DeFi Token LEND Turns Into AAVE With a 25% Price Surge; What’s Next?
The transformation of Aave’s native asset LEND into a new symbol, titled “AAVE,” has begun with a 25 percent price surge. In retrospect, the team behind Aave announced two weeks ago that it would transfer its ownership of the lending protocol to a “genesis governance” built following a community vote. The ayes came in favor […]
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Demand for LEND has surged dramatically over the last week as the token undergoes a rebranding. Aave, the non-custodial “DeFi” protocol, earlier launched its Aave Improvement Proposal (AIP1) to allow community consent over the migration from its governance token LEND to its rebranded avatar AAVE. In retrospect, the switchover attempted to take people’s opinions on the […]
Aave’s LEND token, along with its new token AAVE, has dropped heavily in the past 24 hours despite stagnation in the Bitcoin and Etheruem price. The coin currently trades down 15% over the past day, underperforming BTC’s mild -0.5% performance. The cryptocurrency’s drop comes in spite of Aave having fundamentals that are stronger than ever. […]
Leading decentralized finance (DeFi) coin LEND, the native token of the Aave protocol, is up 5% in the past 24 hours. Its performance comes as the prices of both Bitcoin and Ethereum have stagnated. LEND’s outperformance seems to stem from a crucial technical change to the Aave protocol and the cryptocurrency itself. This technical change […]
Aave’s core developers have transferred governance rights over to AAVE token holders, giving its community control over the future of the protocol. Aave has become the latest decentralized finance (DeFi) project to transfer governance rights to its token holders.On Oct. 29, Aave announced that the protocol's admin keys had been transferred from its core developers to governance communities under the command of holders of its native LEND utility token.“Today marks a historic moment for the Aave Protocol: we have officially handed over the protocol admin keys to the governance, an important....
While decentralized finance (DeFi) has seen a strong surge in 2020, Maker (MKR), a token strongly tied to DeFi, has underperformed. The cryptocurrency, relative to its competitors, is underperforming; where Aave’s LEND and Synthetix’s Synthetix Network Token surged hundreds of percent in this year alone, MKR only saw a 20-30% move higher. The market may […]