Aave up 16% on AAVE Pro launch news

AAVE’s decentralized funding protocol (Defi) showed double-digit price increases after announcing that its AAVE Pro platform would be launched later this month.

AAVE Pro, a permitted version of its platform that targets institutional investors, was first introduced in a webinar last week.

Participants in the” next steps in corporate Defi ” webinar reportedly received a follow-up email with more information about aave Pro.

The $ aave Pro will be released in July.

For those of you who didn’t attend the next steps seminar at corporate Defi with Stani, here’s a short email I received. pic.twitter.com/ClwlBkXh2r

– Noah Goldberg (@TraderNoah), July 4, 2021

“Due to extensive demand from various agencies, aave and Fireblocks are launching the first authorized protocol of decentralized liquidity ‘AAVE Pro’ in July,” the letter said.

Fireblocks completed a $ 133 million Series C funding round in March and will join the venture as a partner.

Double-digit rise in AAVE prices
AAVE’s price rose more than 22% after the announcement, surpassing the $ 338 mark on Tuesday morning. The coin last traded at these levels on June 10, according to CoinGecko. Aave has since settled at $ 328, a gain of 16% over the past 24 hours.

Initially, AAVE Pro will support four entities with high corporate demand-bitcoin (BTC), Ethereum (ETH), AAVE and US dollar coin (USDC). The platform’s liquidity pool will be separated from other AAVE markets such as AAVE V2 and aave Polygon.

A notable feature of AAVE Pro is that institutional investors must pass a “Know Your Customer” (KYC) audit based on fireblocks smart contracts to access the platform. Once approved, they will be able to take advantage of AAVE’s automated revenue management and decentralized management–which AAVE’s chief executive, Stani Kulechov, called “the most interesting” feature.

What Is Aave? Under the Defi Credit Protocol
Also, he wants Fireblocks

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    SpreadEX 0.6pips (variable) margin: 3.33%
  • Back to top