Aave Carries Out First Credit Delegation Transaction

Aave Carries Out First Credit Delegation Transaction

By Abhimanyu Krishnan | News | 7 Aug 2020

On August 6, decentralized lending and borrowing platform Aave (LEND) processed its first credit delegation transaction. The credit delegation feature provides trusted uncollateralized to users.

  • A line of credit of $500,000 was offered to DEX DeversiFi, at an interest rate of 3% APR for LEND
  • Credit limit is 20 WBTC, which DeversiFi hit in a demonstration
  • The two parties used OpenLaw to enter into an agreement
  • Credit Delegation will soon be followed by Aavenomics, a major technical upgrade that will convert LEND to AAVE on a 100:1 ratio

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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