a reminder, the protocol recorded a month ago a $ 4.5 million investment from ParaFi Personal-Financial.com. A week later it was Three Arrows Personal-Financial.com and Framework Ventures to Acquire LEND Tokens with a Total Value of $ 3 Million.
Trade in debt, collateral and margins as the next goal
Originally launched in 2017 under the name ETHLend then renamed Aave in September 2018, the protocol entered into force on the main network in January 2020 with 16 assets supported. It then rapidly grew to become a market of over $ 1 billion today. This was notably possible thanks to innovations like unsecured loans, where borrowing and repayment must take place in the same transaction.
We can also mention the delegation of credit and the stable rates that are offered. The protocol now aims to embark on a new adventure that it hopes will be equally successful. Indeed, with the creation of Aave V2 the platform will offer trading in debt, guarantees and margins. This version also provides for the transition to governance and the optimization of transaction costs.
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All the lights are therefore green on Aave’s side and nothing seems to hinder his ascent within the protocols of DeFi. Its future introduction into the debt, collateral and margin business should probably allow it to record new record figures.
In the crypto-bath since 2017, both far too late but far enough early from the point of view of my future grandchildren ????
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