Aave Raises $25M in New Funding Round

Aave Raises $25M in New Funding Round

By Abhimanyu Krishnan | News | 13 Oct 2020


Decentralized lending protocol Aave (AAVE) has raised $25 million in a new funding round.

  • Aave raised $25 million from investors such as Blockchain Capital, Standard Crypto, and Blockchain.com ventures, and others
  • The project has previously raised roughly $24 million, including a $17 million ICO held in 2017
  • CEO Stani Kulechov said that the funds would “bring DeFi closer to institutional use and to expand the team size to serve the growth in Asian markets”
  • Aave recently migrated towards decentralized governance, with the first proposal voting in favour of its tokenomics upgrade
  • The project is ranked 3rd when it comes to the total valued locked in - over $1.1 billion according to DeFiPulse

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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