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